Bangladesh eyes new markets beyond garments as priority export sectors rise from eight to 12

Bangladesh is stepping up efforts to reduce dependence on ready-made garments (RMG), diversify its export basket and make full use of the United Kingdom's preferential trade facilities. The focus is on training exporters, increasing contact with international buyers and ensuring product quality and regulatory compliance in line with market demand.

These issues featured prominently at the 'Bangladesh Trade and Global Sourcing Dialogue' organised by the Export Promotion Bureau (EPB) at the Sheraton hotel in Banani, Dhaka. Representatives of diplomatic missions, bilateral trade chambers, buyer forums and foreign trade promotion agencies took part.

Martin Dawson, development counsellor and deputy development director at the British High Commission in Dhaka, outlined Bangladesh's trade opportunities under the UK's Developing Countries Trading Scheme (DCTS).

He said Bangladesh's key export sectors, including ready-made garments, had yet to make full use of the trade benefits available under the scheme.

Participants also stressed connecting Bangladeshi producers with international buyers and strengthening links with local buying houses and sourcing agencies, through which exporters can learn about foreign buyers' needs and win new orders.

The EPB and the British High Commission are jointly running programmes to raise exporter awareness of the DCTS, including training on eligibility, rules and compliance procedures for benefits under the scheme.

Further workshops are planned in Chattogram and for the garment sector to address non-tariff barriers and ensure effective use of preferential market access.

As part of diversifying exports and strengthening international competitiveness, the EPB this year increased the number of priority export sectors from eight to 12. The possibility of bringing new promising industries and service sectors into the export framework is also being reviewed.

EPB vice chairman and chief executive Mohammad Hasan Arif said service sectors such as healthcare could be considered for inclusion in the next priority-sector framework, depending on industry demand.

Participants said branding, product quality improvement and direct contact with foreign buyers were essential to turn market access into actual export orders, and stressed making trade fairs, business matchmaking and promotional initiatives more effective.

The dialogue also discussed expanding exports of non-traditional and emerging products. With international demand rising for environmentally friendly and biodegradable packaging, new opportunities may open for Bangladesh's jute and jute goods in European and Southeast Asian markets.

The president of the Indonesia-Bangladesh Chamber of Commerce and Industry pointed to prospects for exporting jute yarn, jute sacks, tobacco, ready-made garments and hydrogen peroxide to Indonesia. According to figures presented at the dialogue, Bangladesh's hydrogen peroxide exports to Indonesia were worth 2 million US dollars in 2024.

Opportunities to expand Bangladeshi exports in high-value sectors such as semiconductors, artificial intelligence (AI) and cybersecurity were also discussed. A representative of the Saudi Arabia-Bangladesh Chamber of Commerce and Industry urged greater attention to those sectors alongside healthcare, aviation and hospitality.

Recalling his experience of a 2015 trade fair in Tokyo, Mohammad Hasan Arif said it was important to give foreign buyers the chance to speak directly with business leaders and learn about the capabilities of the companies involved.

He also outlined plans to use short promotional films, social media content and live trade-fair video to present Bangladesh's production capacity to executives of foreign sourcing firms.