Economy
Export prospects comparatively better: Dr Salehuddin
Adviser to the interim government on the Ministries of Finance and Commerce Dr Salehuddin Ahmed today said that the export prospects is comparatively better in the current fiscal year (FY25) as it will increase with the changing context.
“Regarding export prospects, we’ve realized that it will be comparatively better as the context has already been changed as well as the situation…exports will not decline further, rather it will increase,” he said.
The Commerce Adviser was replying to a good round of questions from reporters after chairing the 146th board meeting of the Export Promotion Bureau (EPB) and 59th Board meeting of the Bangladesh Foreign Trade Institute held at the Ministry of Commerce conference room at Bangladesh Secretariat today.
Replying to another question, Dr Salehuddin informed that the export target for the current fiscal year is being projected considering a healthy growth of 12.4 percent.
He said the government would set a reasonable target for exports in the current fiscal year after reviewing the growth for various components and addressing the existing barriers.
The Commerce Adviser said that the government would also continue strides for diversifying its export basket to extend further the export volume.
“We’ll have to reduce our export dependence on one or two products,” he added.
Dr Salehuddin said potential products and commodities would be promoted to expand the export basket.
About the meeting outcomes, he said the government would publish the export data and project a true picture of the country’s export earnings after coordinating and reconciling all the available data from the EPB, NBR and the Bangladesh Bank.
He also acknowledged that there have been some mismatches in the calculation of export figures in the past while integrating the export data of all concerned agencies.
Responding to another question, he said whatever mismatches in export data took place is a matter of the past and it would not reoccur in the future.
When asked whether the US will provide the GSP facilities afresh, he said efforts are on and hopefully there would be a possible gesture from the US government in this regard.
He informed that the US has some conditions and quarries in this regard which are not so tough while discussions in this regard would be held during his upcoming tour to Washington. The US has some issues on decent work other than
readymade garments (RMG), he added.
Replying to a question, the Adviser said efforts are on to boost the FDI inflow in the country while the Bangladesh Investment Development Authority (BIDA) would be energized further in this regard.
Asked about the market management of essential items, he said the government has already reduced and withdrew duty on some essential items like potatoes.
“There are also some issues like extortion …there are also some barriers, the local administration has also been involved. It will take some time to contain the prices of essentials. Our efforts will continue so that the consumers need not to suffer,” he added.
The adviser told another questioner that the confidence in the banking sector is being restored as many of the boards of the banks are being reorganized by the central bank while the culprits of the banking sector are being identified and nabbed.
In this regard, he said a task force will be formed to identify those who have laundered money abroad and thus bring back the siphoned off money.
He said apart from local experts, foreign experts might be recruited if necessary.
Dr Salehuddin said the structure of task force has been finalized and it has already started it process although the experts and personnel of the task force would be unveiled by the Bangladesh Bank.
He, however, opined that it is not easy to recover the stolen assets and it takes certain time. “But, the operations in this regard we’ll be visible soon,” he added.
Replying to another question, the finance and commerce ministries adviser said that the Dhaka International Trade Fair (DITF) would take place in January 2025 but the date for final inauguration is yet to be finalized.
In the upcoming edition of DITF, there would be some innovative things while the main focus would be on promotion of local industries and exportable items, he added.
Commerce Secretary Md Selim Uddin and senior officials concerned attended the meeting.
The newest tranche of US funding will assist Bangladesh towards a more inclusive, equitable and democratic course for its people, the US Embassy in Dhaka said today (16 September).
According to the embassy, from 2021-2026, USAID has committed nearly $1 billion to help improve the lives of the Bangladeshi people.
During the US delegation’s visit yesterday (15 September), USAID signed a development agreement worth over $200 million with the interim government to support Bangladesh in advancing development, strengthening governance, expanding trade, and creating greater opportunities for the Bangladeshis to build a brighter and more prosperous future.
The officials discussed ways to support inclusive economic opportunities for the people of Bangladesh, ensure financial stability, and strengthen democratic governance.
The US interagency delegation held meetings with key advisers for the Bangladesh interim government, including Chief Adviser Prof Muhammad Yunus, Foreign Affairs Adviser Touhid Hossain, and Finance and Commerce Adviser Dr Salehuddin Ahmed yesterday.
The US delegation included Department of Treasury Assistant Secretary Brent Neiman, Assistant Secretary of State for the Bureau of South and Central Asian Affairs Donald Lu, USAID Deputy Assistant Administrator for Asia Änjali Kaur, and Assistant US Trade Representative Brendan Lynch.
Bangladeshi landowners are set to regain around 200 acres of land that had shifted into Indian territory due to the erosion of the Padma River along the Daulatpur border in Kushtia. This decision followed a joint agreement reached during a meeting between the Border Guard Bangladesh (BGB) and India’s Border Security Force (BSF) on Sunday.
The land in question, situated in the Challishpara area of Ramkrishnapur union, became disputed due to the shifting course of the Padma River and natural disasters, which disrupted boundary markers over a three-kilometer stretch. The issue was first identified in a survey earlier this year.
Lieutenant Colonel M Mahbub Murshed Rahman, commander of BGB’s 47th Battalion, confirmed the decision to resurvey the area and return the land to its rightful owners. A survey on February 10 revealed that approximately 200 acres of Bangladeshi land had ended up inside Indian territory, while 40 acres of Indian land were found in Bangladesh.
Both countries plan to officially correct the boundaries in October, following the resurvey. Sunday’s meeting, held at the Jamalpur Border Outpost, also addressed broader issues like preventing border killings and tackling drug trafficking.
Lt Col Rahman stressed that no one will be allowed to use the disputed land until the resurvey is complete. He also expressed Bangladesh’s strong opposition to recent border killings, urging the BSF to prevent the detention of innocent citizens and curb illegal cross-border activities, especially ahead of Durga Puja.
The holy Eid-e-Miladunnabi, commemorating the birth and demise of Prophet Hazrat Muhammad (PBUH), is being observed across Bangladesh today with profound religious reverence. The observance was confirmed during the National Moon Sighting Committee’s meeting on September 4, held at the Islamic Foundation’s Conference Room in Baitul Mukarram National Mosque. The meeting was chaired by the Secretary of the Ministry of Religious Affairs, Md Abdul Hamid Jamaddar, as announced in a press release.
The committee confirmed that the moon of Rabiul Awal 1446 Hijri was sighted in the sky of Bangladesh on September 4, marking the beginning of the holy month of Rabiul Awal from September 5 (Thursday).
On this day in 570, Prophet Muhammad (PBUH) was born in Makkah, Saudi Arabia, bringing divine blessings and messages of peace to humanity. He passed away on the same date, 12th Rabiul Awal, of the Hijri calendar.
In honor of the occasion, President Mohammed Shahabuddin and the Chief Adviser to the interim government, Prof Dr Muhammad Yunus, issued separate messages, extending greetings to the people of Bangladesh and Muslims worldwide.
To mark the day, Bangladesh Television (BTV) and Bangladesh Betar are airing special programmes, while various national newspapers have published supplements underscoring the significance of the event. The day is also observed as a public holiday throughout the country.
