Export target failure

According to a report by UNB, we understand that more than half our missions abroad have failed to attain their export targets in the current fiscal (2014-15). It is sad to see that important embassies and high commissions abroad in cities like Washington, Berlin and London are among those on the list. Export earnings target for the July–December period fell short by more than $700 million, which is approximately 4.42 percent lower than the target set.

The picture is not one of total gloom and doom. Though many other missions have achieved set targets, it is important to recognise flagging foreign missions that need corrective measures to arrest the trend.

What is worrying is that out of the 17 Bangladeshi missions abroad that have designated commercial wings, only 6 managed to reach their respective targets. Obviously, something is not going well in the other 11 missions. The whole point of having commercial wings in embassies and high commissions is to explore new markets and consolidate existing ones. It is imperative that the concerned ministry look into the matter to identify the dismal performance of these wings and do what needs to be done to meet the targets set in the next fiscal.