Diversification of Bangladesh's Export Basket:

Transcript:Diversification of Bangladesh's Export Basket::
Diversification of Bangladesh's Export Basket: Opportunities and Challenges Welcome to presentation on Presented by- Shubhashish Bose Chief Executive Officer Institute of Chartered Accountants of Bangladesh Name : The People’s Republic of Bangladesh Capital : Dhaka Location : South Asia (20º34‘ - 26º38‘) N La. 88º01'- 92º42‘ E Long Borders : India on the east, west and north ; on the south side lies the Bay of Bengal and a small border strip with Myanmar on the south-east. Area/Land : 147,570 square km. Population : 166.50 million (2019) Estimated GDP : US$ 333.89 billion US$ (2019-2020) GDP per capita : 2,064 US$ (2019-2020) Annual Export : US$ 39.76 billion (2019-20) Annual Import : US$ 55.63 billion (2019-20) 2 Bangladesh at a glance The export policy for the period 2018-2021. product diversification market diversification availing of China situation Base of the export strategy of Bangladesh Bangladesh is currently considered an export-driven economy. Before its independence and even long time after independence, Bangladesh used to be treated an agrarian economy as the agricultural sector contributed the most to the Gross National Product of the country. However, scenario has now changed and the contribution of the agri sector has declined to 15.5% .The development of the export sector of the country could be attributed to the following: 1. The Multi Fiber Arrangement from 1974 through 1994; 2. The Agreement on Textile and Clothing from 1995 through 2005; 3.World Trade Organization’s role in favour of LDCs; 4. Three Stage, Two Stage and Single Stage transformation for RMG provided by the Developed countries Background on the development of Export 7. Bonded Ware House facility provided by the Govt; 5. Joint Collaboration between Daewoo of Korea and Desh Garments of Bangladesh in training and installation of new machinery; 6. Generalized Systems of Preferences, Certificate of Origins and other preferential benefits; 9. Establishment of BEPZA; 10. Imposition of zero import duty on import of machinery for Export-oriented Manufacturing Companies; 11. Back-to-back LC facilities; 12. Introduction of Export Development Fund. 8. The Foreign Private Investment (Promotion and Protection) Act 1980; Continued There is a huge scope for establishing intermediate industries supporting to big companies wherein parts of machinery, equipment, accessories, part-products could be manufactured. Thailand, Vietnam, Indonesia are examples in this regard. With the establishment of intermediate industries, we would be able to see a spill-over effect on the economy of Bangladesh. It would be possible because of the