Export trophy policy amended

The commerce ministry has published an amended national export trophy policy raising the minimum value of products and services that have to be exported for eligibility alongside bringing more goods and services under its purview. 

The ministry gazetted the policy on March 29.

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The government has been awarding 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.

"Two major changes were made as the minimum value of the goods exported and categories were increased," said Md Abdur Rahim Khan, additional secretary to the commerce ministry, over the phone.

The minimum value was increased for each sector as the value of exports of local companies has been increasing, Khan also said.

At the same time, new export sectors are also performing strong for the diversification of goods exported from the country.

As a result, the product categories under which exporters are awarded have also been increased to 36 from a previous 32.

For instance, in the amended policy, separate categories for female exporters and furniture, tourism and hospitality sectors have been included for the awards.

Every category has three trophies -- gold, silver and bronze. The one earning the highest through exports receives the gold trophy, the first runner up silver and the second runner bronze, the gazette said.

Besides there is a separate "Bangabandhu Sheikh Mujib Export Trophy" for the company with the highest export earnings.

Total export earnings of the awarding year, previous years' earnings, exports to new markets, inclusion of new products to the export list and compliance to different regulations are considered during the selection.

Companies defaulting on loans and paying income tax are not eligible. In this regard, the selection committee takes into account certifications from the National Board of Revenue.

Any company found responsible for environment pollution loses eligibility for five years starting from the year in which the Department of Environment penalised that entity. A no-objection certificate is required from the environment ministry in this regard.