Export Management in Bangladesh

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Executive Summary

Like many other third-world countries, Bangladesh rely quite heavily on exports to provide for the needs of its densely populated nation. The same products sold locally will generally fetch a much lower price than they would on the international market. This means that it is far more profitable for the country to engage in exportation than it is to engage in local trade. While this may mean that a large percentage of the countries GDP is sent off abroad as Bangladesh exports instead of being enjoyed by the country’s own people, it also allows for a steady influx of foreign currency.

CURRENTLY BANGLADESH’S MAIN EXPORT ITEMS ARE GARMENTS, JUTE AND JUTE-RELATED GOODS, LEATHER, FROZEN FISH AND SEAFOOD. JUST THREE YEARS AGO THE COUNTRY MADE OVER $2 000 BILLION FROM EXPORT TRADE. TOTAL EXPORT EARNINGS REGISTERED A 21.63% INCREASE DURING 2005-2006 AND ROSE TO US$ 10156 MILLION (16.03% OF GDP) FROM US$ 8655 MILLION (14.18 OF GDP) IN 2004-2005. EXPORTS INCREASED CHIEFLY DUE TO HIGHER DEMAND IN BOTH DEVELOPED AND DEVELOPING COUNTRIES. GARMENTS HAD THE MAJOR SHARE (38.86%), FOLLOWED BY KNITWEAR AND HOSIERY (35.43%), FROZEN FOODS (4.43%), JUTE GOODS (3.94%) LEATHER (2.31%), CHEMICAL PRODUCTS (2.52%) AND RAW JUTE (1.03%).

THE MAJORITY OF THE COUNTRY’S TRADE IS CONDUCTED WITH THE USA BUT A SMALL PORTION OF EXPORTS ALSO SEES ITS WAY TO GERMANY, THE UK, FRANCE AND ITALY.

CONTINUED EFFORTS ARE UNDERWAY TO CREATE MARKETS FOR BANGLADESHI. ALREADY DUTY FREE ACCESS HAS BEEN AVAILED FOR THE MARKETS IN EUROPEAN UNION, CANADA, AUSTRALIA AND NORWAY. THOUGH IN LIMITED SCALE. BANGLADESHI PRODUCTS ALREADY FOUND THEIR ACCESS WITH LOWER DUTY IN THE MARKETS OF THAILAND, INDIA AND PAKISTAN. TALKS ARE UNDERWAY WITH CHINA, RUSSIA, MALAYSIA AND OTHER NEIGHBORING COUNTRIES IN THIS REGARD. A GOOD RESULT IS BEING EXPECTED WITHIN A SHORT PERIOD. BUT DUTY FREE ACCESS OR SPECIAL FACILITIES ARE NOT EVERYTHING; RATHER THE USE OF SUCH ADVANTAGES IS THE MAIN CONCERN.

By moderating all the issues there could be a possibility to solve all problems in exporting and to make long established successful working/business environment. Priority basis all of the problems raised as crisis should meet up by the concern authority all of their requirement to enhance our export growth as well as emerging sector to be more grown up

1.1 INTRODUCTION

THE THEORY OF INTERNATIONAL TRADE AND COMMERCIAL POLICY IS ONE OF THE OLDEST BRANCHES OF ECONOMIC THOUGHT STARTING WITH THE ANCIENT GREEKS UP TO THE PRESENT ERA. EXPORTING IS A MAJOR COMPONENT OF INTERNATIONAL TRADE, AND THUS IS ARGUED CONSTANTLY AND CONSISTENLY THROUGHOUT THE AGES.

REGARDLESS OF THE METHOD FOR THE TRANSFER OF AN ITEM THE TRANSACTION IS CONSIDERRED AN EXPORT. METHODS OF TRANSFER INCLUDE A PRODUCT OR GOOD BEING MAILED, HAND-DELIVERED, DOWNLOADED FROM AN INTERNET SITE. IT CAN BE SENT IN THE FORM OF A FACSIMILE, EMAIL OR DURING A TELEPHONE CONVERSATION. IN MOST COUNTRIES, IT REPRESENTS A SIGNIFICANT SHARE OF GDP.

EXPORT DEFINITION

AN EXPORT IS ANY GOOD OR COMMODITY, SHIPPED OR OTHERWISE TRANSPORTED OUT OF A COUNTRY, PROVINCE, TOWN TO ANOTHER PART OF THE WORLD IN A LEGITIMATE FASHION, TYPICALLY FOR USE IN TRADE OR SALE. EXPORT PRODUCTS OR SERVICES ARE PROVIDED TO FOREIGN CONSUMERS BY DOMESTIC PRODUCERS.

EXPORT STANDS FOR

E - STANDS FOR EMERGENCY

X - STANDS FOR EXPORT

P - STANDS FOR PERFORMANCE

O - STANDS FOR OPPORTUNITIES

R - STANDS FOR RIGHT

T - STANDS FOR TIME

EXPORT STANDS AT A GLANCE – EMERGENCY EXPORTS PERFORMANCE AND OPPORTUNITIES FOR RIGHT TIME USE.

EXPORTER’S MOTTO : THINK GLOBALLY, ACT LOCALLY AND COORDINATE REGIONALLY.

MOTION AND ACTION : FLEXIBILITY, REACTIVITY, COMPETITIVENESS, PRODUCTIVITY.

Trade Terms /Incoterms

Trade Terms/Incoterms are required to export any item from one...
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