The Dhaka Chamber of Commerce and Industry (DCCI) has urged the government to accelerate free trade and preferential trade agreements, saying wider market access and stronger economic diplomacy will be critical to sustaining Bangladesh’s competitiveness after its graduation from least developed country (LDC) status.
The call came when DCCI President Taskeen Ahmed met State Minister for Foreign Affairs Shama Obaed Islam on Tuesday.
Taskeen said the Ministry of Foreign Affairs should play a more proactive role in facilitating Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs) with countries offering significant trade potential, according to a DCCI statement.
He also stressed the need to diversify both export products and export destinations to help Bangladesh navigate the post-LDC trading environment.
According to Taskeen, Bangladesh has significant opportunities to expand trade and investment with countries in Africa, South America and Southeast Asia. Realising those opportunities, he said, will require stronger economic diplomacy.
He also proposed simplifying direct payment mechanisms to facilitate bilateral trade and investment with African countries, particularly in contract farming, information technology and agriculture.
Responding to the proposals, Shama Obaed said the government remains committed to signing trade agreements that support stronger bilateral trade and investment with Africa and other promising markets.
She said closer collaboration between the government and the private sector would be key to achieving positive outcomes in expanding trade and investment.
According to the state minister, African countries offer substantial market potential for Bangladeshi products, including jute and jute goods, leather and leather products, pharmaceuticals, fruits and ceramics. She encouraged local entrepreneurs to explore those opportunities more actively.
Shama Obaed also underscored the need to strengthen private sector capacity to address post-LDC graduation challenges while promoting export diversification and market expansion.
DCCI Senior Vice President Razeev H Chowdhury, Vice President Md Salem Sulaiman, Acting Secretary General A K M Asaduzzaman Patwary and Foreign Ministry Director General for International Trade, Investment and Technology Syed Muntasir Mamun also attended the meeting.
