Dhaka, Jan 1 Bangladesh Prime Minister Sheikh Hasina on Saturday urged the business community to invest in research and development for determining the product, product demand and quality to expand their businesses both at home and abroad.
The Prime Minister also asked the business community to explore new markets for the export of Bangladeshi items and diversify the products, which are urgently needed for export.
"I always put emphasis on research. It's also needed in trade and commerce. You need to determine the product, product quality and its demand through research," Hasina said while inaugurating the 26th edition of Dhaka International Trade Fair (DITF).
"Bangladesh is advancing, our GDP had crossed 8 per cent, but it slid down slightly. I believe we'll be able to overcome all the hurdles," Hasina said as she thanked all the stakeholders for their all-out efforts to run the economy during the pandemic.
She then briefly described her government's steps and stimulus packages to keep the wheel of the economy moving.
Hasina also mentioned that the world has entered the era of technology as the fourth industrial revolution is in progress.
"Keeping eyes on that, we've taken a move to generate skilled manpower so that we never fall behind," she said.
Sheikh Hasina joined the fair virtually from her official residence Ganabhaban.
The Prime Minister urged the business people to maintain and improve the quality of the export items for upholding the image of the country.
"You've to create your own branding and move forward," she said.
Talking about the government's steps for economic diplomacy, she said the government has completed its survey for signing PTA or FTA or any other form of business deals with 23 countries, aiming to enhance trade and commerce of Bangladesh with them.
During the Covid-19 pandemic, Hasina mentioned, the country's economy did not get completely stalled as happened in many countries around the world.
Commerce Minister Tipu Munshi presided over the function jointly organised by the Commerce Ministry and the Export Promotion Bureau (EPB).
Commerce Secretary Tapan Kanti Ghosh and President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Md Jashim Uddin, and Vice Chairman of the Export Promotion Bureau (EPB), A.H.M. Ahsan, also spoke at the event.
As the country's economic activity has increased significantly, Hasina said, the demand in the local market is also growing fast.
She asked the business community to produce agricultural products, look into food production and processing.
"During the pandemic, food product demand is increasing in many countries and this will never slow down," she added.
The Prime Minister also put emphasis on improving the quality and standard of the existing export items and finding out the demand for various products across the globe.
"You've to find out new countries and know their product demands," Hasina said.
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