Govt focuses on economic diplomacy to boost investors' confidence: Shama Obaed

State Minister for Foreign Affairs Shama Obaed Islam today (30 March) stated that the government has undertaken a series of coordinated initiatives to restore the confidence of international investors and expand Bangladesh's export markets through strengthened economic diplomacy and investment-friendly reforms.

"The government remains committed to accelerating economic growth through sustainable and diversified development, alongside enhanced engagement with global partners," she said, in absence of the Foreign Minister, while replying to a question from ruling party lawmaker AE Sultan Mahmud Babu in the Parliament.

The state minister said the Ministry of Foreign Affairs Bangladesh is working in line with the government's electoral commitments to expand export markets, attract foreign investment and strengthen diplomatic relations while safeguarding national interests.

She noted that, in addition to traditional markets in Europe and North America, Bangladesh is actively exploring new opportunities in the Middle East, Africa, South America, Southeast Asia and Eastern Europe.

Shama Obaed said discussions are underway with several countries to sign bilateral trade agreements, Preferential Trade Agreements (PTAs) and Free Trade Agreements (FTAs), which are expected to boost exports and strengthen bilateral ties. She emphasised that such agreements are being pursued under the "Bangladesh First" principle.

Highlighting export diversification, she said the government is working to reduce dependence on the ready-made garments sector by promoting a wider range of products in global markets. Diplomatic missions abroad are organising trade exhibitions and participating in international fairs in coordination with the Ministry of Commerce and the Export Promotion Bureau.

She also mentioned initiatives to promote local products through international online marketplaces and said a national single-window system has been introduced to streamline import-export procedures.

To improve the investment climate, the government has launched the BanglaBIZ portal, offering one-stop digital services for investors, alongside tax incentives, enhanced facilities for capital and profit repatriation, and identification of priority sectors.

Six key investment agencies, including Bangladesh Investment Development Authority, Bangladesh Economic Zones Authority and Bangladesh Export Processing Zones Authority, have been brought under a coordinated platform, while 32 reform initiatives are being implemented to address investor concerns.

The Bangladesh Investment Development Authority (Bida) website has also been redesigned with sector-specific information, incentives, focal contacts and research-based reports to improve investor communication, she added.

Bangladeshi missions abroad are working to simplify visa procedures, facilitate business delegations, improve consular services and enhance coordination on port and customs-related matters.

The state minister expressed hope that these measures would help rebuild investor confidence and attract greater foreign direct investment.

She said the government plans to organise country-specific investment roadshows, sourcing meetings, B2B matchmaking programmes and Bangladesh Investment Seminars in coordination with relevant agencies.

Shama Obaed also highlighted increased diaspora engagement programmes to encourage expatriate Bangladeshis to contribute to economic development through investment, remittances and technology transfer.

She added that export expansion and economic diplomacy are ongoing efforts, with the government continuing to work closely with relevant stakeholders to strengthen Bangladesh's position as a reliable investment destination.