Commerce Minister Khandaker Abdul Muktadir has announced that discussions are underway regarding Free Trade Agreements (FTAs) between Bangladesh and 12 countries. Negotiations with several nations, including Indonesia and Malaysia, are progressing.
He also noted that formal FTA discussions with the European Union (EU) may begin within the next month.
The minister shared this information on Wednesday (August 12) during an event organized by the Bangladesh Institute of International and Strategic Studies (BIISS) in the capital.
Muktadir stated: "Discussions are ongoing to sign free trade agreements with 12 countries, including Indonesia and Malaysia. In addition, formal discussions on an FTA with the European Union will begin soon."
He added that the government is taking various initiatives to boost export capacity. At the same time, efforts are being made to improve the trade and investment climate to attract foreign direct investment—such as ensuring energy availability and guaranteeing that investors can safely repatriate their profits and capital to their home countries.
The minister emphasized that the government is prioritizing the creation of a favorable investment climate.
Furthermore, to address the commercial challenges Bangladesh will face following its graduation from the Least Developed Country (LDC) category, strong focus is being placed on securing duty-free market access for products in international markets.
Speakers at the event highlighted Bangladesh's lag in the global halal product market.
They noted that while the global halal market is valued at approximately $3 trillion, Bangladesh’s share remains below $1 billion.
Despite immense potential, Bangladesh has not been able to achieve its desired position in this sector due to a lack of appropriate policies, research, technology, skilled manpower, and financing.
The speakers remarked that increasing Bangladesh's participation in the international halal market requires coordinated efforts at every stage—from production and quality control to certification, export, and marketing.
They also pointed out complexities in the country's current halal certification system. Having two separate institutions—the Bangladesh Standards and Testing Institution (BSTI) and the Islamic Foundation—issuing halal certificates creates confusion and operational hurdles for entrepreneurs.
To make the halal certification process simpler, more transparent, and aligned with international standards, the speakers proposed forming an independent halal certification agency.
They expressed confidence that establishing such an institution would help expand the reach of Bangladeshi halal products in the international market and boost export revenue.
