It would be wise to ensure that the export basket continues to diversify
Thanks to our impressive economic growth over the last decade, Bangladesh is well on track to becoming a developing country, with greater global opportunities than ever.
As Prime Minister Sheikh Hasina has made clear, this promotion will open up newer avenues in trade and business, and these are chances that our business community must seize with both hands.
One of the major achievements of the current government has been to broaden Bangladesh’s export potential, with the prime minister ensuring that economic ties continue to improve with regional players.
MoUs signed with economic powerhouses such as India and China, in addition to other neighbouring countries like Nepal and Bhutan, have created the environment required to ensure that our export sector continues to flourish.
And while Bangladesh’s exports already contribute enormously toward the economy’s continued development, it would be wise to ensure that the export basket continues to diversify and seek newer markets in the international arena, which are conducive to Bangladeshi goods.
The stage is set, but the government’s role in the future will also be crucial, as our position in the ease of doing business rankings needs urgent attention -- this is achievable through reducing bureaucracy and corruption, which continue to act as barriers to progress.
In the long run, the government and private sector need to work together to ensure that Bangladesh’s potential as an economic powerhouse is taken advantage of.
Bangladesh still has a long way to go, but if we play our cards right, nothing can stop us.