Export can be raised to USD 150 billion by focusing on key sectors: Muktadir
Commerce Minister Khandakar Abdul Muktadir today, Tuesday said Bangladesh has the potential to raise its export earnings from the current USD 50-55 billion to USD 150 billion if the country focuses on five to seven priority sectors backed by targeted planning, policy support, research, and skilled human resource development.
"The government is working to transform infrastructure in the leather and light engineering sectors into international-standard skill development hubs, which would be managed in collaboration with globally reputed institutions to ensure compliance with international benchmarks and market requirements," he said.
The minister made the remarks while speaking as chief guest at a consultation workshop held at the CIRDAP auditorium in the city, said a press release.
In the workshop, a Development Project Proforma (DPP) was presented for a proposed initiative based on a study titled "Assessment of Competitiveness of Bangladesh's Potential Private Sectors."
The minister underscored that the country's export expansion ambitions are achievable if reforms and sector-specific interventions are implemented in a coordinated and timely manner.
Highlighting Bangladesh's upcoming graduation from the Least Developed Country (LDC) category, the minister noted that maintaining global competitiveness after graduation remains a key challenge.
He stressed the need for enhanced industrial skills, stronger innovation capacity, and faster adoption of modern technologies.
He also drew attention to persistent delays in development project implementation, calling for greater efficiency, timely execution, and adaptability to technological change.
On the jute sector, the commerce minister emphasized the importance of shifting from raw jute exports to value-added jute products and diversified jute-based textiles, which offer significantly higher export returns.
He also noted that the government plans to advance joint research and innovation initiatives with China to strengthen technological capabilities and expand international cooperation in this sector.
Commerce Secretary Ataur Rahman Khan, who chaired the workshop, said the ministry is preparing an integrated project worth around Tk 30 billion (3,000 crore) aimed at boosting export capacity and addressing post-LDC challenges.
He said the second phase of the initiative will incorporate practical experiences and demands from the private sector to ensure greater effectiveness.
The minister added that the project will be aligned with national budget priorities, with a focus on export recovery and reconstruction, improving the ease of doing business through digitalization, and simplifying policy support and administrative procedures.
The Export Promotion Bureau (EPB) is being considered as the implementing agency for the initiative, which is expected to strengthen coordination between the government and the business community, he added.
The workshop featured a keynote presentation by MA Razzaque, Chairman of Research and Policy Integration for Development (RAPID).