responsible business conduct is no longer an optional matter, but has become a crucial factor in ensuring competitiveness in international trade, attracting investment and securing market access.
He made the remarks while addressing a national dialogue titled “Responsible Business Conduct for Resilient Supply Chains and Trade Competitiveness” held at a local hotel in Dhaka.
The minister said Bangladesh is entering a new phase amid rapidly changing global trade and investment realities. He noted that the country has achieved significant economic progress through strong export growth, industrialisation, entrepreneurship development and resilience against various challenges.
He said the ready-made garment sector, in particular, has played a vital role in employment generation, poverty reduction, women’s empowerment and overall economic growth.
Khandakar Abdul Muktadir said Bangladesh is preparing for graduation from the least developed country (LDC) category and that future competitiveness would no longer depend solely on production costs. Instead, it would increasingly rely on sustainable development, transparency, labour standards, environmental responsibility and responsible business practices.
He said international buyers, investors, regulatory bodies and consumers are now placing greater importance on environmental, social and governance (ESG) standards and due diligence processes across every stage of supply chains.
“New sustainability-related regulations and expectations are increasing in international markets, directly affecting global supply systems,” he said.
The minister added that businesses are now expected to ensure workplace safety, efficient resource utilisation, good governance and climate and sustainability reporting.
He said strengthening responsible business practices in industrial establishments would increase the confidence of international buyers and investors while helping Bangladesh establish itself as a responsible and competitive sourcing destination.
“This will enhance access to high-value and emerging markets, attract sustainable and quality investment, and strengthen supply chain resilience,” he added.
Highlighting the government’s commitment to sustainable, inclusive and responsible economic growth, the minister said the Ministry of Commerce recognises the importance of policy coordination and strengthening institutional frameworks related to responsible business conduct.
He said Bangladesh has already made significant progress in collecting and compiling data on green industrial practices, sustainability reporting initiatives and environmental and social compliance activities.
Khandakar Abdul Muktadir further said the government’s initiative to establish an institutional framework on responsible business conduct under the Ministry of Commerce reflects its commitment to promoting sustainable trade practices.
According to him, such a platform would strengthen coordination among ministries, regulatory bodies, the private sector and development partners, while also supporting policy guidance, awareness-building and capacity development.
