Prime Minister Sheikh Hasina has urged the business entrepreneurs to come up with innovative idea, knowledge and qualitative strategy to diversify their products according to the global demand.
"You have to explore markets for commodities in different parts of the world and produce those items according their needs. You must initiate new knowledge-based qualitative strategy to sustain in the international market," she said.
"Bangladesh needs to expand its trade and business across the global to survive in the global community keeping its head high," she said while inaugurating the month-long Dhaka International Trade Fair (DITF)-2016 at Bangabandhu International Conference Centre (BICC) here.
The prime minister added: "We have to diversify our exports, discover new markets for traditional and non-traditional goods. We have to be efficient and effective in managing our business internally and internationally."
Ministry of Commerce and Bangladesh Export Promotion Bureau (BEPB) have jointly been organizing this fair for the last 21 consecutive times.
Commerce Minister Tofail Ahmed, Chief Whip of the Opposition Party in parliament Tajul Islam Chowdhury, Commerce Secretary Hedayet Ullah Al Mamun, President of Federation of Bangladesh Chambers and Commerce and Industry (FBCCI) Abdul Matlub Ahmed also spoke on the occasion.
Cabinet members, senior government officials, diplomats, business leaders and exporters and participant from home and abroad were present.
The prime minister said the DITF is now recognised as a centre of international trade and commerce. It has given Bangladeshi entrepreneurs and business bodies an opportunity to connect themselves with the world business community, and also prove their capacity in the fields of productivity, trade and commerce, she said.
Sheikh Hasina said the country's businesses will have to be competitive and qualitative without any failure. We must strive to constantly produce the best goods and give best services to our clients, she emphasised.
Urging the producers to take special care about the standard of products, branding and productivity, the prime minister said it would be easier and beneficial "for us if we could export goods under our own brand". It will surely help further increase the volume of exports, and also create new markets abroad, she added.
Stressing the need for promotion of the country's traditional agro-based economy, Sheikh Hasina said agro-products have huge demand abroad. "So, we should find out new markets for traditional and non-traditional agricultural commodities."
The prime minister also attached importance to research and study for quality management and constant improvement of the products, saying, "We have to develop further our management skills to remain competitive in the realm of growing competition, and challenge any future global debacles and crises.
Sheikh Hasina asserted that her government hasn't come for doing business as it's the affairs of businesspeople. The government would do its best to create and ensure congenial environment for business, she said.
In view of this, the prime minister said her government is constantly pursuing an export-friendly policy. The government would continue to do it in the days ahead, she assured.
The premier said local workers should be skilled and knowledge-oriented in order to strengthen the capacity to sustain and survive overcoming various barriers.
Pointing out the ancient business history of Bangladesh, the prime minister said, "Our 'Maslin', a world famous fabric, was admired at different Kings' palaces across the globe. Our jute, leather, and agriculture products were used as raw materials at mills and factories in Europe," she said.
Highlighting the Bangladesh's persistent economic tolerance amidst global economic recession over the last few years, the premier said she hopes 7% economic growth in current fiscal. Bangladesh is doing better not only than those of developing countries, but also in comparison to some developed countries, she said.
Sheikh Hasina said over the last six years per capita income of the people of Bangladesh rose to US$ 1,314 from US$ 543, poverty rate reduced to 22.4% from 41.5% and extreme poverty rate has come down to 7.9%, she said, adding economic success transformed Bangladesh from a lower-income country into a lower-middle income country.
The prime minister also highlighted the projection of many international bodies like Price Waterhouse Coopers, SAARC research, City Investment Research, IMF, Wall Street Journal, JP Morgan and others on the economy of Bangladesh, saying the country would be the first among "Next Eleven" and would overtake Western economies in 2050 provided the country can maintain the present level of development.
Sheikh Hasina said she strongly believes that Bangladesh must emerge as a middle-income country on the world economic map by 2021. She hoped that businesspeople, industrialists, exporters, importers, researchers and technologists from home and abroad would come forward to help establish a dignified position for Bangladesh.
Later, the prime minister went round different stalls of the fair.