The New Nation - Internet Edition

BUSINESS REPORT

Bangladesh missions abroad and their commercial wings have failed to play any effective role in expansion of the country's export earnings.

During the last fiscal year of 2007-08, ten commercial wings of the country's foreign missions earned less than 52.45 percent of their export earning targets. As a result, Export Promotion Bureau (EPB) has been failing to fulfill its annual export targets.

According to the information available with the EPB, three Bangladesh missions in Washington, Berlin and London, and their commercial wings were asked to fulfill export targets worth several hundred crores of dollars. But, they have failed to fulfill their targets.

Only six, out of 16 commercial wings at Bangladesh missions abroad succeeded to fulfill their respective export earning targets in 2007-08 fiscal year. These were Moscow, Canberra, Dubai, Paris, Kuala Lumpur and Tokyo commercial wings. They succeeded to achieve the export earnings of US$136.12 crore against their targets of US$118.20 crore. The growth in export earnings of these commercial wings was 120.72 percent.

But, the commercial wing at Washington was given an export earning target which was more than three times higher than these six missions and commercial wings.

Ten commercial wings which could not achieve their export earning targets in last fiscal year are Washington, Berlin, London, Brussels, Ottawa, Madrid, Beijing, New Delhi, Yangon and Tehran. The total export earning targets of these 10 commercial wings was US$1,270 crore. But, they succeeded to achieve real export earnings of US$964.99 crore, which was 52.45 percent lower than the export earning targets. However, the targets were 181.2 percent higher than the preceding year.

Sources at the EPB said although Bangladesh has 44 missions abroad, they have been failing to play effective roles in raising the country's export earnings. Some half of these missions have been failing to achieve their export earning targets every year.