Choosing Leadership for a Smarter Economy

The upcoming FBCCI election is not merely a matter of organizational politics; it is a defining moment for Bangladesh’s private sector and, by extension, its economic future. As the apex body representing business and industry, FBCCI sits at the intersection of government, trade, and enterprise. Its leadership directly influences policy advocacy, trade negotiations, and the creation of an enabling business environment. With Bangladesh’s economy now valued at over USD 460 billion and exports crossing USD 55 billion in FY 2023, the stakes of this election extend far beyond the chamber’s walls they touch every business, investor, and worker in the country.

At a time when Bangladesh faces multiple transitions graduation from LDC status by 2026, pressure to diversify beyond ready-made garments (which still account for nearly 84% of total exports), and a widening trade deficit of USD 20.4 billion in 2023 the need for strategic, visionary leadership has never been greater. The wrong choices may lock the economy into vulnerability, while the right leadership can position Bangladesh as a competitive hub in South Asia and beyond. Business leaders and members of FBCCI are therefore not only electing office bearers; they are determining who will guide the nation’s private sector through one of the most critical decades in its economic journey.

In today’s globalized and competitive environment, leadership is about foresight, diplomacy, and innovation. Trade wars, supply chain realignments, digital disruptions, and sustainability imperatives are reshaping global commerce. Chambers like FICCI in India or TOBB in Turkey demonstrate how proactive leadership can turn challenges into opportunities. For Bangladesh, the FBCCI election is thus a referendum on preparedness choosing leaders who can build a smarter economy, embrace digital transformation, strengthen global trade diplomacy, and ensure that the private sector remains the engine of growth on the road to a sustainable future.

2. The Role of Leadership in Economic Transformation

Leadership in a chamber like FBCCI goes far beyond ceremonial functions it is about shaping the policies that govern industries, the business climate in which enterprises operate, and the global positioning of Bangladesh as a competitive economy. When chamber leaders engage effectively with government, they influence fiscal measures, trade facilitation, and regulatory reforms that directly impact growth. For example, issues like export diversification, SME financing, and reducing non-tariff barriers require the chamber’s persistent advocacy. Strong leadership ensures that FBCCI becomes not only the “voice of business” but also the strategic partner of the state in building a resilient economy.

International experiences provide clear evidence of how leadership in apex chambers can transform entire economies. In India, the Federation of Indian Chambers of Commerce & Industry (FICCI) has been instrumental in driving reforms, championing digital India initiatives, and creating industry-specific councils that influence policymaking. Turkey’s Union of Chambers and Commodity Exchanges (TOBB) operates as a powerful bridge between the private sector and government, with a mandate that extends into vocational training, SME development, and international trade councils. Brazil’s Apex-Brasil has elevated the country’s global branding by organizing over 900 trade promotion activities annually, attracting billions in foreign direct investment while supporting exporters in more than 200 markets. These cases show that visionary chamber leadership can amplify national competitiveness on the world stage.

For Bangladesh, the lesson is clear: the next FBCCI leadership must not be confined to administrative duties but must act as a transformation agent. With exports heavily concentrated in a single sector and FDI inflows still below USD 4 billion annually, FBCCI leaders must pursue bold strategies establishing bilateral business forums, strengthening ties with emerging markets in Africa and Latin America, and spearheading digital and green transitions for industries. By learning from global peers like FICCI, TOBB, and Apex, FBCCI can reposition itself as a catalyst for economic transformation, ensuring that Bangladesh’s private sector is prepared not just for survival, but for leadership in the global economy.

3. Challenges Facing Bangladesh’s Private Sector

One of the most pressing challenges before Bangladesh’s private sector is the country’s impending graduation from Least Developed Country (LDC) status in 2026. While this transition signals progress, it also means the loss of preferential trade benefits such as duty-free and quota-free access in major markets like the EU. Studies suggest that Bangladesh could face an estimated export loss of USD 7 billion annually if corrective measures are not taken. The challenge for FBCCI leadership will be to negotiate favorable trade agreements, prepare industries for higher compliance standards, and strengthen competitiveness in a post-LDC environment.

