Export market crisis

Md Rezaul Karim By Md Rezaul Karim, 17th Sep 2012 | Follow this author | RSS Feed | Short URL http://nut.bz/1b8fsoey/
Posted in Wikinut>Writing>Essays

Foreign market is never a sweet and right for ever, countries grow and fall in quest of meeting demand and supply, hence, new market searching is inevitable. The sooner the better.

Export earning declining and new export market searching.


In future India, mid-east and Africa could be Bangladesh’s export market. What is needed to be done is the diversification and product differentiations. Not to mention at present export means –garments and related products that holds the 80% export earnings. Once export means- jute, tea, leather and fisheries items. The main importing countries are actually the West, meaning the confinement of exports; strategically it is not good for an exporting country.

This is a time when export earnings are on a declining mode, in July-November (2010-11) export earnings were 17.33% increased, which is 3.55% shorter than expected. Interestingly good improvement is recorded on other sectors like – knit, woven, jute, and leather items.
The government is extending its consulate offices abroad to focus trade and manpower exports. Meanwhile, Bangladesh exported 970,97,00,000/- Taka products in the same period of time, which was 827,52,00,000/- Taka in the previous year.

Strategic mapping is very important in strategic planning of manpower export from Bangladesh, in the coming 5-10 years. Only depending on a specific zone or region might not be proven to be effective and risky too. Inter regional connectivity could play as an impetus in this regard. In fostering export diversification and differentiation have no alternatives. A balancing kind of adjustments or mixing is required. In this regard, policy consistency and implementation of strategy are to be taken care of.
In the South Asian businesses it is not working properly as the countries have long list of sensitive products. This sensitivity limiting the scope of trading within the region, which plummeting the outcome and trade volume, where as in Europe 85% trades are concluded among the EU countries. India could be a good exporting market for Bangladesh as it has a good size of geography and population too, for the mid-east a good number of Bangladeshi population and workers (population’s 10% are migrated workers) who are bonafide customers of Bangladeshi products.

For an effective export we need to remember some points in this regard- viz., good demand for products, business environment, entrepreneurship, production bases, technological leverage, GSP facility, and preferential advantages. Presently Bangladesh is exporting 176 items to 217 countries. After liberation in 1972-’73 the exporting countries were 68. Most of all like all other strategies it is needed to be a flexible one and must have alternatives to choose from like jockeying from one horse to another.

Tags

Export, Foreign, Foreign Countries, Foreign Direct Investment, Foreign Exchange, Foreign Fiancee, Foreign Investment, Foreign Investments

Meet the author

author avatar Md Rezaul Karim
I am a teacher engaged with the Southern University Bangladesh. I Like to use my spare time by writing and reading. I take it as a fun and source of inspiration in pursuing knowledge.

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Comments

author avatar Md Rezaul Karim
18th Sep 2012 (#)

Thank you Steve for moderating it.

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author avatar Buzz
18th Sep 2012 (#)

I've gained insight, my friend, from your article. Thanks.

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author avatar Md Rezaul Karim
19th Sep 2012 (#)

Thank you Buzz once again after a while.

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author avatar Delicia Powers
18th Sep 2012 (#)

Thank you Md, very valuable information....

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author avatar Md Rezaul Karim
19th Sep 2012 (#)

My pleasure Delicia to read you here.

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author avatar Sivaramakrishnan A
18th Sep 2012 (#)

Nice share, Karim. Exporting to neighboring countries reduces freight costs and environment friendly. Also, the product arrives in better shape and fresher. Both countries benefit in the bargain. After all, aren't we same? All perceived differences are in our minds! Our destination is the same - the clock is ticking for all! - siva

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author avatar Md Rezaul Karim
19th Sep 2012 (#)

Fact is EC made themselves rich as majority of trades have been done within the member states. Why couldn't we do it here? Thanks for stopping by.

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author avatar M G Singh
18th Sep 2012 (#)

Karim, all countries from the sub continent have poor exports. They have to do better.

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author avatar Md Rezaul Karim
19th Sep 2012 (#)

Right you are, we must follow others who are developing thru' cooperation. Only we three countries have bad relationships- Why ? History is there. But pity political interests are the culprits. Thank you Madan.

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author avatar Treyward
19th Sep 2012 (#)

A very captivating piece. Thank you.

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author avatar Md Rezaul Karim
20th Sep 2012 (#)

Thank you Treyward for your precious time.

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author avatar Judy Ellen
19th Sep 2012 (#)

Through importing and exporting of goods, mankind has developed friendships, a better understanding, love and appreciation of our differences. I believe God planned it that way so that we would come together out of need and learn to love one another! Thank you for the education and for exporting so much wisdom to us from across the globe!!

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author avatar Md Rezaul Karim
20th Sep 2012 (#)

True. Out dialect in Chittagong has a lot to owe to the various merchants that historically visited us - namely, French, Portuguese, Chinese, Persian and English. We've many words in our languages that are deep rooted to those foreign languages, which we never notice when talking!

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