The premier set off the fair by cutting ribbons and releasing pigeons and balloons at the Bangabandhu International Conference Centre on Wednesday, reports bdnews24.
"2020 is a very important year for us. We are making life easier for those who wish to operate businesses in this country. We do not run businesses ourselves, but we are a business-friendly government and create opportunities for others," said Hasina.
"We should not limit ourselves to the production of one or two products for export but strive to produce more. We are also paying special attention to the demand of the products in the domestic and foreign markets."
The Prime Minister also called for efforts to expand the export market and introduce new products to increase the export income.
While addressing the opening ceremony, Hasina highlighted the establishment of special economic zones and other plans designed by the government to facilitate investment and trade.
Besides India, some of the other participating nations include, Bhutan, Nepal, the Maldives, Pakistan, China, South Korea, Iran, Malaysia, Singapore, Thailand, Turkey, Mauritius, Vietnam, Russia, the US, the UK, Germany and Australia.
About 450 stalls and pavilions have been set up this year, down from 550 in 2018.
General stalls have been affected the most by the downgrade. There were 250 general stalls in 2018 but the number has been brought down to 50 this year.
The fair will remain open from 10 a.m. to 10 p.m. every day.
( With inputs from IANS )