Export diversification key to survival in quota-free era
DCCI seminar told
Star Business Report
As the readymade garment sector is faced with stiff competition following quota-phaseout, speakers at a seminar yesterday underscored the need for diversifying the export basket to survive in the global market. "Majority of our export earning comes from the RMG sector and we are facing tough challenge in the global market in the quota-free era," said Commerce Minister Altaf Hossain Choudhury speaking at the seminar as chief guest. Stressing the need for adding more products to the export basket, he listed pharmaceutical, agro-processed and light engineering items, ceramics, frozen food, leather and Information and Communication Technology (ICT) as potential areas to increase export income. The Dhaka Chamber of Commerce and Industry (DCCI) organised the seminar on 'Result-Oriented Participation in the International Trade Fair' at its auditorium. The minister said despite having limited resources, the government has taken measures under which the exporters can participate in different international fairs, adding that it is a chance for them to get an exposure abroad. Altaf said those who participate in the international fairs should not only concentrate on selling their products on the spot but think of getting more export orders to increase the earnings. DCCI President Sayeeful Islam chaired the seminar while Export Promotion Bureau (EPB) Vice-chairman Mir Shahabuddin Mohammad also spoke. In his speech, Shahabuddin said the EPB has already set up some projects for diversifying export items, recommending the entrepreneurs to initiate measures for developing new products. Participating in the discussion, exporters alleged that the EPB officials do not give proper attention to the exporters when they go to different international fairs. The officials were seen busy browsing through the foreign cities instead of giving full support to the local exporters and keeping communication with the Bangladesh missions, they explained. The commerce ministry officials present at the meeting brought counter allegation against the exporters for not participating in the international fairs properly. “We have record where we found names of 45 exhibitors to participate in international fair, but finally only five exhibitors turned up. This incurred a huge loss of government money and nobody cares it," the EPB vice-president added.
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