Bangladesh must explore new markets to boost SME exports: Industries adviser
Product diversification, stronger institutional support are key to expanding SME exports, he says
Industries Adviser Adilur Rahman Khan tpday (7 December) called for exploring new markets to increase the export of SME products, saying Bangladesh must build a strong domestic market while also identifying new destinations abroad.
"Regular assessments are needed to understand which countries have higher demand for specific products and where new opportunities for our country can be created," he said while speaking as the chief guest at the opening ceremony of an SME fair at the Bangladesh–China Friendship Exhibition Centre in Agargaon.
The adviser said new markets must be identified, and products should be developed according to their specific needs. "Diversifying product lines is essential for strengthening Bangladesh's competitiveness across different markets," he noted.
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Adilur Rahman said small and medium enterprises play an essential role in driving economies worldwide. "The growth of the SME sector can support industrialisation, job creation, poverty reduction, and balanced development. As a developing country, Bangladesh needs sustainable industrial expansion at both national and local levels to ensure urban facilities gradually reach rural areas," he said.
He noted that nearly 99% of industries in Bangladesh fall under the cottage, micro, small, and medium categories, while the number of large and heavy industries is also rising. "The SME sector remains one of the most labour-intensive and low-investment segments, allowing significant employment generation with relatively small capital input," he added.
Adilur Rahman said industries must be set up in designated areas rather than in scattered locations. "Entrepreneurs will benefit more if industries are established in planned zones," he said, adding that industrialisation must progress while ensuring protection of the local environment and ecosystem.
"Water bodies within industrial zones should be preserved and used in a visually appealing way. Industrial waste must not enter these water bodies, and factory owners should remain extremely cautious about this," he said.
He said SME entrepreneur groups, clusters, and various sub-sector entrepreneurs are now receiving collateral-free loans at low interest and on easy terms. "This support is helping entrepreneurs compete and create new markets," he said. "The programme needs to be strengthened further to include a larger number of entrepreneurs."
He added that the SME Foundation must be strengthened structurally and developed into a modern institution to make the SME sector more dynamic and accelerate its growth. "To achieve this, effective steps are needed to increase the foundation's budget, human resources, research capacity, and technological infrastructure," he said.
This year's fair features around 400 small and medium enterprises, of which nearly 60% are women-led. The highest participation comes from the ready-made garment sector, with 74 enterprises taking part.
The fair also includes 54 enterprises from the handicrafts and cottage industry sector, 40 from footwear and leather goods, 35 from jute products, and 28 from agriculture and food processing.
The fair, which began yesterday, will continue until 14 December.
