Expanding trade in non-conventional markets important: FBCCI

Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) President Md Jashim Uddin said that it is essential to strengthen commercial activities in order to expand trade in non-conventional markets.

Md Jashim Uddin said this during a courtesy meeting with the newly appointed ambassador of Bangladesh to Libya Major General Abul Hasnat Mohammad Khairul Bashar on Wednesday at the FBCCI.

FBCCI President said Bangladesh is still lagging behind in expanding trade to other regions of the world outside the conventional markets of Europe and America.

"Initiatives should be taken to capture non-conventional markets like the Middle East, Africa, and Asia," he said.

"The global geopolitical context has opened a new door of opportunity for Bangladesh as buyers are moving away from single-market dependence," he added.

The FBCCI president said Bangladesh should increase its efficiency in marketing strategy to utilize this potential.

Highlighting the potential sectors of the country, Md Jashim Uddin said that the processed food industry is expanding rapidly.

"Besides this, Pharmaceuticals, electronic products, light engineering, leather, ceramics, and plastic products have huge potential," he said. He urged the ambassador to take initiatives in expanding the markets of these products in Libya.
 
Ambassador Major General Abul Hasnat Mohammad Khairul Bashar said, "The security situation in Libya is gradually improving. So there is scope for Bangladesh to work again with Libya in several sectors."

The embassy will work on exporting skilled manpower to Libya, he added.

FBCCI Vice President Md Habib Ullah Dawn, Secretary General Mohammad Mahfuzul Hoque, Ambassador Mosud Mannan, and others were present at the meeting.