'The export basket must be diversified, without excluding apparel products'
All export-oriented sectors would enjoy the same fiscal facility currently available for apparel industry, Prime Minister’s Private Industry and Investment Adviser Salman Fazlur Rahman said yesterday.
He said: “To ensure export diversification, similar fiscal and other policy supports currently available for apparel industry will be given to other export-oriented sectors. Trade facilities for the apparel sector should not be reduced, rather it will be continued.”
His remarks came at a workshop on “Export diversification for economic growth in Bangladesh”.
He was the chief guest at the inauguration session of the workshop, jointly organized by the International Finance Corporation (IFC) and Economic Reporters’ Forum (ERF) at the ERF office in the capital’s Purana Paltan.
The export basket must be diversified, without excluding apparel products, he said.
Salman added that like the garment sector, other sectors would get the similar assistance.
Salman F Rahman announced that a full-fledged one-stop service (OSS) centre would be launched by the next 4/5 months at the office of the Bangladesh Investment Development Authority.
He also said that already different steps had been undertaken to improve the ease of doing business in the country.
ERF President Saiful Islam Dilal presided over the program while general secretary SM Rashidul Islam delivered the welcome speech.
Among others, senior economist of World Bank Group M Masrur Reaz and private sector specialist of World Bank Group Hosna Ferdous Sumi also spoke on the occasion.
Hosna Ferdous Sumi said Bangladesh was a beneficiary of the demographic dividend, but a skills mismatch held productivity levels back.
“The current tariff regime of Bangladesh is not conductive to trade for non-RMG sectors,” she said.
She recommended export diversification, identifying high potential sectors, improving trade logistics and increasing the allocation in the green transformation fund (GTF).