United News of Bangladesh

The government has fixed the prices of salt-applied rawhides of sacrificial animals ahead of Eid-ul-Azha, raising cowhide rates by Tk 2 per square foot compared to last year. Commerce Minister Khandaker Abdul Muktadir announced the prices at a press briefing at the ministry in Dhaka on Wednesday. Under the new rates, salt-applied cowhide in Dhaka has been fixed at Tk62–Tk67 per square foot, up from Tk 60–Tk 65 last year. Outside Dhaka, the price has been set at Tk57–Tk62 per square foot, compared to Tk55–Tk60 last year. Goat hides will sell for Tk25–Tk30 per square foot across the country, while she-goat hides have been fixed at Tk22–Tk25 per square foot. The minister said the government will again provide salt worth Tk17.6 crore free of cost for preserving rawhides. Traders as well as mosques and madrasas in different areas will be involved in preservation. He said the government is working to ensure that no rawhide is wasted during Eid-ul-Azha. In future, district and upazila administrations will train people from mosques and madrasas to properly preserve hides after sacrifice, he added.  

Commerce Minister Khandakar Abdul Muktadir on Thursday stressed the need to cut bureaucratic red tape, reduce logistics costs, improve port efficiency and unlock idle state-owned assets to make Bangladesh competitive in tomorrow's global economy. “We cannot move forward by dwelling on old problems. The time has come for pragmatic reforms and swift implementation of commitments,” Muktadir said while addressing the inauguration of the ‘Dhaka Industrial Packaging Expo 2026’ at the Bangladesh-China Friendship Convention Centre in the capital. The minister said entrepreneurs currently need 25 to 26 separate approvals and licences to start a business in Bangladesh, making the investment environment unnecessarily cumbersome. “To address this, the government is working to streamline the business registration process.” He said that in future, any enterprise completing registration through BIDA or the relevant authority will receive a ‘provisional clearance’ at the outset, allowing entrepreneurs to begin operations without delay. Muktadir highlighted that Bangladesh's logistics cost stands at around 16 percent of GDP, well above the global average of approximately 10 percent. “Inefficiencies in port management are inflating cargo transportation costs and eroding the country's international competitiveness. To reverse this, internationally recognised foreign operators are being brought in to manage port operations.” He said a Danish company has already begun operating a container terminal, with more international-standard firms to be engaged in port activities going forward. The minister said Bangladesh is on its path from Least Developed Country (LDC) to developing country status, leaving no room for stop-gap measures. “Sustainable reform must be implemented consistently; there is no shortcut.” On state-owned enterprises, Muktadir said dozens of large industrial units have been lying idle or running at a loss for years, creating a massive subsidy burden on the exchequer. “Around 40 enterprises fall under the Ministry of Industries and another 50 under the textiles and jute sector. The government is gradually opening these units to private investment to bring their vast landholdings and assets into productive use.” “Our goal is to turn these dormant industrial units into hubs of investment and employment within the next one to two years: some will be modernised, some will host new industries, and others will be developed into export-oriented production centres,” he said. He noted that each sugar mill in the country sits on an average of 1,000 bighas of land or more. Developing modern industrial parks or multi-purpose industrial facilities on these sites, he said, could generate substantial investment, employment, and government revenue. Turning to the packaging sector, the minister urged entrepreneurs to think big. “You cannot reach a big destination with a small vision. The government will provide policy and institutional support, but it is the entrepreneurs who must drive industrial growth.” Muktadir reiterated the government's commitment to expanding domestic industry, creating new jobs, strengthening Bangladesh's presence in international markets, and injecting new momentum into the economy through higher export earnings. Export Promotion Bureau (EPB) Vice Chairman Mohammad Hasan Arif also addressed the event as special guest. Entrepreneurs, business leaders, institutional representatives, and domestic and foreign stakeholders attended the expo.

Commerce Minister Khandaker Abdul Muktadir on Wednesday said the transition to a circular economy is a key prerequisite for strengthening Bangladesh’s industrial competitiveness, sustainable growth and global market position. “The global market is changing rapidly. Sustainable production is now a key determinant of competitiveness in international trade. Buyers, investors and consumers are increasingly interested in production systems that reflect efficiency, responsibility and long-term stability,” he said. He made the remarks while speaking as the chief guest at a seminar titled “Accelerating circular economy transformation in Bangladesh through SWITCH2CE pilot initiative,” jointly organised by the Ministry of Commerce and the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) at a hotel in Dhaka. Commerce Ministry Secretary (routine charge) Md Abdur Rahim Khan chaired the event. EU Ambassador to Bangladesh Michael Miller and BGMEA President Mahmud Hasan Khan also spoke as special guests. The minister said the pilot activities under the “SWITCH to Circular Economy” programme have already demonstrated that the transition to a circular economy is not a theoretical concept, but a practical and achievable process already in implementation.  

