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Prime Minister Sheikh Hasina has signalled a shift in the government's diplomatic strategy, with the emphasis turning to economic aspects over politics during her latest term in office.
"Our focus in diplomacy will now be economic rather than political. Our embassies and consulates are actively engaged in expanding our trade and commerce. That is our primary goal," the premier said while inaugurating the Dhaka International Trade Fair on Sunday.
Hasina stressed the importance of diversifying Bangladesh's export basket beyond its current reliance on a limited range of products, reports bdnews24.com.
She highlighted the need to identify and cater to international market demands, emphasising that the success of exports often depends on the level of support they receive.
"Therefore, we should also create opportunities for other products, enabling them to thrive in the business arena."
The Bangladesh leader also pinpointed jute products as a potentially significant source of trade revenue, given their eco-friendliness and global market presence.
"We are exploring multiple uses of jute, and ongoing research is helping to enhance its applications. We’ve been innovating in various fields, from paddy to spices, boosting production.
"Items that were previously seasonal are now available year-round. Jute, with its versatile applications, holds great potential for export."
Another key export item is leather, according to Hasina. "We should focus on leather preservation, its multifaceted uses, and the export of leather goods. Products that combine jute and leather have a substantial market globally.
"We need to give these sectors the same level of attention and opportunities as we have provided to the garment industry."
After a 20-day delay due to the Jan 7 general election, the 28th Dhaka International Trade Fair is underway at the Bangabandhu Bangladesh-China Friendship Exhibition Centre in Sector 4 of Purbachal New Town.
Organisers have increased the number of stalls and the entry fees for this year's fair.
The commerce ministry and the Export Promotion Bureau are jointly organising the country's largest local and foreign products exhibition.
The EPB said several countries, including India, Pakistan, Thailand, Turkey, Malaysia, Indonesia, Hong Kong, Singapore, and Nepal, will be part of this year's trade fair.
The emphasis is on exhibiting local products and identifying significant export opportunities in diverse markets.