Export policy review meeting today

December 22, 2020 09:57:11

| Updated:

December 22, 2020 11:41:50

The government will review the progress in implementation of the existing export policy 2018-21 aiming to help boost export, officials said.

To this effect, the monitoring committee on the existing export policy will sit today (Tuesday) to devise necessary strategies in this regard.

Representatives from different ministries concerned, trade bodies and senior officials will attend the meeting.

Implementation conditions and progress of the existing policy will come up in the meeting for discussion.

Besides, necessary advice and opinions will be taken from the representatives of ministries, departments, agencies and stakeholders concerned.

The commerce ministry takes required steps for bringing about important changes in the policy for greater interests of the country’s export sector, an official said.

The monitoring committee will also discuss the issue of bringing about necessary changes in the export policy, he mentioned. The government has set an export target of US$48.0 billion for the current fiscal year 2020-21.US$41.0 billion target has been fixed for the goods export sector and $7.0 billion for the services export sector.

Last fiscal year, the target was set at US$54 billion which could not be achieved due to the negative impact amid the global coronavirus outbreak. The government has set an export target of US$60 billion for 2021 as it has taken many steps to achieve the target, the official said.

Expansion of export trade is a must for achieving the higher growth rate of national income, he added.

Export Policy 2018-21 has been formulated on the basis of the recommendations put forward by a consultative committee comprising representatives from main industries or trade associations, chambers, research organizations, ministries concerned and government organizations to ensure the sustainability of export growth, according to the commerce ministry.

Besides, the commerce ministry has already taken multiple measures to provide aid in the import and export sectors to help combat Covid-19 in the country.

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