More SME research to diversify exports: commerce minister

12 Jan 2021 11:45 AM
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More research is necessary for export diversification leveraging small and medium enterprises, which will be the lifeline of Bangladesh's economy contributing about 26 per cent to the GDP, said Commerce Minister Tipu Munshi yesterday.

"The global financial dimension possesses changed a lot. To be able to sustain ourselves in the intercontinental market with an access of diversified exports, we must conduct more institutional exploration," he said.

Munshi's comments came throughout a courtesy call by newly elected Dhaka Chamber of Commerce & Industry (DCCI) President Rizwan Rahman at his secretariat office in Dhaka.

Moreover, to become more competitive found in the export market, the government will support all sectors that have the probable and the DCCI are certain to get the ministry's all-out support in the higher interest of the overall economy, he said.

He requested the DCCI president to forward the business community's suggestions and all that was necessary for government consideration. 

Rahman requested all export-oriented sectors come to be granted the same fiscal and non-fiscal conveniences enjoyed by the garment sector remember Bangladesh's status graduation to a growing country.

In the post-Brexit period, the government can undertake initiatives for signing free trade agreements with the UK, he added.

The DCCI president also requested reconsidering a clause in the firms act limiting capital to Tk 25 lakh and sales transaction value to Tk 1 crore when registering a one individual company.

He also put emphasis on formulating a thorough trade policy to improve export diversification.

He said businesses were even now fighting the pandemic challenges and require an expansion of both moratorium and repayment period for loans beneath the government stimulus package, according to a affirmation.

DCCI Senior Vice President NKA Mobin and Vice President Monowar Hossain were as well present.