Dhaka, Bangladesh (BBN)- Five companies from Bangladesh are participating in the 3rd largest IT fair of the world — Gulf Information Technology Exhibition (GITEX) popularly know as GITEX Technology Week.

Prime Minister, Vice President and Ruler of Dubai Sheikh Mohammad bin Rashid Al Maktoum inaugurated the fair at the Dubai International Convention and Exhibition Centre on Sunday.

the size of the IT market excluding telecom in Bangladesh is estimated to be US$300 million in total; of which the software and ITES industries share 39 per cent (US$117 million), The Financial Express, the country’s lone financial daily, reported quoting industry insiders.

There are close to 500 software and ITES companies in Bangladesh, employing over 12,000 ICT professionals.

The country witnessed a whopping 620 per cent growth of export in the ICET sector in the last five years which now stands to US$ 26 million, according to the newspaper reports.

Bangladesh is continuing its efforts to increase export volumes and diversify export products. Export of software, information and communication (ICT) related products and services are experiencing tremendous growth.

Bangladesh has already emerged as a preferred global outsource destination, a press statement issued from the office of Consulate General of Bangladesh government in Dubai said.

By taking strategic advantage of Dubai as regional hub, participants from Bangladesh are upbeat about finding opportunities to market their products and services not only in the UAE but also in the Middle East and North Africa (MENA) region.

Apart from Export Promotion Bureau, the participating companies from Bangladesh are ATI Limited, Bangladesh Internet Press Ltd (Software), Databiz Inc (inventory and accounting software (Highlights), Databiz Restaura, University and School Management Software, Online Library Management Software, Divine IT Limited and Leadsoft Bangladesh Limited.

BBN/SI/SS/AD-21October08-10:03 AM (BST)