Muktadir urges export diversification to enhance Bangladesh’s global competitiveness

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Commerce, Industries and Textiles and Jute Minister Khandakar Abdul Muktadir has stressed export diversification, productive investment and sustainable partnerships to strengthen Bangladesh’s global competitiveness.

Speaking at a policy dialogue of the 11th Belt and Road Initiative (BRI) Summit in Hong Kong, he said Bangladesh needs to build an economy capable of adapting to global challenges while creating jobs and new opportunities.

He identified export diversification, improved connectivity, productive investment and green economic transformation as key priorities as Bangladesh prepares for LDC graduation.

Besides ready-made garments, Bangladesh is seeking to expand pharmaceuticals, leather, agro-processing, light engineering, IT and man-made fibre industries in global value chains.

Muktadir also highlighted opportunities for cooperation with China in economic zones, logistics and renewable energy, while calling for greater digital trade and cross-border e-commerce.

He said Bangladesh-China ties have been elevated to a “Comprehensive Strategic Cooperative Partnership” and noted that 17 agreements have recently been signed, including those related to Mongla Port and a Chinese economic and industrial zone in Chattogram.

He also urged Bangladesh to make greater use of Hong Kong’s role as a bridge between mainland China and global markets.