The United Nations Development Programme (UNDP) has expressed its interest in strengthening co-operation with Bangladesh to attract investment, ease business and trade, reduce logistics costs, and enhance the capacity of Micro, Small, and Medium Enterprises (MSMEs).
In a high-level meeting held on Sunday at Secretariat between Commerce Minister Khandakar Abdul Muktadir and UNDP Bangladesh Resident Representative Stephen Rodriques, the organisation also conveyed its commitment to working on boosting the country’s export capacity and developing its skills in international trade negotiations.
Growing investment potential
During the discussion, the UNDP representatives noted that Bangladesh’s investment potential is steadily rising.
They emphasised the importance of capitalising on these opportunities while simultaneously strengthening local businesses and ensuring the environmental and social standards of business operations.
In response, Muktadir highlighted that the current government has undertaken various initiatives to simplify business licensing and approval processes.
He pointed out that certain procedures which previously required nearly three months to complete are now being processed within two weeks.
He assured that further measures would be taken to make these processes even more streamlined, rapid, and effective.
Improving port and terminal efficiency
The meeting also focused on addressing the country’s high logistics costs and improving efficiency in port and terminal management.
Muktadir reiterated the government’s firm resolve to enhance Bangladesh’s commercial competitiveness by reducing cargo handling times and costs through the implementation of international-standard management systems.
Underscoring the MSME sector as a vital pillar of the national economy, he sought the UNDP’s co-operation in identifying financing deficits, providing training and business skill development for entrepreneurs, and establishing effective market linkages.
Global supply chain integration
Rodriques highlighted the potential of integrating small and medium enterprises into global supply chains and making them export-oriented.
He expressed interest in supporting Bangladesh by providing training, supplying necessary tools, and facilitating the exchange of international experiences to minimise unnecessary delays in customs procedures, facilitate trade, and bolster the country’s negotiation capacity during international trade agreement talks.
Expressing strong optimism regarding recent developments and economic prospects in Bangladesh, Rodriques stated that the UNDP would realign its assistance to match the government’s core priorities of job creation, economic growth, and economic diversification.
He also remarked that international investors are viewing Bangladesh’s recent changes in a positive light.
The high-level delegation from the UNDP and government representatives present at the meeting included Joint Secretary (FTA) Mahbuba Khatoon Minu, UNDP Deputy Resident Representative Sonali Dayaratne, Assistant Resident Representative Anowarul Haq, Economic Adviser Owais Parray, and Project Manager Maruf Azam.
