Dhaka, April 29 (V7N) — Commerce Minister Khandakar Abdul Muktadir has called for an urgent shift in Bangladesh’s trade strategy, emphasizing export diversification and enhanced investment flows to solidify the economic partnership with the United States. Speaking as the chief guest at an AmCham seminar titled "Advancing the US-Bangladesh Economic Partnership" on Wednesday, the Minister warned that the country’s heavy reliance on the Ready-Made Garments (RMG) sector leaves the national economy vulnerable to global market fluctuations.

Minister Muktadir highlighted that while the U.S. remains a top-tier trading partner, the lack of variety in export goods is a significant risk factor. To mitigate this, he announced that the government is now prioritizing several key sectors for growth and international market entry:

Pharmaceuticals & ICT: Leveraging a young, skilled workforce and rapid digital transformation.

Agro-products & Light Engineering: Tapping into regional and global supply chains.

Leather & Leather Goods: Enhancing value addition and sustainability standards.

He specifically identified the U.S. as a critical partner for technology transfer in cutting-edge fields like Artificial Intelligence (AI) and fintech, noting that collaboration in digital services could be the next frontier for the bilateral relationship.

With Bangladesh scheduled to graduate from the Least Developed Country (LDC) category in November 2029, the Minister stressed the necessity of a smooth transition. He revealed that Bangladesh has formally proposed a three-year extension of trade benefits beyond the graduation date and sought proactive support from the United States to ensure continued market access during this critical period.

While acknowledging the significant presence of U.S. investment in Bangladesh’s energy sector, the Minister noted that overall Foreign Direct Investment (FDI) remains below its true potential. He called for stronger policy support and stable frameworks to address recent fluctuations in FDI, aiming to build long-term confidence among American investors.

The seminar was attended by high-level stakeholders, including U.S. Ambassador Brent T. Christensen, who served as the special guest, and AmCham President Syed Ershad Ahmed, who delivered the welcome address. Both speakers echoed the need for collaboration to overcome trade barriers and foster a more resilient, technology-driven economic alliance.

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