Commerce Minister Tipu Munshi has emphasized the significant role that technologically advanced centres dedicated to the production of versatile products will play in enhancing the country's position in the global market.
He made these statements during an event held at the Radisson Blu Hotel in Dhaka on Tuesday, where the Ministry of Commerce presented an updated project under the Export Competitiveness for Jobs (EC4J) program, entitled "Bangabandhu Design and Technology Centre for Leather Goods and Footwear" and "Center of Excellence for Engineering and Technology."
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The event included the signing of agreements for the construction of these centers.
Tipu Munshi highlighted the role of diversifying products in the context of export-oriented manufacturing growth and poverty reduction. This vision is underpinned by a focus on the expansion of products and market diversification within the export policy. He emphasized that to strengthen Bangladesh's position in the international export market, these technology centers would be pivotal.
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He mentioned that by the year 2040, Bangladesh aims to achieve export targets of $300 billion, and by 2030, $100 billion, and these establishments will play a supporting role in achieving these milestones.
The minister also underscored the importance of private sector engagement, especially among exporters, as a significant driving force in the country's economic development. He called upon the entrepreneurs in relevant sectors to easily familiarise themselves with modern and global technologies through these technology centers. Through the utilization of advanced technology in production processes and improving product quality, they can enhance Bangladesh's capabilities and competitiveness in the field of export trade.
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Minister Tipu Munshi emphasized that the export market is currently limited in terms of product diversity. Currently, approximately 84% of our export earnings come from the ready-made garment sector. To address these challenges, the Ministry of Commerce is implementing the Export Competitiveness for Jobs (EC4J) project under the directives of Prime Minister Sheikh Hasina.
The Export Competitiveness for Jobs (EC4J) project, represented by its project director, Md Monjurul Alam (Additional Secretary), and the Vice Chairman of National Development Engineers LTD, Rayhan Mustafiz, signed the agreements.
It is worth noting that two centers, namely the "Bangabandhu Design and Technology Center for Leather Goods and Footwear" on a 5-acre plot in Kashimpur, Gazipur, and the "Center of Excellence for Engineering and Technology" on a 5.2-acre plot in Kaliakair, Gazipur, will be constructed to facilitate the diversification of export products and market expansion.