Exporting Made in Bangladesh: Opportunities
Exporting Made in Bangladesh: Opportunities
Founder & CEO, Trade & Investment Bangladesh (T&IB)
Executive Director, Online Training Academy (OTA)
Secretary General, Brazil Bangladesh Chamber of Commerce & Industry (BBCCI)
Over the past two decades, Bangladesh has emerged as a dynamic player in the global export market, proudly branding its products with the label “Made in Bangladesh.” Once known primarily for its ready-made garments (RMG), the country is now diversifying its export basket to include pharmaceuticals, IT services, leather goods, jute products, and agro-processed foods. In FY 2022–23, Bangladesh’s total export earnings reached a record USD 55.56 billion, with the RMG sector alone accounting for over USD 46.99 billion, or 84.6% of the total. However, with rising global demand, favorable trade agreements, a large young workforce, and government-backed incentives, the country now stands at the cusp of expanding its export potential beyond traditional sectors.
This article explores the emerging opportunities for exporting Bangladeshi products, focusing on market diversification, sectoral growth, technological advancements, and global trade trends. It also highlights the strategic steps Bangladesh must take to sustain growth and elevate the “Made in Bangladesh” brand to new global heights.
1. Bangladesh’s Economic Transformation: From Textiles to Technology
Over the past three decades, Bangladesh has experienced a remarkable economic transformation, evolving from an agrarian and aid-dependent nation into one of South Asia’s fastest-growing economies. Much of this growth has been fueled by the robust expansion of the ready-made garment (RMG) sector, which positioned Bangladesh as the second-largest apparel exporter in the world, only behind China. However, in recent years, the country has taken bold steps toward diversifying its industrial base, signaling a strategic shift from a primarily textile-dependent economy to a broader, more technologically advanced manufacturing landscape.
At the heart of this transformation is Bangladesh’s commitment to building a strong and sustainable manufacturing ecosystem. Through the establishment of 100 Special Economic Zones (SEZs) and 28 Hi-Tech Parks, the government has created an enabling environment to attract both domestic and foreign direct investment (FDI). Sectors such as pharmaceuticals, leather and footwear, agro-processing, ceramics, light engineering, and ICT are now seeing increasing investor interest and export growth. For instance, Bangladesh’s pharmaceutical industry, valued at over USD 3 billion, not only meets 98% of domestic demand but also exports to over 150 countries, with ambitions to become a regional pharma hub.
The leather and leather goods sector is another rising star, earning approximately USD 1.1 billion in export revenue in FY 2022–23. Meanwhile, the country’s IT and ICT services sector is expanding rapidly, with over 1,500 IT companies and more than 650,000 freelancers, making Bangladesh one of the top freelancing nations globally. The government aims to achieve USD 5 billion in IT exports by 2030.
Bangladesh’s journey reflects more than just economic growth it demonstrates strategic resilience, adaptability, and an ambition to climb the global value chain. As the country leverages its large, youthful workforce, competitive production costs, and growing infrastructure, it is steadily establishing itself not only as a global apparel leader but also as a promising manufacturing and innovation hub for the future.
2. Unlocking Export Potential: Opportunities for Businesses
As global supply chains shift and consumer preferences evolve, the label “Made in Bangladesh” is gaining increasing recognition across international markets not just for affordability, but for quality, reliability, and innovation. This changing perception is opening up significant export opportunities for Bangladeshi businesses across diverse industries.
2.1 Rising Global Demand and Competitive Advantage
Several factors are contributing to the rising demand for Bangladeshi products globally. First, Bangladesh offers a cost-competitive labor force, making its manufacturing sector one of the most efficient in the developing world. Second, continuous investments in quality control, compliance with international standards, and sustainability practices have enhanced the reputation of Bangladeshi exports, especially in Europe and North America. Third, the rise of a growing middle class in developing markets, coupled with the increasing adoption of e-commerce platforms, is allowing Bangladeshi products to reach new consumers in Asia, Africa, and the Middle East.
Moreover, Bangladesh benefits from preferential trade agreements and duty-free access to major markets such as the European Union (under the Everything But Arms scheme), the United Kingdom, Canada, and several Asian and African countries. These agreements give Bangladeshi exporters a competitive edge, especially in price-sensitive markets.
