Bangladesh’s Commerce Minister, Khandakar Abdul Muktadir, has assured that there is no cause for public concern over the country’s market situation. Speaking to journalists at the Secretariat on Wednesday (18 January), he highlighted the structural vulnerabilities in Bangladesh’s export sector, noting that it remains narrowly focused, with approximately 85 per cent of exports dependent on a single product.
“To overcome this reliance, it is imperative to diversify export products, introduce new goods, and expand into untapped international markets,” he said. The minister emphasised that the government would continue to support and encourage private-sector investment as a key driver of economic growth.
Market Stability During Ramadan
In response to questions regarding price control during the upcoming Ramadan, the minister expressed confidence in market stability. “As long as supply chains function normally, the market will remain stable. The government currently maintains adequate stocks of essential commodities, and additional supplies have been ensured through the pipeline. There is therefore no reason for panic,” he said.
Addressing the recent sudden price increases at the start of Ramadan for certain items, he explained, “These spikes are a one-off response to higher demand. Many households purchase their entire month’s provisions at once, creating temporary surges in retail consumption. Such effects are, however, not long-lasting.”
Investment and Employment Concerns
Commenting on domestic and foreign investment, Khandakar Abdul Muktadir noted, “Investments do not occur amidst uncertainty. Investors seek stable environments for their capital. Bangladesh has a large, young, and growing workforce, with approximately 2–2.2 million new entrants into the labour market each year. The relative stagnation of investment over the past two to three years has placed significant pressure on the economy. Without rapid expansion of investment, employment opportunities and economic growth are at risk.”
He added that the convergence of a new government taking office with the beginning of Ramadan presents a substantial test for policy effectiveness, underscoring the imperative to meet public expectations promptly.
Commerce State Minister Md Shariful Alam and Commerce Secretary Mahbubur Rahman were present during the briefing. Following the session, the minister held discussions with senior officials and department heads of the Commerce Ministry.
Export and Market Overview
The table below summarises the current status of Bangladesh’s export structure, investment climate, and measures to stabilise the market:
| Area | Current Status | Recommended Measures / Initiatives |
|---|---|---|
| Export Product Diversity | 85% of exports rely on a single product | Introduce new products; increase diversification |
| New Market Expansion | Limited | Enter new international markets |
| Essential Commodity Stocks | Adequate stocks in government reserves; pipeline supplies ensured | Maintain sufficient reserves; stabilise market |
| Investment Climate | Stagnant over past 2–3 years | Encourage private investment; ensure stable environment |
| Labour Market | 2–2.2 million new entrants annually | Expand investment to create employment |
The minister’s remarks underscore the government’s dual focus on sustaining market stability and encouraging investment, alongside expanding and diversifying exports. These measures are aimed at fortifying Bangladesh’s economic resilience in the medium to long term.