The present policy framework requires export payments to be realized through banking channels in convertible foreign currencies.
Bangladesh is trying to explore untapped export markets from Central Asia to EuroAsia, from Western Asia to Africa, from the Caribbean to South America and many more destinations.
It means that export focus will be wider without limiting to Europe and North America.
Different initiatives have been going on since long, like multilateral or bilateral free trade arrangements, initiatives for duty free market access and so on.
Export markets for Bangladesh are still Europe and North America.
In a practical situation, competitive advantage does not work for trade transactions.
Bangladesh exports goods to upper income countries whose economies depend on service sectors.
Banking is a part of service industries. Banking transactions in our current export destinations of Europe and North America are very strong, wide and deep.
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