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The Export Promotion Bureau (EPB) has proposed an export target of $66 billion for fiscal year 2026-27, aiming to earn $57 billion from merchandise exports and $9 billion from services.

The bureau has submitted the draft target to the Ministry of Commerce for approval after consultations with government agencies and export-oriented trade bodies.

The proposal was finalised at a stakeholder meeting chaired by EPB Vice Chairman and Chief Executive Officer Mohammad Hasan Arif. Representatives from the BGMEA, BKMEA, Bangladesh Agro-Processors’ Association (BAPA), Metropolitan Chamber of Commerce and Industry (MCCI) and the Bangladesh Frozen Foods Exporters Association, among others, attended the meeting.

According to official documents, participants reviewed the global economic outlook, Bangladesh’s macroeconomic conditions, supply chain readiness and market diversification strategies before recommending the target.

The EPB said Bangladesh’s export sector has remained resilient despite mounting global challenges, including the economic fallout from the Russia-Ukraine war, tensions in the Middle East, persistent inflation and rising costs of imported raw materials, which have squeezed exporters’ profit margins.

The bureau also warned that Bangladesh’s graduation from least-developed country (LDC) status would gradually reduce access to preferential trade benefits, making export competitiveness even more important.

Commerce Secretary Md Ataur Rahman Khan said the government was reviewing the proposal.

“We have already held a meeting on the export target, which will be announced soon after finalising it for the current fiscal year. The EPB is currently working on the issue.”

During the consultations, business leaders urged the government to introduce policy support to help exporters achieve the ambitious target. Their recommendations included reducing logistics costs, accelerating implementation of the National Single Window and other trade facilitation measures, rationalising import duties on industrial raw materials and ensuring timely disbursement of cash incentives.

They also called for faster negotiations on bilateral and regional trade agreements, including Free Trade Agreements (FTAs), Comprehensive Economic Partnership Agreements (CEPAs) and Economic Partnership Agreements (EPAs), with major markets such as the European Union, Japan and South Korea to preserve market access after LDC graduation.

The ready-made garment (RMG) sector is expected to remain the country’s largest export earner, with the EPB proposing a target of $45.8 billion for FY27. Of that, $24.11 billion is expected from knitwear and $21.69 billion from woven garments.

Among other sectors, leather and leather products have been assigned an export target of $1.44 billion, including $810 million from footwear.

Agricultural products are expected to earn more than $1.17 billion, including $230 million from tobacco and $170 million from fruits.

Jute and jute goods have been targeted at $1.017 billion, with jute yarn and twine expected to contribute $620 million. Home textiles are projected to earn $1.065 billion, engineering products $803.8 million, and pharmaceuticals $290 million.

For the services sector, the EPB has set a target of $9 billion. Transportation services are expected to generate $1.65 billion, followed by other business services at $1.54 billion.

Computer and IT services have been assigned a target of $855 million, including $750 million from data processing and hosting services, while telecommunications services are expected to earn $935.82 million.

Officials said achieving the overall export target would require stronger performance across both manufacturing and services amid an increasingly challenging global trade environment.