Experts at a seminar on Saturday opined that the non-RMG product diversification vital for post-LDC export readiness, mentioning that there have not much time for export readiness as Bangladesh is going to graduate from LDC status in 2026 which is knocking at the door.
The seminar on “Bangladesh’s Export Readiness: post LDC graduation perspective” was organized by DCCI .
Ashraf Ahmed, President, Dhaka Chamber of Commerce & Industry (DCCI) moderated the seminar.
It is true that Government is firmly committed to support the business community by all means to create a commendable position in the international market but the private sector needs a sustainable policy reforms in the days to come, said DCCI President.
Ashraf Ahmed also said that the more conducive business environment we will be able to create, the faster we can achieve the ‘strategic bets approach’ to have more products on our basket.
Dr. Selim Raihan, Executive Director, SANEM made a power point presentation and said that LDC graduation will create many opportunities for us but to grab those we need to do massive pragmatic policy reforms.
He also said that our export basket is still RMG oriented but we have to have export diversification. For export readiness after LDC graduation he suggested for harmonization of monetary policy and fiscal policy, regulatory efficiency and regulatory quality, reducing NPL, ensuring long term financing from capital market. Moreover, we are lagging behind in trade logistics, he added.
Asif Ashraf, Director, BGMEA said that the special incentives to the RMG sector has been scaled down recently.
He raised a question to the authority that why this decision is taken before 2026. Still our export is dominated by the RMG sector, however, he termed non-cotton market as the most potential sector which is still untapped by the Bangladeshi manufacturers.
Mohammed Mahbubur Rahman Patwary, Managing Director, Sonali Aansh Industry Ltd. suggested to incentivize the other non-RMG but potential products to grow.
DCCI Vice President Md. Junaed Ibna Ali and members of the Board of Directors were also present during the seminar.
