International Analysts Give Positive Assessment of Bangladesh’s Economy

Despite the global economic slowdown, climate risks and geopolitical challenges, Bangladesh continues to pursue sustainable growth and economic transformation. At the three-day international conference ‘Bay of Bengal Conversation 2026’ in Dhaka, diplomats, economists and policy analysts from Bangladesh and abroad gave positive assessments of the country’s economic prospects.

The discussions highlighted Bangladesh’s strategic geographic position, skilled workforce and efforts to expand international trade opportunities. Several experts said these factors could help Bangladesh move towards becoming one of the world’s leading economies.

Bangladesh’s ready-made garment and other industrial sectors remain major drivers of exports and sustainable growth. British High Commissioner to Bangladesh Sarah Cook said Bangladesh would continue to receive significant duty-free access to the UK market even after graduating from the Least Developed Country (LDC) category.

She said 92 percent of Bangladeshi products would receive duty-free access to the UK market after LDC graduation. Currently, 99.8 percent of Bangladeshi products enjoy duty-free access. This will remain unchanged during the three-year transition period after graduation, while most products, including garments, are expected to continue receiving the facility afterward.

The UK is also moving from a development-assistance-based approach towards a modern strategic partnership with Bangladesh. Cooperation on climate risks and the economic contribution of the large Bangladeshi diaspora in the UK are also strengthening ties between the two countries. The partnership extends beyond trade to technology transfer, education, research and innovation.

The European Union is also placing greater strategic importance on Bangladesh because of its position in South Asia and the Indo-Pacific. EU Ambassador Michael Miller said Bangladesh, located at the heart of the Bay of Bengal’s economic region, is one of the world’s dynamic economies and has the potential to become one of the world’s top 30 economies by 2030.

At a crucial time ahead of Bangladesh’s LDC graduation, the EU has proposed exploring the possibility of a free trade agreement (FTA) with Bangladesh. Miller also called for joint efforts to build an open, stable and globally competitive country.

He stressed the need to strengthen institutions, improve technological capacity and maintain global standards in politics and policymaking. The EU’s approach could create new economic opportunities for Bangladesh while strengthening the country’s international image and diplomatic position. It could also help Bangladesh become more deeply integrated into global supply chains.

Bangladesh has also set ambitious domestic economic targets. Prime Minister Tarique Rahman has expressed his determination to put the economy on a stronger foundation and has called for greater investment in technology, innovation, skills and productivity. He has set a long-term goal of turning Bangladesh into a $1 trillion economy by 2034. As part of this strategy, the government has set a target of creating 10 million new jobs by 2030.

Analysts believe job creation and higher productivity will be crucial to Bangladesh’s efforts to strengthen its position in the global economy and achieve the $1 trillion target. They said investment in technology and innovation, human resource development and infrastructure modernisation could help make the goal more achievable.

Center for Governance Studies (CGS) President Zillur Rahman highlighted Bangladesh’s potential to become an economic hub connecting South and Southeast Asia. He said Bangladesh could become one of Asia’s major economic drivers if it could properly combine the economic importance of the Bay of Bengal with maritime security.

Economist Dr Ahsan H Mansur stressed the need to reform the macroeconomic framework, strengthen discipline in the banking sector and increase the tax-to-GDP ratio. He said addressing structural weaknesses could make it realistic for Bangladesh to enter the list of the world’s top 30 economies by 2030. Former Bangladesh ambassador to the United States Mohammad Ziauddin also said Bangladesh could become the world’s 26th-largest economy by 2030 and one of the three fastest-growing economies globally.

International financial institutions and research organisations have also given positive assessments of Bangladesh’s economic prospects. Based on International Monetary Fund (IMF) data, economists and analysts estimate that Bangladesh’s GDP could reach $677 billion by 2030 if the current macroeconomic trend continues. Under this projection, Bangladesh would become the world’s 32nd-largest economy. Its GDP would also surpass those of Malaysia, projected at $672.5 billion, Vietnam at $667.5 billion and Thailand at $647.5 billion.

Economists and geopolitical analysts say Bangladesh’s economic prospects are receiving positive attention despite global challenges. Its strategic location, skilled workforce, growing investment and ongoing reforms could help the country become one of the world’s major economies over the next decade. They said sustained public-private partnerships, technological innovation and sound development strategies would be essential to turning these projections into reality.