Strengthening of SMEs can be a major tool for Bangladesh to address intensified competition in trade and businesses after 2026 as the country is set to shed its LDC identity by this timeframe, some business leaders have advised.
“SMEs are the backbone of any economy for its growth, development and employment generation. With the graduation to middle income country in 2026, Bangladesh will be facing tight competition from its competitors,” said AK Azad, vice-president of the International Chamber of Commerce (ICC) – Bangladesh (ICCB), while delivering opening remarks at a workshop.
The Asian Development Bank’s (ADB), Trade & Supply Chain Finance Program (TSCFP) and International Trade Centre (ITC) collaborated with the ICCB in holding the workshop called “Find and pursue the right standards for your business: A Hands-on workshop with the SME Toolkit.”
“Strengthening the SMEs will make immense contributions in the entire supply chain process,” Azad said, also emphasising compliance and ensuring sustainability for export growth.
The workshop was aimed at engaging textile, apparel, and footwear manufacturers in the pilot testing of the ITC/ADB Sustainability Standards Navigation Toolkit.
The Toolkit has been developed to help SMEs enhance their awareness of sustainability standards, assess their readiness for certification, and receive actionable recommendations for sustainable practices and compliance for export.
Azad thanked ADB TSCFP and ITC for taking the initiative in developing the toolkit and ensure that ICC Bangladesh will continue to organize workshops for strengthening the capacity of the SMEs to increase their exports.
About 40 participants from SMEs including apparels, textiles & leather industries and other corporate houses attended the workshop.
ICCB Secretary General Ataur Rahman moderated the session. International Trade Centre (ITC) Associate Programme Officer DANG Tuan Ducand and Software Engineer Niklas Anders ANDERSSON have made their presentation in different topics during the Workshop.