Staff Reporter:
Commerce Minister Khandakar Abdul Muktadir yesterday informed the Parliament that the ongoing ge-opolitical tensions in the Middle East may have potential impacts on global economy and trade while Bangladesh is not an exception to that.
The Minister said this while responding to a starred question from ruling party lawmaker Md. Shamsur Rahman Shimul Biswas, MP (Pabna-5) during the question-answer session in the House yesterday.
He said the Middle East is a significant trading partner for Bangladesh while the country exports ready-made garments (RMG), pharmaceuticals, frozen foods, leather and leather goods to markets such as the United Arab Emirates, Saudi Arabia, Qatar, Kuwait, and Oman.
He noted that the current instability could lead to rising fuel prices, increased import costs, higher ship-ping and insurance expenses, possible decline in exports to Middle Eastern markets, price hikes of com-modities, and potential challenges in remittance inflows.
“To tackle the situation, the government has undertaken a series of measures under the directive of the Prime Minister,” he added.
These measures include diversifying export markets by expanding trade with India, Nepal, Bhutan, East Asia, and ASEAN countries.
The government is also working to broaden the export basket beyond RMG to include pharmaceuticals, agro and agro-processed products, jute and jute goods, plastics, frozen foods, shrimp, ICT products, and light engineering goods.
To boost sector-based exports, he said no-objection facilities have been provided for importing raw ma-terials on a Free of Cost (FOC) basis in shipbuilding and footwear industries. Additionally, Rules of Origin (RoO) certificates are being issued online to facilitate exporters in accessing preferential market benefits.
The Minister said Bangladesh is actively engaging in bilateral and regional trade negotiations. These in-clude Joint Working Committee meetings and Commerce Secretary Level Meetings with countries such as India, Bhutan, Nepal, Cambodia, and Sri Lanka to resolve trade-related issues.
He also highlighted ongoing negotiations on several major trade agreements, including: Bangladesh-Korea Comprehensive Economic Partnership Agreement (CEPA); Bangladesh-Singapore Free Trade Agreement (FTA) and Bangladesh-UAE CEPA.
Regarding regional trade, he said three rounds of negotiations for a Preferential Trade Agreement (PTA) with Nepal have already been completed, with efforts underway to hold the fourth round.
Similarly, Bangladesh hosted the 10th Commerce Secretary-level meeting with Bhutan in March 2026 to strengthen bilateral trade and remove existing barriers.
The Commerce Minister further stated that Bangladesh has signed an Economic Partnership Agreement (EPA) with Japan, which, once ratified, will become the country’s first free trade agreement with any nation.
He added that negotiations are ongoing with several other countries to enhance trade and investment ties.
To maintain stability amid the global situation, Muktadir said the government is closely monitoring de-velopments and remains prepared to take necessary actions to protect trade and macroeconomic stability.
As part of energy-saving measures, he said shopping malls, markets, shops, billboards, trade fairs, exhi-bitions, and cultural events are required to close by 7:00 pm.
Decorative lighting at fairs has been discouraged, and steps have been taken to promote efficient use of electricity, he added.
The Minister said market monitoring has been intensified to prevent hoarding and artificial shortages, with authorities instructed to take legal action where necessary.
Besides, efforts are also underway to strengthen coordination with countries such as China, Malaysia, and Indonesia to ensure uninterrupted supply of essential goods.
Additionally, the minister said the government has issued directives to reduce office hours, limit the use of unnecessary lighting, fans, and air conditioners, and cut expenditures in sectors such as foreign train-ing, vehicle procurement, electricity, and fuel under the revised budget framework.
