Export diversification top priority of govt: Commerce secy

Export diversification is the government’s one of the top priorities for which it is working relentlessly, said Commerce Secretary Dr Md Jafar Uddin.

After Bangladesh’s LDC graduation in 2024, a number of DFQF (Duty-Free Quota-Free) facilities will be eroded; therefore, the country needs to proceed for bilateral FTAs (free trade agreements) with potential partner countries, he added.

He made the remarks while co-chairing the 8th meeting of the Trade & Investment (T&I) Working Committee of the Business Initiative Leading Development (BUILD) on Thursday at the Ministry of Commerce, reads a press release.

During the meeting, the secretary assured the representatives from different public and private sector entities, of implementing the proposed reforms of BUILD for export diversification and supportive policies for non-RMG sectors.

Barrister Nihad Kabir, president of the Metropolitan Chamber of Commerce and Industry (MCCI), said that the government should come forward to provide equal fiscal monetary assistance to all the potential export oriented sectors.

Appreciating BUILD for presenting data-driven and research-based policy advocacy papers, Nihad Kabir, also the co-chair of the T&I Working Committee from the private sector, underscored the need for dialogue before formulating policies that matter most to private sector development.

To resolve the constraints in availing trade licenses for e-commerce business, commerce ministry may consult with LGRD to ensure simplified policies, she advised.

Ferdaus Ara Begum, chief executive officer (CEO) of BUILD, presented two key presentations in the meeting.

Out of 13 reform proposals, seven were approved, she informed the meeting.

The major implemented reforms include digital e-commerce cell in the commerce ministry, 100% FDI in the e-Commerce sector, training of entrepreneurs for e- banijyo, and individual ETP by the Ministry of Industries.

In the presentation, BUILD CEO referred some policy differences for non-RMG sectors, specifically in availing the benefits of the Bonded Ware House (BWH) facilities in respect of new entitlement, UD, coefficient, automatic renewal of BWH, audit, sub-contracting, sample import, etc.

She also suggested simplification of policies that benefit all sectors such as leather and leather goods, plastic, electrical and electronic goods and agro-processing sector.

Md Hafizur Rahman, additional secretary (export wing) of the commerce ministry, said apart from RMG, other sectors should get the equal treatment in case of export.

Md Zakir Hossain, additional commissioner of Customs Bond Commissionerate, said as the requirements of importing raw materials are very diverse, it becomes quite difficult for them to provide Utilization Declaration (UD) facilities to other sectors.

Md Abdur Rahim Khan, joint secretary (export-2) of the commerce ministry, said the ministry has already taken initiatives to establish the Health Certification Agency in Bangladesh to facilitate the export of agro-processing products.

In reply to the implementation of e-banijjo platform, Md Hafizur Rahman, director general (additional secretary), WTO Cell of the commerce ministry, said though the ministry had initially planned to train 5,000 e-commerce entrepreneurs through e-banijyo platform, it ended up training 2,500 entrepreneurs.

The ministry has sent a new proposal to the Ministry of Planning to upgrade the numbers to 12,000, he added.