They also put emphasis on leather, frozen foods, raw jute and home textiles products to boost export.

They were speaking at the seminar on 'Export Diversification: Strategies and Imperatives' organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in Dhaka. Mohammad Shah Alam, member of Planning Commission, moderated the seminar.

Addressing the discussion, Privatisation Commission Chairman Abu Solaiman Chowdhury said experience reveals that the country's export needs to be diversified, not depending only on a few product range such as garments and traditional items.

"To survive in the global competition, diversification of product, market and method appears to be an indispensable strategy for us. Agro-processing, light engineering and leather products, shoe, pharmaceuticals and software have tremendous potential for export diversification," he said.

It is also necessary to look at markets beyond USA and Europe, the Privatisation Commission chairman said.

Export is suffering from lack of diversified products and proper concentration, FBCCI Director Abdur Razzak said, adding that the country should increase export items and destinations.

To diversify export items and create new markets, the FBCCI director suggested formulation and implementation of export diversification programmes, removal of procedural bottlenecks in export, and providing updated policy support for exporters.