Trade talks are underway with 12 countries: Commerce Minister

Bangladesh is in talks with 12 countries, including Indonesia and Malaysia, to sign free trade agreements (FTAs), Commerce Minister Khandaker Abdul Muktadir has said.

He also expressed hope that formal negotiations on an FTA with the European Union (EU) could begin within the next month.

The minister made the remarks while speaking as the chief guest at an event organised by the Bangladesh Institute of International and Strategic Studies (BIISS) in the capital on Wednesday morning.

Khandaker Abdul Muktadir said, “Discussions are underway with 12 countries, including Indonesia and Malaysia, on signing free trade agreements. At the same time, formal negotiations with the European Union on an FTA are expected to begin soon.”

He said the government was taking various initiatives to boost the country’s export capacity.

“We are also working to improve the business and investment environment by ensuring reliable access to energy and allowing investors to repatriate dividends and capital safely to their home countries,” he added.

The commerce minister said the government was prioritising the creation of a favourable investment climate in Bangladesh.

At the same time, efforts were being made to ensure greater market access for Bangladeshi products internationally to address the trade challenges the country is expected to face after graduating from the least developed country (LDC) category.

Meanwhile, speakers at the event highlighted Bangladesh’s lagging position despite the huge potential of halal products in the global market. They said the global halal market is worth around $3 trillion, while Bangladesh’s share remains below $1 billion.

Despite its potential, Bangladesh has been unable to establish a stronger position in the sector, mainly due to inadequate policies, research, technological advancement, skilled manpower and financing.

The speakers further said that increasing Bangladesh’s participation in the international halal market would require coordinated efforts at every stage—from production and quality control to certification, exports and marketing.