The ongoing global trade conflict, particularly between the United States and China, has opened up new opportunities for Bangladesh, according to prominent economists.
Policy Exchange Bangladesh Chairman Masrur Riaz emphasised on Monday that as American imports shift away from China, Bangladesh stands in a prime position to capture a share of this changing global market.
Speaking at a seminar titled “Bangladesh’s Actions in the Context of Trade War and the Role of FBCCI,” organised by the Bangladesh Business Forum (BBF) at a Dhaka hotel, Masrur Riaz pointed out that Bangladesh, with its non-aligned political stance, could emerge as a key player in global trade. He called for enhanced competitiveness, improved trade facilitation, and product diversification to fully leverage this potential.
In his address, Power and Participation Research Center (PPRC) Executive Chairman Dr Hossain Zillur Rahman stressed the importance of exploring new growth sectors beyond the ready-made garment (RMG) industry, citing pharmaceuticals, agriculture, IT, and leather as promising areas.
He also highlighted the need to treat business harassment as a significant issue, akin to corruption, which hampers the country’s progress.
However, business leaders in attendance voiced dissatisfaction with the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), criticizing the apex trade body for its ineffective response to ongoing business challenges, including the energy crisis.
