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Bangladesh badly needs to diversify exports

Speakers observe at Ctg seminar

STAFF CORRESPONDENT, Ctg
Bangladesh must find newer avenues of exports to keep its economy rotating and remain competitive in the global market, said speakers at a seminar in Chittagong yesterday.
Dependence on apparel sector, which is fetching annually about 76 percent of the total export earnings, is obviously not a good sign, they told the seminar on exports potential of new products.
Export Promotion Bureau (EPB) and BGMEA (Bangladesh Garment Manufacturers and Exporters Association) jointly organised the daylong seminar. BGMEA Director ANM Saifuddin presided over the seminar while EPB Director General Mostafa Mohiuddin presented the keynote paper.
BGMEA First Vice-president put
accent on effective measures to create new export markets.
Saifuddin criticised the role of EPB in diversifying export basket and said EPB failed to perform the desired role.
"The activities of EPB are largely restricted to organising seminars, meetings and workshops and they have done virtually nothing to expand the export basket of non-traditional products, which have good prospects," the BGMEA director observed.
"We also need to develop sectorwise expertise and must maintain social and ecological standards of the markets when we go abroad with our products," Saifuddin suggested.
EPB director general claimed to have achieved some successes in export earnings, although he admit-
ted failures in some specific fields.
"Export earnings in the first six months (July-December) of 200405 fiscal was $4146.53 million, which is about 15.19 percent up over the corresponding period of last fiscal ($3599.66 million)," he said.
He, however, admitted that the base of country's export is not strong enough and said: "We badly need export diversification and find out newer markets."
Representatives of women entrepreneurs, bankers, nongovernment organisations and BGMEA members participated in the seminar.
BGMEA First Vice-president MA Salam and EPB Director in Chittagong Monzur Elahi also attended the meeting.