The Government of Bangladesh has set an ambitious export target of $63.5 billion for the fiscal year 2025=26 (FY26), representing a 16.5 percent increase over the earnings recorded in the previous fiscal year (FY25).
The new target comprises $55 billion from goods exports and $8.5 billion from services, reflecting the government’s confidence in both traditional and emerging export sectors.
The announcement was made on Tuesday by Commerce Secretary Mahbubur Rahman during a press briefing at the Ministry of Commerce, attended by Commerce Adviser Sk Bashir Uddin. Rahman noted that the figures were set after extensive consultations with key stakeholders across various export-oriented industries.
Strategy and consultations ahead
Beginning next week, the Ministry will hold a series of meetings with industry leaders to identify sector-specific challenges, aiming to single out one or two major bottlenecks for each sector. The Ministry intends to coordinate closely with relevant government agencies to address these constraints in a systematic and collaborative manner.
Adviser Sk Bashir Uddin described the target as “quite conservative,” expressing confidence that actual export earnings could surpass the goal. He stressed the government’s focus on penetrating non-traditional markets and diversifying export products to enhance resilience and competitiveness.
Trade agreements and market access
As part of its broader trade strategy, Bangladesh is negotiating free trade agreements (FTAs) with Japan, South Korea, and Singapore. However, the adviser acknowledged that not all FTAs may deliver equal benefits for the country.
Bashir Uddin also highlighted the importance of securing and expanding duty-free access to key markets, particularly the UK and the EU. He confirmed ongoing discussions with the United States to reduce its reciprocal tariff on Bangladeshi goods from 20 percent to 15 percent.
Industry reaction and somestic challenges
Senior officials from the Commerce Ministry and representatives from major business sectors attended the press conference. Industry leaders welcomed the new target and voiced optimism about achieving it but stressed the need to address persistent domestic challenges. These include the ongoing energy crisis, instability in the banking sector, inefficiencies in customs procedures, and concerns over law and order.
India’s restrictions on jute imports
The commerce adviser also addressed India’s newly imposed restrictions on certain jute product imports from Bangladesh via land ports. He assured that the restrictions would have minimal impact on overall jute exports.
“We’ve already sent a formal letter to the Indian Ministry of Commerce. We are addressing the issue with the sensitivity it requires,” Bashir said.
The restriction, issued on Monday by India’s Directorate General of Foreign Trade (DGFT), limits the import of four specific jute items – jute fabrics, jute ropes, jute rope products, and jute bags—through land ports. These items may now only be imported through Mumbai’s Nhava Sheva port, with the directive taking immediate effect.
Despite the development, Bangladeshi trade officials remain confident that alternative export routes, diversified market strategies, and targeted policy measures will keep the jute sector stable and aligned with the country’s broader export objectives.