Bangladesh’s Prime Minister Sheikh Hasina has called upon the entrepreneurs of the country to go for product and market diversifications, at a recent event.
“We want to diversify. We have to assess the areas with more production and what kind of market demand is there. We must think of diversifying our products and what difference it makes. What is the global demand? Just don’t look at one or two countries. We have to look at every side. We will do whatever we want to do for the sake of economic development,” stated Sheikh Hasina at the inauguration of ‘Destination Bangladesh’ organised by the Dhaka Chamber of Commerce and Industry at Bangabandhu International Conference Centre on Sunday.
Hasina said that the business community needs to come out from the traditional mindset of reaching only one or two destinations for their products. “Now markets are there in many countries. We’ve to look at those destinations, we have to find out which country wants what type of products and we have to go for producing those,” Hasina added.
Commerce Minister Tofail Ahmed, State Minister for Finance and Planning MA Mannan, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md. Shafiul Islam (Mohiuddin), and DCCI President Abul Kasem Khan amongst many others attended the event.
It may be mentioned here that a report of the World Bank titled ‘Bangladesh Development Update: Powering the Economy Efficiently’, released in Dhaka on October 2, also underlined that the world’s second-largest apparel exporter risks losing its footing in the global market with the competitive edge it has been holding for the past few years and needs immediate efforts towards product and market diversification.
