The Bangladesh government has taken an initiative to diversify the country’s export basket by identifying five promising sectors and preparing specific action plans to boost their exports.
The move comes as Bangladesh’s export earnings remain heavily dependent on a limited number of products, particularly ready-made garments. The apparel sector currently accounts for around 80–85% of the country’s total export earnings, while another five to six products contribute only about 10–15%.
At a recent second consultation meeting with leading private-sector entrepreneurs, chaired by Prime Minister Tarique Rahman, the government identified five potential sectors and instructed the authorities to formulate concrete and quickly implementable action plans to increase exports.
The meeting also stressed the need to work separately on promising sectors and strengthen coordination between the public and private sectors to improve the investment climate and accelerate economic growth.
According to the meeting proceedings, Invest Bangladesh Chairman Chowdhury Ashik Mahmud Bin Harun presented an update on the implementation of decisions taken at the first consultation meeting. He emphasised stronger public-private coordination, increased investment, a business-friendly environment and necessary policy reforms.
Officials said a high-level committee, headed by the director general of the Export Promotion Bureau (EPB), has already been formed to prepare the export diversification action plan. The committee has held its first meeting and is expected to formulate a detailed plan soon in line with the prime minister’s directives.
The government has initially prioritised sectors such as information technology, light engineering, agro-processing and leather goods, which are considered to have strong export potential. Expanding production and exports in these sectors could create new employment opportunities and increase foreign exchange earnings.
The initiative will also focus on identifying production and export potential at the district level. A special study has been proposed to assess local products, existing production capacity and future export opportunities in different parts of the country.
Based on the findings, the government plans to develop industries and products through regional clusters, which could help boost local production and facilitate the entry of new Bangladeshi products into international markets.
The government has also placed emphasis on effectively implementing the “One Village, One Product” concept to strengthen the rural economy. Traditional and promising products from remote areas will be identified, upgraded and developed to meet international market requirements, potentially enabling small and cottage industries to access export markets directly.
Officials and analysts believe successful implementation of the initiative could reduce Bangladesh’s dependence on a handful of export products while creating jobs and raising incomes in rural areas.
Analysts say Bangladesh’s exports have become increasingly concentrated in a few products due to policy and structural challenges. They believe planned investment, policy support and improved production capacity in new sectors could help diversify exports and contribute to building a more sustainable, production-oriented and business-friendly economy.
