– Ashikur Rahman Tuhin, Managing Director, TAD Group and Former Director, BGMEA
At this moment, Bangladesh has the potential to be the biggest beneficiary of the ongoing geo-trade war, geopolitics, and geo-economics conflicts worldwide. The last time this U.S. government came to power, they engaged in a trade war with China, leading to an unstable global economy. The U.S. is one of the worldโs largest markets, and when a new government takes office, it tends to shift some orders toward the Southeast Asian region, including Bangladesh, India, Vietnam, and Pakistan.
Bangladesh has already established itself as a stable market with year-round production. This allows it to take on additional orders alongside its existing production. However, this situation could create some concerns for Europe because, as Bangladesh captures a larger share of U.S. orders, European suppliers may lose market space. While this shift is expected to boost Bangladeshโs growth rate, sustaining this growth remains a significant challenge. Retaining customers is crucialโonly by maintaining strong relationships can Bangladesh continue to receive orders in the future.โ
The biggest obstacles right now are gas, electricity, and uninterrupted energy supply. Additionally, the political crisis following the July uprising has hurt Bangladesh’s global image. Immediate efforts are needed to strengthen law and order. The opportunities emerging from America’s shifting trade policies present a new era of possibilities for Bangladesh. This has become even more apparent due to the visibility of Bangladeshโs interim government, and it is essential to sustain this momentum. Maintaining a reasonable and stable bank interest rate is necessary for economic stability. For sustainable industrial growth, Bangladesh must implement long-term investment plans. At the same time, to sustain this growth, the backward linkage industries must be properly developed. Small and medium-sized industries need policy support because, without adequate gas and energy supply, production will struggle to move forward.
The major industries in Bangladesh did not grow overnightโthey started small and expanded over time. If Bangladesh aims to achieve its ambitious export goals of $60 billion or even $100 billion, it must address these fundamental issues. Raising awareness through industry programs is essential to prevent unhealthy and unsustainable growth. “Buyers have confidence in Bangladesh due to ethical and eco-friendly production practices. So, the manufacturers and government should work together to retain this confidence by maintaining a good business atmosphere, sustainable production, and a proper work environment.
