These matters were discussed in a meeting between Commerce Minister Khondaker Abdul Muktadir and UNDP Bangladesh Resident Representative Stefan Rodricks at the Secretariat on Sunday (August 30).
In the meeting, UNDP emphasised leveraging Bangladesh's growing investment potential, strengthening local businesses, and ensuring environmental and social standards for businesses.
The commerce minister said the government has taken various initiatives to simplify business licensing and approval processes. Processes that used to take about three months to complete can now be completed within two weeks. Necessary steps will be taken to make these processes easier and faster in the future.
The meeting also discussed reducing high logistics costs and improving efficiency in port and terminal management. The minister said the government is working to increase the country's trade competitiveness by ensuring international-standard management and reducing the time and cost of loading and unloading goods.
The commerce minister sought UNDP's cooperation in identifying financing gaps in the MSME sector, providing training to entrepreneurs, enhancing business skills, and creating effective market linkages.
UNDP Resident Representative Stefan Rodricks said the potential for connecting small and medium enterprises to global supply chains and making them export-oriented will be explored. In addition, UNDP will provide training, necessary tools and international experience-sharing support to reduce delays in customs processes, facilitate trade, and enhance Bangladesh's capacity in negotiating international trade agreements.
Expressing optimism about Bangladesh's recent changes and economic prospects, Stefan Rodricks said UNDP cooperation would be realigned with the government's priorities of creating employment, achieving economic growth and diversifying the economy. He said international investors are also viewing Bangladesh's recent changes positively.
Officials from the Ministry of Commerce and UNDP were present at the meeting.
