The government has fixed an export earnings target of $63.4 billion for the 2026-27 fiscal year, aiming for 15 per cent growth in the export of both goods and services.
Commerce Minister Khandakar Abdul Muktadir announced it during a press briefing held at the Ministry of Commerce conference room in the capital on Sunday.
Of the total projection, $55.2 billion is expected to be generated from merchandise exports, while the services sector is projected to contribute $8.2 billion.
The minister noted that while the country missed its export targets in the previous fiscal year during a period of sluggish growth, there is strong optimism for a recovery.
Muktadir attributed this positive outlook to policy stability under the newly elected government and various business-friendly measures introduced in the national budget.
Focus on diversification
A central pillar of the government’s strategy remains export diversification. Currently, the ready-made garment (RMG) sector accounts for approximately 85 per cent of Bangladesh’s total export earnings.
To reduce this heavy reliance on a single sector, the government has designated leather and leather products, shipbuilding and ship recycling, light engineering, and information technology (IT) as priority sectors for expansion.
Expanding market access
The minister revealed that negotiations for Free Trade Agreements (FTAs) with South Korea and the United Arab Emirates (UAE) are nearing completion.
Bangladesh intends to conclude trade talks with four to five additional countries by December.
The Economic Partnership Agreement (EPA) with Japan is set to be presented to the next parliamentary session for enforcement, while the European Union has expressed interest in beginning FTA negotiations with Bangladesh.
Regarding graduation from Least Developed Country (LDC) category, the minister said previous uncertainties have been largely resolved, adding that exporters will continue to benefit from existing market access facilities for the next three years.
Addressing infrastructure challenges
Acknowledging that energy shortages pose a significant hurdle for the export sector, the minister said the government is working to install two additional Floating Storage Regasification Units (FSRUs). These units are intended to boost LNG imports and ensure better energy availability for industrial units.
Despite the backdrop of global economic volatility and geopolitical tensions, Muktadir expressed confidence that improved business conditions, bolstered by expanded trade agreements and increased investment, will allow Bangladesh to meet its targets and maintain a higher trajectory of growth.
