‘Lack of integrated policy slows export diversification’

Bangladesh has made limited progress in export diversification because of the absence of integrated policy and slow implementation of current strategies, experts said.

They spoke at a seminar titled "Export diversification imperative: key sectoral opportunities and policy priorities for Bangladesh" organised by the Policy Exchange of Bangladesh at a hotel in Dhaka on Thursday.

Tapan Kanti Ghosh, senior secretary of the commerce ministry, attended the programme as the chief guest while M Masrur Reaz, chairman of Policy Exchange Bangladesh, presented the keynote paper.

Reaz mentioned that the next phase of the growth trajectory requires the economy to expand significantly in order to absorb additional labour and allow Bangladesh to use its demographic dividend.

Bangladesh has made good progress in export-led growth, but the country's growth model has been highly reliant on readymade garment products, he said.