Export diversification remains another persistent bottleneck. Currently, over 84% of Bangladesh’s exports are concentrated in the ready-made garment (RMG) sector, leaving the economy vulnerable to global demand fluctuations and buyer consolidation. Non-RMG sectors like leather, jute, light engineering, ICT, and agro-processing still underperform due to policy neglect, weak branding, and lack of access to finance. Without strong advocacy and coordinated action, Bangladesh risks remaining dependent on a single sector, limiting its ability to scale overall exports from USD 55 billion today to the government’s target of USD 100 billion by 2030.

The competitive pressures of globalization are also intensifying. Countries such as Vietnam, Cambodia, and Ethiopia are rapidly improving their ease of doing business, export ecosystems, and digital infrastructure. Bangladesh lags in areas such as logistics efficiency, where port congestion and customs delays raise trade costs. Moreover, the Fourth Industrial Revolution (4IR) is reshaping value chains with automation, artificial intelligence, and e-commerce. Unless Bangladesh accelerates its digital transformation, fosters innovation, and invests in skills for a knowledge-driven economy, it risks losing its competitive edge. The challenge is not just survival it is about ensuring that the private sector evolves into a smart, innovative, and globally connected engine of growth.

Choosing Leadership for a Smarter Economy

4. Qualities of the Right Leadership

The foundation of any successful chamber leadership is integrity, accountability, and the ability to deliver. FBCCI leaders must earn the trust of members by ensuring transparency in decision-making, publishing progress reports, and setting measurable goals. Without accountability, the chamber risks being seen as a political platform rather than the apex voice of business. In a federation representing more than 500 associations and chambers across Bangladesh, credibility becomes the first and most important asset of its leadership.

Equally important is evidence-based advocacy and policy shaping. The era of informal lobbying is over; governments and global partners increasingly rely on data-driven insights. Chambers like India’s FICCI and Turkey’s TOBB publish regular white papers, sectoral studies, and economic forecasts that shape national policy debates. For FBCCI, establishing a strong Policy & Research Wing can transform it from a reactive body into a proactive agenda-setter helping Bangladesh navigate challenges like post-LDC trade negotiations, tax reforms, and industrial diversification.

The right leadership must also embrace digitalization for smarter services. From online membership management and e-certification of origin to virtual trade fairs and grievance redress portals, digital transformation can make FBCCI faster, more accessible, and more transparent. With Bangladesh’s e-commerce market projected to reach USD 3 billion by 2025, and digital trade becoming central to global competitiveness, chamber services must reflect the realities of a digital economy. A leader who prioritizes technology adoption will empower both SMEs and large exporters to compete in a rapidly evolving marketplace.

Finally, the next FBCCI leadership must demonstrate strong diplomacy and international networking. In an interconnected world, chambers act as business ambassadors. By forging bilateral councils, hosting “Made in Bangladesh” expos, and strengthening South-South cooperation, FBCCI can position Bangladesh as a serious player in global trade. Brazil’s Apex, for example, has successfully expanded exports to over 200 markets by leveraging business diplomacy. Similarly, Bangladesh needs leaders who can confidently represent national interests abroad, build trust with investors, and open new market opportunities.

5. Choosing Smart Leadership: The Impact on Businesses

Smart leadership in FBCCI is not an abstract idea it has direct and tangible effects on SMEs, exporters, and investors. For small and medium enterprises, which contribute nearly 25% of Bangladesh’s GDP and employ about 7.8 million people, leadership that ensures access to affordable finance, training, and policy support can be transformative. Exporters, too, rely on FBCCI to advocate for simplified customs procedures, improved logistics, and favorable trade agreements, while investors both domestic and foreign look for stability, transparency, and a business-friendly environment. The right leadership can unlock this ecosystem, making growth more inclusive and sustainable.

The outcomes of strong chamber leadership can be measured in very practical terms: better access to finance through SME credit schemes and investment facilitation; smoother trade facilitation by pushing for digitized customs, bonded warehouse reforms, and modern ports; and stronger international branding of “Made in Bangladesh” across emerging markets. A forward-looking FBCCI can also ensure that members benefit from upcoming opportunities in IT services, agro-processing, light engineering, and green industries sectors that have potential to generate billions in new exports and create large-scale employment.

For members of FBCCI, leadership choices translate into their day-to-day business opportunities. A responsive leadership means fewer bureaucratic delays in certification, faster access to business information, and stronger representation in policy dialogues that affect taxation, energy, and trade policy. Conversely, weak leadership risks leaving members isolated, vulnerable to shifting global dynamics, and unheard by policymakers. In essence, when members cast their votes, they are choosing between “business as usual” and a smarter economy where every business, big or small, has the chance to grow, compete, and thrive.

