Bangladesh is stepping up efforts to forge new trade agreements with African and other high-potential markets as the country prepares for its transition from Least Developed Country (LDC) status, State Minister for Foreign Affairs Shama Obaed Islam has said.
Speaking during a meeting with leaders of the Dhaka Chamber of Commerce & Industry (DCCI) on Tuesday, the minister said the government remained committed to signing Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs) to expand bilateral trade and attract greater foreign investment.
She said closer collaboration between the government and the private sector would be essential to achieving stronger trade outcomes, particularly as Bangladesh adapts to the challenges and opportunities of the post-LDC era.
Islam highlighted Africa as a promising destination for Bangladeshi exports, citing growing demand for products including jute and jute goods, leather and leather products, pharmaceuticals, fruits and ceramics.
She urged Bangladeshi businesses to pursue commercial opportunities across the continent more actively.
The minister also stressed the need to strengthen private sector capacity to support export diversification and market expansion after Bangladesh’s graduation from LDC status, which is expected to reduce some of the preferential trade benefits currently available to the country.
During the meeting, DCCI President Taskeen Ahmed called for the Ministry of Foreign Affairs to take a more proactive role in securing FTAs and PTAs with countries offering significant trade potential, arguing that such agreements would help improve Bangladesh’s global competitiveness.
He said diversifying both export products and overseas markets would be critical as Bangladesh enters the post-LDC period, pointing to opportunities to expand trade and investment with countries in Africa, South America and Southeast Asia.
Ahmed also urged the government to strengthen its economic diplomacy efforts and consider simplifying direct payment mechanisms to facilitate bilateral trade and investment with African nations, particularly in contract farming, information technology and agriculture.
Senior DCCI officials, including Senior Vice-President Razeev H Chowdhury, Vice-President Md. Salem Sulaiman and Acting Secretary General Dr A.K.M. Asaduzzaman Patwary, attended the meeting alongside Dr Syed Muntasir Mamun, Director General of the International Trade, Investment and Technology Wing at the Ministry of Foreign Affairs.