Former adviser to the caretaker government, Hossain Zillur Rahman, emphasized that while Bangladesh is progressing, the pace of development is the real concern.
“We often say the country is moving forward, but that statement alone is meaningless. What matters is the speed at which we are advancing,” he said.
Speaking at a Monday event organized by the Bangladesh Business Forum (BBF) at the Intercontinental Hotel in Dhaka on “Bangladesh’s Strategy Amid Global Trade Wars and the Role of FBCCI”, Zillur Rahman urged policymakers to move beyond complacency and accelerate economic, strategic, and mindset reforms.
“In 2004, Bangladesh and Vietnam were at the same level, but today Vietnam has surpassed us. Our people are hardworking, so progress will happen naturally, but we need to drive it faster through our decisions, economic policies, and mindset,” he added.
Zillur Rahman also stressed the need to identify new “growth drivers” to sustain economic momentum in Bangladesh. While the Ready-Made Garments (RMG) sector continues to export successfully, he said the country should focus on emerging sectors such as pharmaceuticals, agriculture, IT, and leather. He further suggested addressing corruption and bureaucratic harassment as systemic issues hindering growth.
Economist and Policy Exchange Bangladesh Chairman Masrur Riaz noted that the ongoing global trade war has created new opportunities for Bangladesh. “Imports from China to the US are shifting, and American companies are seeking alternative markets. Bangladesh, as a non-aligned and politically stable country, could be an attractive destination,” he said.
Masrur Riaz recommended that Bangladesh enhance competitiveness, streamline trade facilitation, diversify exports, and improve administrative efficiency to capitalize on these opportunities.
Former FBCCI president Shafiullah Chowdhury criticized the organization’s performance under the previous government, saying it failed to protect business interests. He remarked that current business conditions leave entrepreneurs “like orphans,” citing sudden port charge increases and various bureaucratic hurdles.
Former FBCCI leader Abdul Haq also presented a paper analyzing the impact of global trade wars and measures Bangladesh can adopt to benefit from the changing landscape.
