Gender equality, financial inclusion boost sustainable economic growth: Speakers

Eliminating gender discrimination by ensuring equality in opportunities in the corporate value chains can be catalytic for a resilient and sustainable business in Bangladesh, said speakers at a webinar recently.  

Despite improvements over the last decade, the gender gaps and lack of access to the economic opportunities remain vast in the country. Investing in demand-driven capacity building initiatives for women in business can stimulate an inclusive and sustainable economic growth in the country, reads a press release.

Speakers made the observation at the webinar recently organised by WEConnect International in Bangladesh. The webinar aimed to provide awareness among 75 women-owned businesses on the need to leverage the global trade and export sector. The event, organised in partnership with the Export Promotion Bureau of the Government of Bangladesh, was also attended by policymakers, development agencies, funding partners and many inspiring women business owners representing diverse industry sectors.

The webinar was presented by Abu Mukhles Alamgir Hossain, director, Export Promotion Bureau (EPB), Ministry of Commerce, Government of Bangladesh.  He highlighted the measures being taken by the apex body to boost export trade including government incentives and schemes, as well as a special subsidy created only for potential exporters, particularly for women-owned businesses.

The event was delivered as part of the "Women's Empowerment Through Economic Inclusion" project funded by the US Department of State's Bureau of South and Central Asian Affairs. The aim of the initiative is to enable the Bangladeshi women-owned businesses to network with the global buyers around the world to support enhance their business opportunities. As of end May 2022, this global initiative has been able to register more than 600 women-owned businesses from Bangladesh including financial institutions like Bank Asia, Brac Bank, The City Bank, IDLC Finance and IPDC Finance.

"The network created by WEConnect International has shown a great example of the potentiality of economic development in the country. The engagement and the direct market linkage between women-owned businesses and the international market supported by the initiative is noteworthy," said Abu Mukhles Alamgir Hossain, director, Export Promotion Bureau (EPB).

Charles Pritchard, Sr Programme Manager of the US Department of States (Bureau of South and Central Asian Affairs) delivered the keynote at the webinar.

"Investing in women is good for economies, communities, and global peace and security.  For this reason, the United States works thoroughly to elevate gender in our diplomatic engagement across the region, and strongly supports the efforts under this grant to support women's economic empowerment in Bangladesh, and throughout the greater South Asia region," said Charles Pritchard.

An interactive session with speakers addressed a range of questions from participants that centred around government support, opportunities in the global supply chain and the need for more capacity-building sessions and awareness for women-owned businesses.