The Bangladesh Foreign Trade Institute (BFTI) has entered into a new partnership with the SME Foundation to strengthen support for the country’s small, medium, and cottage entrepreneurs, following the signing of a Memorandum of Understanding (MoU) on Monday.
The agreement was signed at the SME Foundation office by its Managing Director, Anwar Hossain Chowdhury, and BFTI’s Chief Executive Officer, Dr Saif Uddin Ahammad. Senior officials, including SME Foundation Chairperson Md Mushfiqur Rahman, General Manager Md Abdus Salam Sardar, Deputy General Managers Mousumi Roy and Muhammad Morshed Alam, along with BFTI Joint Director Ahsanul Islam, were also present.
Under the MoU, both organisations will collaborate on key areas such as trade facilitation for CMSME entrepreneurs, export diversification, joint research related to Bangladesh’s impending LDC graduation, training and capacity-building programmes, policy dialogue, and information exchange.
SME Foundation Chairperson Md Mushfiqur Rahman said the agreement would support the implementation of initiatives aimed at expanding and facilitating exports of CMSME products. He noted that the recent Economic Survey’s preliminary report indicates more than 11.8 million CMSME entrepreneurs operate nationwide, with 70% based outside Dhaka.
He further observed that limited manpower and the absence of field offices beyond the capital mean the foundation relies on public and private organisations, local administrations, SME chambers, and NGOs to deliver entrepreneurship development programmes across the country.
The SME Foundation has already disbursed loans exceeding Taka 1,000 crore to approximately 11,000 entrepreneurs under its credit wholesaling scheme and the government’s stimulus package, channelled through partner banks and financial institutions. Women entrepreneurs account for around 25% of beneficiaries. The SME sector currently contributes nearly 30% to Bangladesh’s GDP.
The partnership is expected to enhance institutional support for SMEs and strengthen their role in driving Bangladesh’s economic growth.
