Industries Adviser Adilur Rahman Khan has urged Bangladesh’s small and medium enterprises (SMEs) to aggressively explore new global markets, saying that export diversification is essential for sustaining economic growth.
Speaking at the opening ceremony of the eight-day SME Fair at the Bangabandhu International Conference Center in Dhaka’s Agargaon on Sunday, he said Bangladesh must closely track shifting global demand patterns to identify where new export opportunities lie.
“We must strengthen our domestic market, but at the same time, we need to explore new international markets,” he said. “Regularly analysing which countries have rising demand for specific products will help us position our goods more effectively.”
Organised by the SME Foundation, this year’s fair—held under the theme “SME Shakti, Desher Agragati”—features only locally manufactured products and will continue through 14 December.
‘Market research should guide production’
Adilur emphasised that production strategies must be driven by data.
“We should identify potential markets and develop suitable products based on market research. Diversifying our product range will help us compete globally and secure our place in international value chains,” he added.
He noted that SMEs play a vital role worldwide as engines of industrialisation, job creation and poverty reduction. For Bangladesh, promoting sustainable industries at both national and local levels is essential, he said, to ensure that “urban facilities reach rural communities.”
Nearly 99% of all industries in Bangladesh are cottage, micro, small or medium-sized. “SMEs are the most labour-intensive and low-investment sector. With modest capital, they can generate significant employment,” he said.
Call for planned industrial zones
The Adviser encouraged entrepreneurs to set up factories within designated industrial zones rather than scattered sites.
“This will offer greater benefits and improve operational efficiency,” he said.
He also stressed the need for environmentally conscious industrial development. “We must preserve water bodies within industrial areas in an aesthetic and sustainable way, and prevent industrial waste from contaminating them.”
More support for entrepreneurs
Adilur highlighted that SME entrepreneurs are already receiving collateral-free, low-interest loans through SME clusters and sub-sectors.
“These initiatives are helping businesses compete, innovate and enter new markets. The Foundation needs to expand its efforts to bring more entrepreneurs under this support system,” he added.
He further recommended modernising the SME Foundation to accelerate sectoral growth. “To make it a stronger and more contemporary institution, we must expand its budget, workforce, research capacity and technological infrastructure.”
Bangladesh to Become Major Global Market: BIDA Chief
Speaking as special guest, BIDA Executive Chairman Chowdhury Ashiq Mahmud bin Harun said Bangladesh is rapidly emerging as a major destination for investment.
“We are a young nation. By 2030, Bangladesh will become the world’s eighth-largest consumer market. Our domestic market will even surpass that of the United Kingdom,” he said.