The Bangladesh government has set an export earnings target of $63.4 billion for the 2026-27 fiscal year, aiming to strengthen export diversification and expand market access despite global economic uncertainties.

Commerce Minister Khandaker Abdul Moktadir announced the target at a press briefing held at the Ministry of Commerce on Sunday. The event was also attended by Commerce Secretary Md. Ataur Rahman Khan and Export Promotion Bureau (EPB) Vice Chairman Mohammad Hasan Arif.

Under the new target, the government expects to earn $55.2 billion from merchandise exports and $8.2 billion from services exports, with both sectors projected to achieve 15% year-on-year growth.

The minister said Bangladesh’s export sector has significant recovery potential despite challenges posed by global economic uncertainty, geopolitical tensions, and volatile international markets. He said the government is working to create a more business-friendly environment by simplifying investment procedures and improving public service delivery to boost exports.

Moktadir also revealed that negotiations on Free Trade Agreements (FTAs) with South Korea and the United Arab Emirates (UAE) are in their final stages. The government aims to conclude FTAs with several more countries within the year and expects formal negotiations with the European Union to begin soon.

Highlighting the importance of export diversification, the commerce minister said Bangladesh is seeking to reduce its heavy reliance on the ready-made garment (RMG) sector by promoting industries such as leather and leather goods, footwear, shipbuilding, ship recycling, light engineering, and information technology.

Commenting on the United States’ tariff policy, he said there has been no major change in the effective tariff structure applied to Bangladeshi exports. The existing 10% tariff remains in place under the new framework, meaning no additional negative impact on exports is expected.

Addressing energy concerns, Moktadir acknowledged that limited natural gas supply has prevented industries from fully utilizing their production capacity. He said the government is taking steps to install additional Floating Storage and Regasification Units (FSRUs) to increase liquefied natural gas (LNG) imports and improve gas availability.

The minister expressed confidence that policy stability under an elected government, business-friendly reforms, new FTAs, and growing international buyer confidence would help Bangladesh achieve its export target for the upcoming fiscal year.

He added that the government aims to inject new momentum into the country’s export sector through coordinated efforts to improve the ease of doing business, explore new markets, and expand the range of export products.