During a seminar held on Saturday, speakers emphasized the need to enhance the capabilities of small and medium enterprises (SMEs) to help them navigate the challenges of LDC Graduation and boost exports.
They highlighted several crucial factors for the comprehensive development of the SME sector, including technological advancement, access to financing, marketing opportunities, research and innovation, product diversification, cluster-based skill development, and infrastructure.
The seminar, titled ‘Improving Export Capabilities of SMEs: Succeeding Globally upon LDC Graduation,’ was organized by the Dhaka Chamber of Commerce & Industry (DCCI).
Dr. Shirin Sharmin Chaudhury, MP, Speaker of the Bangladesh Parliament, attended the event as the chief guest. She acknowledged the resilience of Bangladesh’s SMEs, which contribute over 30 percent to the GDP. However, she also recognized the challenges facing the sector and urged policymakers to address these issues.
Dr. Shirin emphasized the importance of technology adoption to access virtual markets and encouraged SME entrepreneurs to use the Joyeeta Foundation platform for product sales.
Barrister Md. Sameer Sattar, President of DCCI, highlighted the need for preparation, as exporters, including SMEs, will face tariffs ranging from 8 percent to 16 percent on their exports after 2026. He emphasized the strong SME foundation in Bangladesh, contributing significantly to the country’s GDP, manufacturing value addition, and job creation.
Sattar proposed revising the SME definition to exclude medium-sized businesses, as they often enjoy privileges. He also recommended that banks offer SME-specific export financing, such as credit insurance, export development funds, and working capital loans, to address financial challenges related to exports.
He stressed the importance of maintaining an updated central SME database and endorsed foreign investment, technology transfer, and cluster development for export-oriented SMEs.
Dr. Selim Raihan, Executive Director of SANEM, delivered the keynote presentation during the seminar. He highlighted challenges faced by Bangladesh’s SMEs, including capacity limitations, policy and regulatory issues, financing hurdles, infrastructure gaps, and skills shortages.
Raihan suggested that the import tariff for SMEs in Bangladesh be made more investment-friendly, as it is currently relatively high.
Other speakers at the seminar included Kohinoor Yeasmin, CEO of Tarango; Rezbin Begum, MD of People’s Leather Industry; AFM Asif, CEO of Bengal Meat Processing Industries Ltd; and Dr. Md. Kabir Ahmed, Executive Director of Bangladesh Bank, who participated as panel discussants.
