Seek new markets, product diversity, not GSP tariffs: PM
Senior Correspondent bdnews24.com
Published: 2017-01-01 16:33:02.0 BdST Updated: 2017-01-01 16:33:02.0 BdST
Prime Minister Sheikh Hasina has urged business groups to find new markets and diversify their product base to boost exports, instead of looking for GSP tariff.
During the opening ceremony of the Dhaka International Trade Fair on Sunday, Prime Minister Sheikh Hasina said “I have been to a few countries… and I have seen that they do not provide GSP. Instead of chasing GSP tariffs, you should find new spaces and new markets.”
The prime minister said: “Consider what products we can offer which others can't and the speed with which they can be supplied. Eventually other companies will be looking to you.”
Prior to that, Bangladesh could supply the US market with 5000 types of products duty-free under the GSP.
“We are exporting goods to many countries. But, instead of sticking to our conventional exports, we should see what is in demand in the world market and try to diversify our product base accordingly.”
Businesses have to take the initiative to seek out new markets, Hasina said.
“We must ensure that the products we create are up to a standard and that we give special attention to ensure that they are of a quality that can be sold in the market.”
A gold trophy for the most export sales was presented to Zaber and Zubair Fabrics Ltd.
The prime minister also visited some of the stalls at the Trade Fair after the opening ceremony.
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