SME foundation partners with BFTI

Business Desk :

The Bangladesh Foreign Trade Institute (BFTI) has signed a Memorandum of Understanding (MoU) with the SME Foundation to promote the growth and development of small and medium entrepreneurs in the country.

The MoU was signed at the SME Foundation office by Anwar Hossain Chowdhury, managing director of SME Foundation, and Dr Saif Uddin Ahammad, CEO of BFTI. SME Foundation Chairperson Md Mushfiqur Rahman, along with senior officials from both organisations, were also present.

Under the agreement, BFTI and SME Foundation will collaborate on several key areas, including trade facilitation for CMSME entrepreneurs, export diversification, joint research on preparing for LDC graduation, training and skill development, policy support, dialogue, and information sharing.

Md Mushfiqur Rahman said the partnership will help implement initiatives to boost exports of CMSME products. He highlighted that over 11.8 million CMSME entrepreneurs currently operate in Bangladesh, with 70 percent based outside Dhaka. Due to manpower limitations and the lack of regional offices, the foundation works with public and private organisations, local administrations, SME chamber associations, and NGOs to support entrepreneurs nationwide.

The SME Foundation has also supported entrepreneurs financially. Through credit wholesaling operations and government stimulus packages, over Tk 1,000 crore has been disbursed to around 11,000 entrepreneurs via partner banks and financial institutions, with women entrepreneurs making up 25 percent of the beneficiaries.

Currently, the SME sector contributes nearly 30 percent to Bangladesh’s economy, making such initiatives crucial for economic growth and entrepreneurship development.