Call for better business practices to boost trade edge

Speakers at a national dialogue jointly organised by the Ministry of Commerce and the United Nations Development Programme (UNDP) on Tuesday at a hotel in Dhaka called for stronger responsible business practices to enhance Bangladesh’s trade competitiveness, improve supply chain resilience, and sustain access to global markets as the country prepares for graduation from Least Developed Country (LDC) status.

The dialogue, titled “Responsible Business Conduct for Resilient Supply Chains and Trade Competitiveness,” and supported by the UK Government, brought together government officials, private sector representatives, business associations, development partners, civil society, academia and industry leaders to discuss alignment of Bangladesh’s trade and investment ecosystem with evolving global sustainability and due diligence standards.

Commerce Minister Khandakar Abdul Muktadir, attending as chief guest, said responsible business conduct is becoming a strategic economic priority, noting that stronger practices would improve investor confidence, expand market access and position Bangladesh as a competitive and sustainable sourcing destination.

Md Abdur Rahim Khan, additional secretary (Export Wing), Ministry of Commerce, stressed the need for stronger institutional coordination and support mechanisms to help businesses adapt to global requirements, adding that firms adopting responsible practices could improve competitiveness, efficiency and international reputation.

UNDP Bangladesh Deputy Resident Representative Sonali Dayaratne highlighted that Bangladesh’s transition must be inclusive, particularly for SMEs and emerging industries, and said responsible business conduct is now central to export competitiveness, investor confidence and long-term economic resilience.

The dialogue also highlighted the Ministry of Commerce’s plan to establish a Responsible Business Conduct (RBC) Cell to align with international standards and strengthen coordination among government bodies, the private sector, development partners and industry associations. Earlier, Dr Masrur Reaz, chairman of Policy Exchange Bangladesh, presented the keynote paper.