<div><span style="font-size: 1rem;"><b>Bangladesh's Ministry of Commerce has set an export target of $72 billion with 11.52 percent growth for the fiscal year 2023-24.</b></span><br></div><div><br></div><div>Export target for goods has been set at $62 billion while for the service sector, the target was set at $10 billion.</div><div><br></div><div>Export target achieved in FY 2022-23 was $64.55 billion, which saw a growth of 5.88 percent.</div><div><br></div><div>Goods worth $55.55 billion and services worth $9 billion were exported in FY 2022-23, and the growth were 6.67 percent and 1.25 percent respectively.</div><div><br></div><div>Commerce Minister Tipu Munshi today (July 12, 2023) made the announcement of the export target and achievements in the previous fiscal in a press conference at the ministry.</div><div><br></div><div>Prior to the announcement, the minister met with leaders of different business organizations and ministry officials.</div><div><br></div><div>Business leaders at the meeting urged the government to ensure uninterrupted gas and electricity supply to industries at affordable rates.</div><div><br></div><div>Otherwise, exports would be negatively impacted, they told the minister.</div><div><br></div><div>While announcing the new export target, Commerce Minister Tipu Munshi said the global economic slowdown has been considered when setting the new target.</div><div><br></div><div>Gas and power crises have also been considered while setting the target, the minister said.</div><div><br></div><div>While replying to a query, the minister said Bangladesh has some advantages including trained labour force, and affordable cost of products, reports UNB.</div><div><br></div><div>Besides, global entrepreneurs are relocating industries from China due to geo-political reasons, and Vietnam has a labour crisis, the minister said.</div><div><br></div><div>If Bangladesh can utilize these opportunities, exports can go beyond the target, the commerce minister added.</div><div><br></div><div>bnbd24/fas</div>