$67b export earning target will be achieved despite global crisis: Tipu Munshi

Commerce Minister Tipu Munshi said the country will achieve the export earning target of $67 billion in 2022-23FY despite the ongoing global economic crisis.

"The government set an export revenue target of $67 billion this fiscal and achieved a 10% growth till November," he said during a press briefing organised ahead of the Dhaka International Trade Fair at Bangladesh-China Friendship Exhibition Centre on Saturday.

The month-long Dhaka International Trade Fair-2023 is set to begin on Sunday at the Bangabandhu Bangladesh-China Friendship Exhibition Centre in the capital's Purbachal area.

The commerce minister said, "This year the trade fair will have 331 stalls which is 106 more than last year."

He said, "Our target is to increase exports. According to statistics, our exports are increasing every year. The entire world is in turmoil due to the pandemic and the Russia-Ukraine war. Despite all these setbacks, the good news is that we will not be under any big pressure."

The minister said, "We were afraid that there would be a lot of pressure on us due to the crisis. But that did not happen. We are still having good growth."

Tipu Munshi said, "We have to develop the quality of our products so that foreign buyers come and like our products."

"Our target is to brand our products. The exports of our products from four sectors including jute and leather have crossed the billion-dollar threshold. We are exporting light engineering products to many countries. Our target is to export 10 types of products which will earn a billion dollars each. We expect $4b to $5b in exports from the ICT sector in the next three years," the minister said.

Purchase orders worth Tk200 crore expected at the fair

Commerce Minister Tipu Munshi said, "Last year, we got spot purchase orders of around Tk200 crore from the fair. We are expecting it to increase this year. However, our main goal in the fair is to attract foreign buyers to promote our products."

The Export Promotion Bureau (EPB) and the Ministry of Commerce have been organising the Dhaka International Trade Fair since 1995 to support the promotion, expansion, marketing and production of domestic products.

The annual event could not be organised in 2021 due to the Covid-19 pandemic. In 2022, the venue was shifted to Purbachal from the previous venue of Agargaon.

This year the trade fair will showcase a variety of local products including textiles, carpets, cosmetics and beauty aids, electrical and electronics, jute and jute products, leather/artificial leather and leather products etc.

17 foreign stalls

Ten countries including India, Hong Kong, Türkiye, Indonesia, Singapore, Malaysia, Korea, Pakistan, Thailand and Nepal will have 17 stalls at this year's trade fair.

Tipu Munshi said, "The price of food at the fair will be fixed in advance to keep it reasonable. The Directorate of National Consumers Rights Protection will monitor the issue."

The gate of the international trade fair will open at 10am every day and close at 9pm, except for the government holidays when the fair will run till 10pm. Every adult visitor will have to pay Tk40 for entry tickets while for minors the ticket price has been set at Tk20.

Bangladesh Road Transport Corporation (BRTC) will run a dedicated passenger bus service from Kuril Bishwa Road to the sector-4 of Purbachal New Town for the visitors of the trade fair.

Tipu Munshi said, "BRTC will run 70 buses. However, more buses will be provided if necessary. The bus fare will be Tk35 for each person."