
That Bangladesh is on the track to becoming a developing nation soon is a well-known fact! However, what is the matter of conjecture yet is the business implications that the country would suffer from, especially the export-oriented apparel sector, once Bangladesh makes it to the league of developing nations.
Keeping this issue in perspective, Bangladesh President Abdul Hamid called upon the industries to enhance their capacity and quality while also look at market and product diversification to remain competitive in the global arena.
“We are marching ahead to become a middle-income country by 2021. And there will be no scope for Bangladesh to enjoy the benefits of trade preferences as LDC when Bangladesh will become MIC (Middle Income Country). Under such circumstances, the exporters and producers will have to attain capacity and capability to sustain amid the stiff competition.” – Abdul Hamid, President, Bangladesh
It may be mentioned here that the Commerce Ministry and Bangladesh Export Processing Zone is jointly organising the international trade fair. “A lot of challenges are there to contest with many countries in the current competitive world. Apart from attaining skills, we have to concentrate on expanding trade, exploring more markets and diversifying products to have a stronger presence of Bangladesh products on the international market,” the President reportedly underlined.