Export Trophy: Govt raises number of eligible sectors to 36

The government has amended the national export trophy policy by raising the number of eligible sectors for the award to 36 from 32.

The sectors include denim fabrics and denim-made garments, computer equipment, computer services, printing and packaging, garment accessories, furniture, tourism and hospitality.

The Commerce Ministry issued a gazette notification in this regard on March 29.

The government has been handing over trophies and certificates to merchandise and services exporters recognising their contributions to the nation through the creation of millions of jobs and earnings of billions of dollars in foreign currency every year.

According to the amended policy, both domestic and foreign companies and organisations will receive export trophies and certificates at the national level in recognition of their contribution to the growth of Bangladesh’s exports on the basis of export earnings and diversification. Previously, only local organisations were eligible for the trophy.

Meanwhile, the government has raised the minimum income limit for the eligibility to apply for export trophies.

Previously, companies with exports between $0.25 million and $30 million across 32 sectors were eligible to apply. Now, depending on the sectors, the income limit has been raised from $.50 million to $70 million. Besides, the government has introduced a new trophy and certificate named as 'Bangabandhu Sheikh Mujib Export Trophy' in the amended policy.

The award will be given to companies that earn the most foreign exchange through exports. However, the recipient of the Bangabandhu Sheikh Mujib Export Trophy will not be awarded any trophy from the general category.

As per the Export Trophy Policy 2013, one tola or one bhori or 11.66 grams of 22 carat pure gold was used in each trophy.

In the new policy, it has been reduced to 10 grams. Also, instead of 22 carat pure gold, 18 carat gold will be used in the trophies.

However, the Bangabandhu Sheikh Mujib Export Trophy awarded to the best exporter will have Bangabandhu’s portrait engraved on it. The gold medal will use two tolas or 23.32 grams of 18 carat gold. The trophy will have the word Top Exporter’ engraved on it.

Two committees of the commerce ministry will select the recipients of the National Export Trophy. A 13-member committee headed by the additional secretary of the ministry’s export wing will make the initial selection. Later, a 14-member committee headed by the secretary of the ministry will make the final selection.

The selection recommended by the committee will need to be approved by the commerce ministry and finally, the prime minister.