Edimon Ginting, Mohammad Abdur Razzaque, Rana Hasan
{"title":"Export Diversification in Bangladesh: Overcoming Policy Impediments","authors":"Edimon Ginting, Mohammad Abdur Razzaque, Rana Hasan","doi":"10.1111/aepr.12487","DOIUrl":null,"url":null,"abstract":"Despite substantial socio‐economic progress driven by the readymade garment (RMG) industry, Bangladesh faces a severe export concentration due to its heavy reliance on a single export sector. This present paper examines the policy barriers hindering export diversification in Bangladesh and suggests measures to tackle the problem. It highlights that excessive tariff protection has favored import‐competing sectors creating an anti‐export bias. To promote export diversification, Bangladesh must implement effective tariff rationalization measures to address the policy‐induced disincentives for exports. Additionally, attracting foreign direct investment, improving the investment climate, and addressing infrastructural and logistical challenges are crucial for enhancing the non‐RMG export response.","PeriodicalId":45430,"journal":{"name":"Asian Economic Policy Review","volume":null,"pages":null},"PeriodicalIF":4.5000,"publicationDate":"2024-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Asian Economic Policy Review","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1111/aepr.12487","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
Despite substantial socio‐economic progress driven by the readymade garment (RMG) industry, Bangladesh faces a severe export concentration due to its heavy reliance on a single export sector. This present paper examines the policy barriers hindering export diversification in Bangladesh and suggests measures to tackle the problem. It highlights that excessive tariff protection has favored import‐competing sectors creating an anti‐export bias. To promote export diversification, Bangladesh must implement effective tariff rationalization measures to address the policy‐induced disincentives for exports. Additionally, attracting foreign direct investment, improving the investment climate, and addressing infrastructural and logistical challenges are crucial for enhancing the non‐RMG export response.
期刊介绍:
The goal of the Asian Economic Policy Review is to become an intellectual voice on the current issues of international economics and economic policy, based on comprehensive and in-depth analyses, with a primary focus on Asia. Emphasis is placed on identifying key issues at the time - spanning international trade, international finance, the environment, energy, the integration of regional economies and other issues - in order to furnish ideas and proposals to contribute positively to the policy debate in the region.