Diversify exports, deepen US-Bangladesh economic ties.
Commerce Minister Khandakar Abdul Muktadir today stressed the need for export diversification, enhanced market access, and increased investment flows to further strengthen the economic partnership between Bangladesh and the United States.
"Although the United States remains a key trading partner, Bangladesh's exports are still heavily concentrated in a single sector, making the economy vulnerable," he said.
The Minister made these remarks while speaking as the chief guest at a seminar titled "Advancing the US-Bangladesh Economic Partnership," organized by the American Chamber of Commerce in Bangladesh (AmCham) at a hotel in the city.
Highlighting the risks of over-dependence on the ready-made garments (RMG) sector, he called for urgent measures to diversify the country's export basket.
He said the government is prioritizing sectors such as pharmaceuticals, leather and leather goods, agricultural products, light engineering, and information and communication technology (ICT) to broaden export avenues.
Referring to Bangladesh's progress in ICT, the minister noted that the sector is expanding rapidly, supported by a young and skilled workforce.
On Bangladesh's upcoming graduation from the Least Developed Country (LDC) category, he emphasized the importance of ensuring continued market access in developed countries.
He said Bangladesh has proposed a three-year extension of trade benefits to facilitate a smooth transition following graduation, expected in November 2029, and sought cooperation from the United States in this regard.
Regarding investment, the minister acknowledged the contribution of US investment in the energy sector but noted that overall inflows remain below potential.
He observed that fluctuations in US foreign direct investment (FDI) in recent years highlight the need for stronger policy support to boost investor confidence.
The minister also underscored the importance of technology transfer and innovation, identifying the United States as a key partner in areas such as artificial intelligence, digital transformation, and ICT.
He pointed to growing opportunities for collaboration in service sectors including fintech, e-commerce, and digital services.
Earlier, AmCham President Syed Ershad Ahmed delivered the welcome address, while US Ambassador to Bangladesh Brent T. Christensen attended the seminar as the special guest.
