Prime Minister Sheikh Hasina yesterday stressed diversification of exportable products, urging businesspeople and officials concerned to expand production of export items and explore new global markets to strengthen the country's economy further through enhanced foreign earnings. "Product diversification is indispensable to boost our export earnings…," she said while inaugurating Bangabandhu Bangladesh-China Friendship Exhibition Center at Purbachal as the chief guest. The exhibition centre is expected to host fairs on different product throughout the year and act as a business hub in the country. Export Promotion Bureau (EPB) took up the project in Purbachal New City Project Area with joint financing by the Bangladesh government and China. China State Construction Engineering Corporation Limited (CSCEC) built the centre on 26 acres of land. Joining virtually from her official residence Gono Bhaban, the premier also underscored the necessity of attaining efficiency in production to survive in the competitive global economy. "Whenever you (businesspeople and entrepreneurs) produce a product, you have to maintain high quality to meet the needs of different countries…Then you can survive in the market," she said.
Sheikh Hasina opined that all the industries of the country should start taking preparations from now on to address future challenges, saying, "The government will extend all cooperation, but your (businesspeople) own initiatives have to be there". She said one area for product diversification could be through digital devices as these were being produced here. "I think digital devices would be the major export items in the coming days," she added. Referring to her initiative of setting up 100 economic zones across the country, she said the government has taken steps to create opportunities for local or joint investment there. She added that readymade garment sector was being given the highest importance as a huge number of female workers were employed in the sector. But at the same time, the government was prioritising other sectors, she said. The premier also urged for new markets to be explored for textile, leather and leather industries, ceramics, frozen, fresh and processed fish; vegetables, fruits, light engineering, furniture, pharmaceuticals and small and cottage industries. The prime minister said Father of the Nation Bangabandhu Sheikh Mujibur Rahman had attached importance on the private sector.
She mentioned that the government established Bangladesh Economic Zones Authority (BEZA) for industrialisation across the country and formed Bangladesh Investment Development Authority (BIDA) to bring ease to doing business here by offering one-stop service. She added that during the Covid-19 pandemic in the last one and a half years, the government has tried to keep the wheel of the economy running and as a part of the strategy, a few fairs was organised on a limited scale while special cash incentives were provided. "The matter of hope is that the export sector has rebounded very quickly due to the government's timely incentive packages and policy support," she said. In fiscal 2020-21, export revenue increased by 14 per cent year-on-year to $45.37 billion, said the premier. Sheikh Hasina said erecting and removing pavilions for the temporary trade fair venue was a money and time-consuming affair. So, the exhibition centre was established to provide a better option for businesspeople to showcase their products, she said. Meanwhile, the centre will be a source of income for the commerce ministry, she added. She said through this exhibition centre, it would be possible to organise export and sourcing fairs so that Bangladeshi products can enter more international markets.
She asked the commerce ministry, EPB, exporters and business leaders to make the best use of the centre. She thanked the Chinese government for financial and technical assistance in the construction. She also hoped for China to play a role in fulfilling the Chinese president's pledge of strategic assistance by enriching Bangladesh's exports through the import of more goods and services from here. With Commerce Minister Tipu Munshi in the chair, EPB Vice Chairman AHM Ahsan delivered the welcome address. Chinese Ambassador to Bangladesh Li Jiming and Commerce Secretary Tapan Kanti Ghosh also spoke at the ceremony.