6. The Roadmap to a Smarter Economy

A smarter economy begins with a Digital Chamber. FBCCI can no longer function with manual processes that frustrate members and slow down services. By introducing online membership registration, e-certification of origin, grievance redress portals, and member service dashboards, FBCCI can become a true e-Chamber. Countries like Singapore and India have already digitized chamber services, saving members both time and money while ensuring transparency. For Bangladesh, adopting such digital solutions would not only reduce bureaucratic inefficiencies but also strengthen investor confidence in doing business.

The second pillar is the Export-Ready 500 initiative an ambitious program to prepare at least 500 SMEs to enter and compete in new international markets. While RMG dominates the country’s exports, sectors such as ICT, agro-processing, leather goods, light engineering, and pharmaceuticals hold significant untapped potential. Through targeted training, quality certification, branding support, and matchmaking with foreign buyers, FBCCI can help diversify Bangladesh’s export basket. By doing so, SMEs would evolve from being domestic players into global contenders, ensuring that Bangladesh’s export base is resilient against sectoral shocks.

The third strategy is Global Outreach through large-scale trade diplomacy. FBCCI leadership must actively organize “Made in Bangladesh” expos in key global hubs, establish bilateral business forums with emerging economies, and coordinate high-level trade missions. Brazil’s Apex and Turkey’s TOBB are models of how chambers have turned themselves into engines of global trade promotion. If FBCCI embraces this role, it can open doors to new markets in Africa, Latin America, and Eastern Europe, while also deepening ties with South Asian neighbors. For exporters and investors, this means access to opportunities that extend far beyond traditional markets.

Finally, a Policy Research Unit is essential for shaping the future of Bangladesh’s business environment with data-driven advocacy. Instead of reacting to crises, FBCCI must proactively publish white papers, sectoral reports, and economic forecasts that guide government reforms and help businesses anticipate global shifts. Evidence-based advocacy will give FBCCI the credibility to influence critical issues such as taxation, LDC graduation, energy policy, and industrial transformation. A strong research backbone will ensure that the chamber speaks with authority and drives reforms that position Bangladesh for sustainable growth.

7. Call to Action: Members as Decision-Makers

The upcoming FBCCI election is more than a contest between candidates it is a referendum on the direction of Bangladesh’s private sector. Each member’s vote carries the weight of deciding whether the chamber will remain a reactive institution or evolve into a proactive driver of economic transformation. In a federation that represents more than 500 associations and chambers nationwide, the collective choice of members has the power to reshape how government, investors, and international partners perceive Bangladesh’s business community.

This election should therefore be framed as a decision between “business as usual” and “business transformation.” Business as usual means slow reforms, weak advocacy, and missed opportunities in global trade. Business transformation, on the other hand, means a smarter chamber digital services, diversified exports, global outreach, and data-driven policy shaping. The choice is not only about who will sit in FBCCI’s leadership chairs; it is about whether Bangladesh’s businesses will thrive in an era of rising global competition or risk falling behind.

Members must also remember that chamber leadership equals national economic leadership. The voices elected to FBCCI will be the ones negotiating with ministries, representing Bangladesh abroad, and shaping the future of industries. A strong, visionary leadership can unlock billions in exports, attract fresh investment, and create new opportunities for SMEs and entrepreneurs. By casting their votes wisely, members are not just deciding the fate of an institution they are influencing the trajectory of Bangladesh’s economy itself.

Business Consultant

8. Conclusion

As Bangladesh navigates the critical crossroads of LDC graduation, export diversification, and global competitiveness, the role of FBCCI leadership has never been more vital. The election is not merely an internal process it is the mechanism through which the private sector determines whether it will seize the opportunities of the future or remain confined to the limits of the past. Choosing the right leadership is directly tied to building a smarter economy, one that is digital, inclusive, globally connected, and prepared to lead Bangladesh toward sustainable future.

A stronger, smarter, and sustainable FBCCI requires integrity, innovation, and foresight. It calls for leaders who can transform challenges into opportunities, turn advocacy into influence, and make every member’s voice part of a collective national ambition. In the end, the power lies with the members their votes will decide the future of the chamber and, with it, the trajectory of Bangladesh’s private sector. “The leaders we choose today will define the economy we inherit tomorrow.”

Md. Joynal Abdin