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.

“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,” she said while inaugurating the 26th edition of Dhaka International Trade Fair (DITF).

The largest annual commercial and trade event of the country is being held at its permanent venue – “Bangabandhu Bangladesh-China Friendship Exhibition Centre '' – at Purbachal on the outskirts of the capital for the first time.

READ: PM opens distribution of free textbooks among students

Sheikh Hasina joined the fair virtually from her official residence Ganobhaban.

Commerce Minister Tipu Munshi presided over the function that 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) AHM Ahsan also spoke at the event.

The Prime Minister urged the businesspeople 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 step 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 Bangladesh’s trade and commerce with them.

During the Covid-19 pandemic, Hasina mentioned, the country’s economy did not get completely stalled as in many countries around the world.

The PM thanked all stakeholders for their all-out efforts to run the economy during the pandemic. “Bangladesh is advancing, our GDP crossed 8 percent, but it slid down slightly. I believe we’ll be able to overcome all the hurdles.”

Hasina briefly described the government’s steps and stimulus packages to keep the wheel of the economy moving.

The Prime Minister asked the business community to explore new markets for export Bangladeshi items and diversify the products which is urgently needed for export.

“At this pandemic, food product demand is increasing in any countries and this will never slow down,” she said.

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.

The Prime Minister also put emphasis on improving the quality and standard of existing export items and find out the demand of various products across the globe. “You’ve to find out new countries, know their product demands.”

In this connection, she mentioned about the leather and leather products, jute and jute goods, processed foods and agricultural items.

READ: Get vaccinated, PM renews her call to all

About technology, she said 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.