Bangladesh is stable, predictable, and open for business: FM

Foreign Minister Khalilur Rahman has stated that the government's immediate priority is to restore full confidence and trust among local and international partners by demonstrating that the country is stable, predictable, and open for business.

He made the remarks while inaugurating a conference titled "Roadmap for Trade, Growth and Economic Diplomacy 2026 - Navigating Risks: Leveraging Resilience" at a Dhaka hotel today (13 June).

The event was jointly organised by the International Trade, Investment and Technology Wing of the Ministry of Foreign Affairs and the Bangladesh Investment Development Authority (Bida) to serve as a working platform supporting informed policymaking on trade, investment, and economic diplomacy.

Addressing diplomats, policymakers, development partners, and business leaders, Khalilur Rahman acknowledged that the new administration, led by Prime Minister Tarique Rahman, faces the critical task of redesigning the country's international economic engagements.

This comes at a time when the nation must navigate slowing global economic growth, geopolitical tensions, trade policy uncertainties, rising barriers, and structural shifts in global supply chains.

The minister pointed out that moderate growth prospects in major markets are likely to translate into sluggish consumer demand, affecting Bangladeshi exports and requiring the country to compete ever more fiercely.

A 'lost decade'

He also highlighted the disparity in global financial markets, noting that while advanced economies can borrow at rates between 1% and 4%, developing countries like Bangladesh face borrowing costs ranging from 6% to 12% or higher, leaving them vulnerable to swings in market sentiment.

Citing a recent Investment Policy Review by UNCTAD, Khalilur added that climate vulnerability has become a growing barrier to accessing affordable finance, with climate-vulnerable countries paying billions of dollars in additional interest costs annually.

He further warned that the ongoing energy crisis is driving up Bangladesh's import bills and production costs, threatening industrial competitiveness.

Citing the International Energy Agency (IEA), he warned that the current crisis could have a larger impact than the oil shocks of the 1970s, which triggered a "lost decade" of development for many developing nations.

Khalilur also identified the rapid emergence of "Trade Tech", the convergence of trade, investment, and technology through AI, blockchain, IoT, and 5G, as a major force reshaping the global economy.

Despite these critical hurdles, the foreign minister emphasised that the BNP government plans to transform such challenges into opportunities through the prime minister's clear vision of 3 key goals: stabilise, reform, and elevate.

Reaffirming Bangladesh's commitment to a foreign policy based on friendship, mutual growth, and shared prosperity, Khalilur Rahman announced that the country's embassies and high commissions are being reoriented to serve as proactive facilitators of trade and investment.

The minister pledged comprehensive, deep structural reforms to improve the ease of doing business, stating that the government does not view the local business community merely as taxpayers, but as primary strategic partners.

He assured that the administration is working to replace numerous systemic bottlenecks with policy predictability, transparency, and a level playing field for everyone, from resilient SME sectors to major industrial conglomerates, while opening new markets and securing supply chains.

'2 sides of the same coin'

Reflecting on the government's first 100 days, which have garnered an exceptionally positive response from all quarters, the minister expressed firm confidence in the nation's economic future.

"Challenges also bring opportunities; it is two sides of the same coin," he said.

"Political transitions can bring questions, but they also bring the clarity of purpose needed for genuine transformation. Our government possesses the political will, the strategic vision, and the unwavering commitment to make Bangladesh the most competitive investment destination in South Asia."

The inauguration was also addressed by Rural Development and Cooperatives Minister Mirza Fakhrul Islam Alamgir, Finance Minister Amir Khosru Mahmud Chowdhury, and Bida Executive Chairman Chowdhury Ashik Mahmud Bin Harun alongside other high-profile delegates, business representatives, and diplomats in attendance.

The foreign minister called on international investors and diplomats to maintain a continuous dialogue with the administration, adding, "Measure us by our actions, hold us to our commitments, and walk with us as we rebuild trust and unlock the true, vibrant potential of Bangladesh."