Export diversification, investment flow key to stronger US-Bangladesh economic ties: Commerce Minister
Commerce Minister Khandakar Abdul Muktadir stressed the need for export diversification and investment to strengthen US-Bangladesh economic ties. Bangladesh has identified priority sectors for export expansion, including pharmaceuticals, ICT, and leather goods.
Commerce Minister Khandakar Abdul Muktadir emphasized the need to accelerate export diversification and boost investment flows to strengthen US-Bangladesh economic ties. The government's priority sectors for export expansion include pharmaceuticals, leather and leather goods, agricultural products, light engineering, and ICT. Bangladesh's export basket remains skewed, with over-reliance on the readymade garments sector posing a structural risk. The minister urged concerted efforts to broaden the country's export base and secure preferential market access ahead of Bangladesh's graduation from LDC status in November 2029. US investment in Bangladesh remains below its potential, with fluctuations in FDI inflows indicating a need to strengthen investor confidence. The US can be a vital partner for Bangladesh in AI, digital transformation, and ICT.
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