The export target for fiscal 1998/99 (July-June) in this sector is $319.14 million, up 8.7 per cent from last year's $293.61 million in exports. The bulk of fish exports consist of shrimp.

"We expect higher exports on higher yields. The cultivatation areas for mostly shrimp have been increased and improved technology for production introduced," said Golam Mostafa, president of the Bangladesh Frozen Fish Exporters Association (BFFEA).

Bangladesh currently has 142,000 hectares of land with water used for cultivating shrimp, a 10 per cent rise from last year's production area, he said.

But the sector could earn more foreign exchange by exporting frozen fish to European and Middle East countries, Mostafa said.

"This all depends on the improvement of the quality and increase of yield. If facilities are available we can raise our production four Times and expand the market to earn $1.5 billion a year," he told Reuters.

He said the present average per hectare yield was 250 kg against 1,500 kg in Thailand. "We can easily raise our yield to 1,000 kg if certain facilities are provided," he said.

These included infrastructure facilities such as the leasing of government land, bank credit on easy terms and the provision of technical know-how on modern hatchery.

He said: "We face an acute shortfall of shrimp fries in the country, which forced nearly half of the 120 production plants to close down over past several years."

"We need at least 152,000 tonnes of raw materials (shrimp) to run the all plants, but we have only 30,000 tonnes," he said.

Mostafa said there was ample scope for joint ventures with developed partners. "We invited entrepreneurs from the United States, Japan and some European countries for the setting up of joint venture projects in the sector."

He said Bangladesh already attained the US and EC-introduced standard of "hazard and analysis critical country point (HACCP)" for ensuring safety and sanitary requirements at fish processing plants to prevent contamination.

"Bangladesh is among the 32 countries which attained this standard and are allowed to export to those countries," he said.

Bangladesh was barred for a few months from exporting its shrimp following inspections by the European Commission in 1997.

"But within seven months, several of the Bangladeshi plants achieved the standard and resumed exports," Mostafa said.

Bangladesh enjoys duty free export facilities to EU countries. Thailand, China, Indonesia and India are Bangladesh's major competitors in the sector.