2.2 High-Potential Sectors for Export Growth
While the ready-made garment (RMG) sector remains the backbone of Bangladesh’s export economy, several other industries are showing strong potential for expansion:
- Pharmaceuticals: Bangladesh’s pharmaceutical sector is one of the most technologically advanced in South Asia. It has captured markets in Asia, Africa, Latin America, and the Middle East, driven by its ability to produce high-quality generics at competitive prices. Companies like Square Pharmaceuticals, Beximco Pharma, and Renata Limited are already exporting to over 150 countries, and the government is aiming to make Bangladesh a global hub for generic drug manufacturing.
- Footwear and Leather Goods: With rising global demand for stylish and affordable leather and synthetic footwear, Bangladesh’s leather goods sector has become a key export contender. Brands like Bay Footwear, Apex, and Leatherex have established strong overseas markets, particularly in Europe. In FY 2022–23, exports from the leather sector reached over USD 1.1 billion, with room for rapid growth as manufacturing capacity and design capabilities expand.
- Information Technology (IT) and Business Process Outsourcing (BPO): The ICT sector in Bangladesh has been making headlines for its rapid growth. With over 650,000 registered freelancers and a growing number of tech startups, the country has become one of the world’s leading hubs for freelance IT services. Companies such as DataSoft, BJIT, and Brain Station 23 are exporting software and digital services to Japan, the USA, and Europe. The government’s Digital Bangladesh Vision and incentives for tech firms have positioned this sector as a key export driver, with a goal of reaching USD 5 billion in ICT exports by 2030.
- Agro-Processed and Halal Foods: With the global halal food market projected to reach USD 3 trillion by 2030, Bangladeshi companies are beginning to tap into this sector. Exports of frozen foods, snacks, and halal-certified products are growing, particularly to the Middle East and Southeast Asia. Companies like PRAN-RFL Group are leading the way, exporting to over 140 countries and setting benchmarks for agro-processing excellence in Bangladesh.
2.3 Success Stories of Bangladeshi Exporters
Numerous Bangladeshi businesses are already making a mark in global markets:
- BEXIMCO Pharmaceuticals became the first Bangladeshi company to export medicines to the US and the EU, demonstrating compliance with stringent regulatory standards like the US FDA and UK MHRA.
- Apex Footwear Ltd. exports high-quality shoes to over 30 countries, including Germany, Italy, and Japan, while maintaining strong branding in domestic and international retail.
- DataSoft Systems Bangladesh Ltd. developed and exported a smart city solution to Japan marking a milestone as one of the few South Asian companies to export complex digital systems to a developed nation.
These success stories highlight the readiness of Bangladeshi firms to expand globally and the opportunities awaiting others willing to innovate, invest, and internationalize.
3. Navigating the Export Landscape: Government Support & Initiatives
Bangladesh’s export growth story has not been driven by private enterprise alone strategic government policies and institutional support have played a pivotal role in laying the foundation for a competitive export economy. Recognizing the importance of trade in national development, the Bangladeshi government has introduced a wide range of initiatives to support exporters, promote industrialization, and attract foreign direct investment (FDI).
3.1 Export-Friendly Policies and Trade Agreements
To help local exporters gain access to global markets, the government has pursued favorable trade agreements and preferential market access. Bangladesh currently enjoys duty-free or reduced-tariff access to 38 countries, including the European Union (under the Everything But Arms initiative), the United Kingdom, Canada, Australia, China, India, and several countries in Africa and Southeast Asia.
Additionally, Bangladesh has signed or is negotiating a number of bilateral and regional trade agreements, such as the South Asian Free Trade Area (SAFTA) and discussions around joining the Regional Comprehensive Economic Partnership (RCEP). These agreements reduce tariffs, simplify market entry, and improve export competitiveness.
3.2 Export Financing and Policy Support
To boost competitiveness and reduce financial constraints for exporters, the government has introduced several financial incentives and export financing schemes, including:
- Cash Incentives and Subsidies: Exporters in sectors beyond RMG such as IT, leather, pharmaceuticals, and agro-products are eligible for cash incentives ranging from 4% to 20%, depending on the product and market.
- Export Development Fund (EDF): Managed by the Bangladesh Bank, this fund provides low-interest loans in foreign currency to exporters for importing raw materials and capital machinery.