Commerce Minister Khandakar Abdul Muktadir on Tuesday said the Bangladesh-US trade agreement should be utilised for mutual benefit, stressing that there is no reason for concern over the deal. He made the remarks while talking to reporters after a meeting with US Assistant US Trade Representative for South and Central Asia Brendan Lynch at the conference room of his ministry in the morning. The minister said international agreements are always built on mutual cooperation. “Any international agreement is shaped by both parties. It is designed to create a win-win situation, taking into account the interests of both sides. Therefore, there is nothing to worry about this agreement,” he said. He noted that the current government did not initiate the agreement but inherited it as part of state continuity. “A state-level agreement is not like a personal contract that can be cancelled at will. It is a reality, and we want to utilise it to expand trade and investment in the country,” Muktadir added. He also referred to a recent investigation initiated by the United States, saying Bangladesh had sought clarification on the matter and responded with its observations after receiving explanations. “We have clearly stated that such an investigation would have been more positive if it had not been initiated in the context of the existing agreement,” he said. Highlighting Bangladesh’s production and trade reality, the minister said the country does not have overcapacity in any sector and rejected allegations of dumping. “We import most of our goods. Our exports, particularly in the ready-made garment sector, operate under strict international compliance. There is no scope for labour law violations or child labour,” he said. On the possibility of cancelling the agreement with the US, Muktadir said the government, as the elected representative of the people, always prioritises national interest. “If any clause in the agreement goes against Bangladesh’s interests, there is scope for amendment within the agreement itself. It has a self-correcting mechanism,” he said. The minister added that there is no reason for panic or worry regarding the issue. During the meeting, both sides discussed strengthening Bangladesh-US trade and investment relations, along with other issues of mutual interest. Senior officials, including Secretary (Routine Duty) of the Ministry of Commerce Md Abdur Rahim Khan, were present.

Commerce, Industry and Textile and Jute Minister Khandaker Abdul Muktadir on Thursday said the government has adequate food stocks to keep the market stable during the upcoming month of Ramadan. He said one of the key responsibilities of the Ministry of Commerce is to keep prices of essential commodities stable, and this duty becomes more important during Ramadan. “Although there was no time to take special steps after assuming office, the existing stock situation is positive and sufficient to maintain price stability,” he added. The minister made the remarks while replying to journalists after exchanging greetings with officials of different government departments and party leaders at Osmani International Airport. Responding to a question on development plans for Sylhet, he said he had highlighted these plans during his long election campaign and in the election manifesto. He said the he wants to work on issues directly linked to improving the living standards of people in Sylhet. He said priority will be given to job creation, expansion of IT-related professions and the establishment of an AI centre in the region. The minister said Bangladesh must build capacity to compete globally. Over the next five years, the government will use every day effectively to move the country forward in the global arena with sincerity. Replying to a question on job creation at the Sylhet IT park, he said investment is essential to create employment. He said special policy support is needed for expatriate and local investors in Sylhet, adding that work is underway and visible progress will be seen soon. Among others, Sylhet-3 MP MA Malek, Divisional Commissioner Khan Md Reza-un-Nabi, Range DIG Md Mushfekur Rahman, Metropolitan Police Commissioner Abdul Quddus Chowdhury, Deputy Commissioner Md Sarwar Alam, the acting president of Sylhet Metropolitan BNP, and other party leaders were present at the time.

The newly elected BNP government will take necessary steps to defer Bangladesh’s graduation from the Least Developed Country (LDC) status, Commerce Minister Khandaker Abdul Muktadir said on Wednesday. “We will take all required measures to defer the LDC graduation. Work on the matter has already begun,” Muktadir told reporters at the Secretariat on his first day in office. Muktadir said the government is keen to defer the graduation timeline and will do whatever is necessary to that end. The initiative has started from the Ministry of Commerce and will be pursued in coordination with the Economic Relations Division (ERD) to expedite required communications and procedures. Referring to long-standing demands from business leaders, he said the issue is being treated with utmost priority. “There is no obligation to send a letter within the first week, but we have started working on it from today.” On the recent slowdown in exports, the Commerce Minister said Bangladesh’s export basket remains highly concentrated, with nearly 85 percent of total exports dependent on a single product. To overcome the vulnerability, Muktadir stressed the need for diversification by adding new products and expanding into new markets. The private sector, particularly investment-oriented entrepreneurs, will receive necessary support, he said. Responding to concerns over the Ramadan market, Muktadir said stable supply would ensure market stability. “The government has adequate stocks of essential commodities for Ramadan and the subsequent period, with sufficient supplies also in the pipeline. There is no reason to panic over the Ramadan market.” Explaining the price hikes of certain items at the beginning of Ramadan, he said the increases are often driven by a one-off surge in demand as consumers tend to purchase for the entire month at once, temporarily impacting the retail market. “Such impact does not last long.” Finance Minister Amir Khosru unveils ambitious reform plan on day one Asked whether the onset of Ramadan immediately after the new government assumed office poses a major challenge, Muktadir said managing the holy month will be a crucial test for the government. “We must meet people’s expectations. There is no alternative to success.” On foreign and domestic investment, the minister noted that investment does not flow amid uncertainty. A stable environment is the primary condition for attracting investment, as investors seek assurance of expected returns against their capital and labour. Muktadir said Bangladesh has a large working-age population, with around 2 to 2.2 million people entering the labour market every year. Investment stagnation over the past two to three years has created significant pressure and failure to address the situation promptly could pose serious risks to employment and the broader economy. State Minister for Commerce Md Shariful Alam and Commerce Secretary Mahbubur Rahman were present. Later, the Commerce Minister exchanged views with senior officials and heads of departments under the ministry.