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A move is underway to prepare strategies for branding Bangladesh abroad, aiming to present correctly the country's image including its overall economic strength as a nation.
To this effect, a Terms of Reference has already been prepared in order to appoint a consultant or firm for shaping the strategies, said officials.
The consultant or firm will prepare the strategies and also include necessary work plans to ensure implementation of the strategies, according to an official document.
A twelve-member working group was formed at the third inter-ministerial sub-committee meeting on 'Branding Bangladesh Abroad' on Preparation, Planning, Implementation and Monitoring of Possible Challenges of Bangladesh in the context of graduation from Least Developed Countries (LDC) status on April 17.
The working group will review details of the draft and report to the Bangladesh Investment Development Authority (BIDA), if needed.
Contacted, BIDA Executive Chairman Md Sirazul Islam said it was a reality that Bangladesh had made economic progress over the last one decade, but people of many countries were yet to know the Bangladesh's success stories.
Even a good number of non-resident Bangladeshis (NRBs) do not know the country's success stories including its latest economic situation.
Currently, Bangladesh is a trade and business friendly country where the government offers a lot of opportunities to foreign investors, he said, adding that the investors would be able to make good earnings against their investment.
Mentioning that Bangladesh has been maintaining an optimistic GDP growth rate for the last couple of years, BIDA executive chairman said Bangladesh's tourism sector had a huge potential.
Bangladesh's achievements and success will be showcased to other nations across the globe so that the country's image helps it overcome any possible external shocks after its LDC graduation, he said.
Bangladesh is going to graduate from its LDC status in 2026. Many developed countries will not provide duty-free facilities to Bangladesh after graduation.
Currently, there are seven subcommittees on LDC graduation formed earlier. Some 17 research proposals are divided into seven clusters.
Of the clusters, the study on branding strategies for Bangladesh under Branding Bangladesh Abroad is one cluster and BIDA is the lead authority of the cluster.
Under the move, the country's economic viability, strength, success under the Covid-19 restriction period, its improved financial abilities to perform in the international markets, success stories of the brave people of Bangladesh, pharmaceuticals industry, tourism sector, and self-sufficiency in food production, and its all other success stories will be branded across the world, he added.
In 2021, the Prime Minister's Office (PMO) formed a high-powered committee to find out the possible challenges of the country after graduating from the LDC in 2026 and overcome those challenges.
The first and second meetings of the sub-committee were held on October 18, 2021 and January 23, 2022, respectively.
At the second meeting held at the foreign ministry, foreign minister, prime minister's private industry and investment adviser, and representatives from various state agencies and trade bodies, including DCCI, BGMEA, and FBCCI, were present.