We were given the opportunity to make a report on Export Strategy of Bangladesh. To complete the report we faced some obstacles, but managed to complete the case within the given time constraint. It would not have been possible without the guidance and assistance of certain people.
At the very beginning I would like to express my gratitude to Almighty Allah for enabling me to prepare this report. I express my gratitude to Mr. ABM Siddique, for his kind permission to allow me for three months practical example.
I am also thankful to all other departmental heads, official, teachers, for their sincere co-operation and support. Last but not the least; it would not be ...view middle of the document...
Keep it simple, but make sure everyone in the company involved in achieving export results is aware of the plan and has a sense of engagement with it.
Developing a sound export strategy helps you define your export aims and match your resources to those aims. Your export strategy will help you manage the market sectors you have identified as core business. Focusing your resources enables you to provide quality responses and service to your new export customers.
A well-developed export strategy will help in dealing with a range of service providers. It singles you out as a company that has well-developed, realistic goals and programs designed to achieve them.
Export strategy is to ship commodities to other places or countries for sale or exchange. In economics, an export is any good or commodity, transported from one country to another country in a legitimate fashion, typically for use in trade.
In order to stimulate rapid economic growth of the country, particularly through industrialization, the government has adopted an 'Open Door Policy' to attract foreign investment to Bangladesh. The Bangladesh Export Processing Zones Authority (BEPZA) is the official organ of the government to promote, attract and facilitate foreign investment in the Export Processing Zones.
Background: Immediately after the founding of Bangladesh, tea and jute were the most export-oriented sectors. But with the constant threat of flooding, declining jute fiber prices and a significant decrease in world demand, the contribution of the jute sector to the country’s economy has deteriorated. of foreign exchange starting in 1980, and exported about $5 billion USD in 2002.
The industry employs about 3 million workers of whom 90% are women. Two non-market factors have played a crucial role in ensuring the garment sector’s continual success namely (a) quotas under Multi- Fibre Arrangement1 (MFA) in the North American market and (b) preferential market access to European markets.
Until the liberation of Bangladesh, the textile sector was primarily an import-substitution industry. It began exporting ready-made garments (RMG) including woven, knitted, and sweater garments in 1978, which grew spectacularly during the next two and a half decades-from US$3.5 million in 1981 to US$10.7 billion in FY 2007. Apparel exports grew, but initially, the RMG industry was not adequately supported by the growth up and down the domestic supply chain (e.g., spinning, weaving, knitting, fabric processing, and the accessories industries). Until FY 1994, Bangladesh's RMG industry was mostly dependent on imported fabrics-the Primary Textile Sector (PTS) was not producing the necessary fabrics and yarn.
Export policy of Bangladesh:
▪ Updating and liberalizing the trade regime in accordance with the needs and
Requirements of the World Trade Organization and globalization;
▪ Encouraging labor-intensive (especially female labor) export-oriented production;