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Dhaka Tribune

Muhith for product diversification to boost export market

Update : 18 Mar 2017, 11:29 PM
Finance Minister AMA Muhith on Saturday called for product diversification to expand export market in the world with a view to making Bangladesh a middle-income country, reports BSS. “Ready-made garment (RMG) is our main export product. The export volume has increased gradually, which is good for us, but we have to diversify products for boosting export earnings,” he said. The finance minister was addressing the dialogue titled “Improving Investment Climate: Key Policy Reforms and Institutional Priorities” as the chief guest at Sonargaon Hotel in the city. Policy Research Institute (PRI) and Bangladesh Investment and Development Authority (BIDA) jointly organised the high-level policy dialogue. To make the country a middle-income one, Muhith said, Bangladesh would have to reduce dependence on RMG as exportable item. Bangladesh can increase export earnings from different potential items including leather and Information and Communications Technology (ICT), he added. Among others, BIDA Executive Chairman Kazi M Aminul Islam and former president of Dhaka Chamber of Commerce and Industry (DCCI) Asif Ibrahim took part in the discussion. PRI Executive Director Dr Ahsan H Mansur presented his keynote paper. He said Bangladesh has the momentum and potential to become an upper middle-income country and eliminate absolute poverty by 2030-31 financial. “But realisation of these targets will require sustaining economic growth at more than 8%,” he added. He said the role of BIDA in improving the investment climate as the empowered coordinating agency will be critical in this regard. “BIDA has appropriately established, among others, two major objectives: establishing an effective One Stop Shop (OSS) for all investors and improving Bangladesh’s ranking to double digit levels by 2020,” he added. “BIDA, as the new institution with a capable leader, will only be able to deliver in line with its targets and our expectations if it gets strong support from the highest level of the government in a sustained manner,” observed the PRI executive director.
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