The commerce ministry is likely to place before the cabinet meeting today a new national export trophy policy, which seeks to increase the number of product categories from 21 to 39.
The government is planning to give away 'National Export Trophy', an export performance award, to 351 individuals and companies for three years to encourage export diversification.
The Ministry of Commerce has finalised the new policy suggesting increasing the number of products for export trophy from 21 categories to 39.
The new policy, 'National Export Trophy Policy 2006', which was previously styled 'President Export Trophy Sub-Rules 1990', is likely to be discussed today (Monday) at the cabinet meeting.
If the cabinet approves the policy, the government will present the trophies by the end of April for fiscal year 2002-03, FY 03-04 and FY 04-05, sources said.
The commerce ministry after consulting Board of Investment (BoI), Bangladesh Bank, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Export Promotion Bureau (EPB) and Chittagong Chamber of Commerce and Industry (CCCI) finalised the policy.
In the changed policy new products such as fabrics, silk, jute yarn, footwear, vegetables and flower, cement, herbal medicine, plastic products and cold rolled coil were suggested to be included for export trophy.
In the proposed policy, the minimum export income for being eligible for export trophy was set at US$12 million for readymade garment, $10 million for knitwear, $5 million for yarn, $3 million for textile, $8 million for frozen foods and $10 million for leather products.
Awarding export trophies was first introduced in 1978 and the government for the last time distributed the trophies in 2004 for four years.
