The EPB has also fixed $13.11 billion and $15.21 billion targets for the fiscal years 2007-08 and 2008-09.

The export target for the current fiscal year is around $1.34 billion more than that in the last fiscal year.

According to EPB data, the country's export saw the highest-ever surge in terms of volume in FY06, fetching around $1.8 billion more over the previous year. The $10.5 billion export earning also exceeded the target of $10.16 billion in FY06. In fiscal 2004-05, the country bagged $8.65 billion exports.

"The achievement in the last fiscal year gives us the confidence. Outstanding performances by some major exporting sectors such as RMG and leather and leather goods also inspire us to set the target," said Mir Shahabuddin Mohammad, vice chairman of EPB.

He said, "The target is not ambitious. The target is based on economic growth and international market trends."

Besides, safeguard measures imposed by the US against Chinese products until 2008 will also help increase Bangladesh's exports, he hoped.

To achieve the target, the EPB vice-chairman said, the government should give more priority to ceramic, pharmaceuticals, melamine, light engineering, plastic, agro-based products and shrimp.

As per the target, export performance in the next three years has to grow 13.20 per cent, 14 per cent and 15.9 per cent.

He said, "Bangladeshi exporters have become more aware about the trend of international market. So, it is not impossible to reach the target."

Besides, investment in the RMG sector increased substantially, which may result in higher export growth in the current fiscal, he added.

"We have the confidence to achieve more in the coming year if the government support to the RMG sector continues," said Fazlul Haq, president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

According to EPB data, the US remained the single largest destination for Bangladeshi goods fetching around $3 billion in FY 2005-06. Around 52 per cent of the total earning came from the EU countries.

The EBP vice-chairman said, "We have to diversify our export market to increase earning."

Citing an example, he said Malaysia has 42 trade facilitation offices around the world, which helps the country post tremendous export growth. He said, "Along with our foreign missions we have to launch this type of trade promotional offices to promote Bangladeshi goods."