- Bonded Warehouse Facility: To reduce the cost of importing inputs for re-export, the National Board of Revenue (NBR) offers duty-free bonded warehousing to export-oriented industries.
In addition, digital platforms have been introduced to streamline customs clearance, VAT refunds, and export documentation, making cross-border trade more efficient.
3.3 Key Institutions Driving Export Growth
Several government bodies and agencies play a crucial role in fostering an export-friendly environment:
- Bangladesh Export Processing Zones Authority (BEPZA): BEPZA oversees the country’s Export Processing Zones (EPZs), which offer fiscal incentives, simplified regulations, and world-class infrastructure to export-oriented industries. EPZs collectively accounted for over USD 7 billion in exports in FY 2022–23 and have created hundreds of thousands of jobs.
- Bangladesh Investment Development Authority (BIDA): BIDA works as the central facilitator for both foreign and domestic investors. Its “One-Stop Service” platform provides streamlined services related to company registration, licensing, utility connections, and customs clearance significantly reducing bureaucratic delays.
- Export Promotion Bureau (EPB): The EPB is tasked with promoting Bangladeshi products abroad, organizing trade fairs, facilitating buyer-seller meets, and helping SMEs prepare for international markets.
3.4 Commitment to a Business-Friendly Ecosystem
The government has shown strong political will to enhance the ease of doing business and encourage foreign participation in Bangladesh’s economic growth. Ongoing reforms aim to reduce red tape, digitize business registration, and improve contract enforcement and infrastructure. Major projects like the Padma Bridge, Payra Seaport, and expansion of Dhaka and Chattogram airports are enhancing logistics and export connectivity.
Moreover, the development of 100 Economic Zones and 28 Hi-Tech Parks is expected to draw billions in FDI, further accelerating export-led industrialization. These zones offer tax holidays, repatriation of profits, and exemptions on customs duties for capital machinery and raw materials creating a highly attractive environment for both local and foreign investors.
4. Leveraging Global Trends: Sustainability and Innovation
As global markets become increasingly driven by ethical consumption, environmental consciousness, and digital transformation, Bangladesh is taking notable steps to align its export industries with these evolving trends. By embracing sustainability and innovation, the country is not only enhancing its global competitiveness but also building a future-proof industrial base capable of meeting the demands of next-generation consumers.
4.1 Sustainability: A New Benchmark for Export Manufacturing
Bangladesh’s export sector, particularly in garments and textiles, is undergoing a green transformation. Responding to growing international scrutiny over environmental and labor practices, many Bangladeshi manufacturers are leading the way in ethical sourcing, eco-friendly production, and waste reduction.
As of 2024, Bangladesh is home to the highest number of LEED-certified green garment factories in the world, with over 200 facilities certified by the U.S. Green Building Council—of which more than 50 are platinum-rated. These factories implement sustainable practices such as:
- Rainwater harvesting and water recycling
- Solar energy use
- Efficient waste management and emissions control
- Fair wages and safe working environments
Beyond garments, similar initiatives are being adopted in the leather, jute, and agro-processing industries, which are focusing on biodegradable materials and ethical supply chains to meet international compliance standards.
The government, along with industry associations like BGMEA (Bangladesh Garment Manufacturers and Exporters Association), has launched green financing schemes and sustainability roadmaps to support businesses in this transition.
4.2 Technology and Innovation: Driving the Next Wave of Growth
Bangladesh is also stepping into the era of Industry 4.0 by integrating automation, robotics, and digital technologies into its manufacturing processes. Large exporters and progressive SMEs are investing in:
- Automated cutting and sewing systems in apparel factories
- ERP (Enterprise Resource Planning) systems for real-time data and inventory control
- AI and machine learning in product design, quality control, and customer analytics
- IoT-enabled machinery for predictive maintenance and operational efficiency
In the pharmaceutical and IT sectors, innovation is driving product development and service delivery. Companies are adopting Good Manufacturing Practices (GMP) and building FDA-compliant facilities, while IT firms are offering AI-driven solutions, cloud computing, and cybersecurity services to clients abroad.
Meanwhile, government-backed Hi-Tech Parks are nurturing a growing ecosystem of tech entrepreneurs and startups focused on software development, health tech, fintech, and digital outsourcing. These initiatives not only increase export capability but also create high-skilled employment opportunities for the country’s youth.
