Dhaka, June 3 -- In the globalised economy, the countries that have risen fastest and sustained growth longest are those that embraced exports. The 2008 World Bank Growth Report is unequivocal: countries with outward-oriented policies consistently outperformed those looking inward. For Bangladesh, a country that has made notable economic strides in recent decades, expanding and diversifying its exports is not just a policy option-it is an economic imperative.

While Bangladesh has made significant strides in its export growth over the past 50 years, there are alarming signs of decline. The export-to-GDP ratio has dropped from 20 per cent in 2010 to about 10 per cent in 2020, indicating a loss of trade competitiveness. This is a critical i...