Commerce Minister Khandaker Abdul Muktadir has said responsible business conduct is no longer optional but a key requirement for maintaining competitiveness in global trade, attracting investment and securing market access.
He made the remarks while addressing a national dialogue titled “Responsible Business Conduct for Resilient Supply Chain and Trade Competitiveness”in Dhaka on Tuesday.
The minister said Bangladesh is entering a new phase of economic development amid rapidly changing global trade dynamics. He noted that the country has achieved significant progress through export growth, industrialisation and resilience, with the ready-made garment sector playing a major role in employment generation, poverty reduction and women’s empowerment.
As Bangladesh prepares for graduation from the Least Developed Country (LDC) category, future competitiveness will depend not only on production costs but also on sustainability, transparency, labour standards and environmental responsibility, he said.
Muktadir said international buyers, investors and regulators are increasingly focusing on environmental, social and governance (ESG) standards and due diligence throughout supply chains. Businesses are now expected to ensure workplace safety, efficient resource use, good governance and sustainability reporting, he added.
He said stronger responsible business practices would enhance Bangladesh’s image as a reliable sourcing destination, increase access to high-value markets, attract quality investment and improve supply chain resilience.
The minister said the government is committed to sustainable and inclusive economic growth and is working to strengthen policy coordination and institutional frameworks related to responsible business conduct. He added that Bangladesh has already made progress in green industrial practices and environmental and social compliance initiatives.
He also highlighted plans to establish an institutional framework under the Ministry of Commerce to improve coordination among government agencies, the private sector and development partners.
The commerce minister stressed that promoting sustainable business practices requires joint efforts from the government, businesses, industry bodies, development partners and civil society.
Among others, Commerce Secretary (Routine Duty) Abdur Rahim Khan, UNDP Deputy Country Representative Sonali Dayaratne and United Nations Development Programme officials attended the event.