4.3 Branding ‘Made in Bangladesh’: From Cost to Quality
In an increasingly brand-conscious global market, the success of exports now hinges on more than just price—it demands strong brand identity, transparency, and customer trust. For Bangladesh, repositioning the “Made in Bangladesh” label from a low-cost tag to a symbol of quality, responsibility, and innovation is critical.
Efforts are underway to support this branding push. Industry players are focusing on:
- Storytelling—emphasizing sustainable practices, worker welfare, and local craftsmanship
- Certification and traceability—adopting international quality and ethical certifications (e.g., OEKO-TEX, ISO, Fair Trade)
- Digital marketing and e-commerce—using platforms like Amazon, Alibaba, and Etsy to reach global consumers directly
- Participation in global trade fairs and exhibitions—to promote new product lines and forge international partnerships
Companies like Grameen Danone, Aarong, Apex, and Beximco have already developed strong brand identities, helping Bangladeshi products resonate with quality-conscious global buyers.
5. Investing in Bangladesh’s Future: A Call to Action
As Bangladesh continues its ascent in the global economy, the time is ripe for entrepreneurs, exporters, and investors to take a closer look at the vast opportunities this dynamic nation offers. With its strategic location, youthful workforce, rising manufacturing sophistication, and proactive government support, Bangladesh stands out as a compelling destination for export-led growth.
5.1 How Businesses Can Get Started
For those seeking to explore or expand their export operations in Bangladesh, here are some practical steps to begin the journey:
- Research Sector-Specific Opportunities: Conduct in-depth market analysis to identify product categories and export destinations where Bangladeshi goods have high demand—such as pharmaceuticals in Africa, IT services in Europe, or leather goods in North America.
- Engage with Key Trade Organizations: Connect with local institutions like the Export Promotion Bureau (EPB), Bangladesh Investment Development Authority (BIDA), and Bangladesh Export Processing Zones Authority (BEPZA) to understand policy incentives, investment zones, and export facilitation services.
- Visit Trade Fairs and B2B Platforms: Participate in global and regional trade expos, buyer-seller meets, and virtual marketplaces to build partnerships and understand buyer expectations.
- Leverage Government and Private Support Services: Access export financing, training programs, legal advisory, and supply chain development support offered by both government and private sector partners.
5.2 The Long-Term Promise of ‘Made in Bangladesh’
Choosing to invest in and export from Bangladesh is more than a smart business decision—it is a contribution to a broader vision of inclusive and sustainable global trade. The “Made in Bangladesh” label today stands for quality, affordability, ethical manufacturing, and innovation. Businesses that align with these values will not only thrive in a competitive market but also be part of shaping a more equitable economic future.
5.3 Connect with Trade & Investment Bangladesh (T&IB)
To make your entry into the Bangladeshi export ecosystem seamless, Trade & Investment Bangladesh (T&IB) offers a comprehensive suite of export support services tailored for both new and experienced exporters. From market intelligence to export documentation, business matchmaking, and investment facilitation—T&IB is your trusted partner in navigating the Bangladeshi export landscape.
📞 Call T&IB at +8801553676767
🌐 Visit: https://tradeandinvestmentbangladesh.com
5.4 Be Part of the Journey
Now is the moment to act. Whether you are a manufacturer seeking new markets, an investor looking for high-growth opportunities, or an entrepreneur eager to join a global value chain Bangladesh welcomes you. Explore the possibilities. Empower your business. Export with confidence. Let your success be Made in Bangladesh.
Closing Remarks:
As the global economy shifts toward resilience, sustainability, and innovation, Bangladesh is poised to become one of the defining success stories of the Global South. Its transformation from a garment-dominated exporter to a diversified, tech-savvy manufacturing hub is not just a narrative of progress but a blueprint for inclusive development and smart trade integration.
The “Made in Bangladesh” label is evolving, powered by world-class production standards, ethical labor practices, and bold investments in digital infrastructure and green industry. For businesses and investors, this is more than a market it’s a movement toward building a more responsible, equitable, and prosperous global economy.
Now is the time to be part of this momentum. Bangladesh invites the world to partner in its journey, explore new frontiers, and seize the rich potential waiting to be unlocked. Join the ranks of forward-thinking exporters and visionaries make your mark, and let your growth story proudly bear the stamp of Made in Bangladesh.