Bangladesh’s continued negative export growth over the past several months poses a significant challenge to the national economy, Commerce, Textiles & Jute, and Industries Minister Khandaker Abdul Muktadir has said.
He emphasized that the country must move away from excessive dependence on a single export product and urgently diversify its export basket to ensure sustainable economic stability.
The minister made these remarks on Friday (February 20) upon arriving in Sylhet for a two-day official visit — his first trip to the region since assuming office.
First Sylhet Visit After Taking Office
Minister Muktadir landed at Sylhet Osmani International Airport on Friday morning, where local party leaders and officials welcomed him with floral greetings.
Speaking to journalists about the country’s economic outlook, the minister acknowledged that Bangladesh’s export sector is currently facing structural vulnerabilities.
“Nearly 85 percent of our total exports rely on a single product category. This level of dependence creates a risky economic reality,” he said.
Although he did not explicitly mention the product, Bangladesh’s export earnings are heavily dominated by the ready-made garments (RMG) sector.
Diversification Is No Longer Optional
According to Muktadir, expanding the export basket is no longer a choice — it is a necessity.
“To achieve sustainable export growth and broaden our global trade footprint, there is no alternative to diversification,” he said. “This is one of the primary goals and challenges for the government in the coming years.”
He stressed the importance of introducing new export items, exploring emerging markets, and enhancing competitiveness in non-traditional sectors.
Economic analysts have long argued that overreliance on a single sector leaves Bangladesh vulnerable to global demand shocks, price volatility, and geopolitical uncertainties.
Focus on Investment and Job Creation in Sylhet
During his visit, the minister also addressed local development and employment opportunities in Sylhet.
“To create employment in Sylhet, we need investment. Without investment, job creation is not possible,” he stated.
He highlighted the need for a supportive investment climate, including improved infrastructure, business-friendly policies, and regulatory efficiency.
The minister assured that the government has already initiated work on creating such an enabling environment to attract both domestic and foreign investors.
Meetings With Business Leaders and Officials
Sources indicate that during his two-day visit, Minister Muktadir is scheduled to hold several key meetings with:
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Local administrative officials
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Business leaders
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Representatives of trade bodies
The discussions will focus on economic expansion strategies, industrial growth, and regional investment opportunities.
Economic Context
Bangladesh’s export growth has experienced fluctuations amid global economic slowdowns, supply chain disruptions, and declining demand in key markets.
Experts suggest that diversification into sectors such as:
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Pharmaceuticals
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ICT services
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Agro-processing
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Light engineering
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Leather goods
could significantly strengthen the country’s export resilience.
Minister Muktadir’s remarks indicate that export diversification will likely become a central pillar of the government’s economic strategy moving forward.
