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Business team to explore Latin American markets
19-member delegation begins tour from Feb 16
Published : Tuesday, 12 February 2013
FE Report
A business delegation, comprising industrialists and trade officials from different sectors, will visit three potential Latin American countries from February 16 to 28 seeking opportunities to grab a share of the vast market in the growing economies.
Brazil, Chile and Columbia are the three countries to be visited by the delegation members as two-way trade of Bangladesh with these countries is now negligible, a trade official said.
A number of trade agreements are expected to be signed between Bangladesh and the countries to be visited, he added.
The 19-member delegation will be led by commerce secretary Mahbub Ahmed. Exporters, importers and industrialists representing sectors like textiles, readymade garments, pharmaceuticals, knitwear and jute have been included in the fact-finding trade mission.
"Our target is to explore BRIC (Brazil, Russia, India and China) countries in an effort to diversify our export products and destinations," Mahbub Ahmed told the FE on Monday.
The Latin American economies are now growing at a fast pace and Bangladesh would put in its efforts to grab a sizeable share of their markets. Our apparel, jute and pharmaceuticals have earned global eminence for their unbeatable quality and price, the commerce secretary added.
He said, a Memorandum of Understanding between the Export Promotion Centre of Chile and Export Promotion Bureau (EPB) of Bangladesh will be signed during the visit.
"We are also working to sign agreements with Brazil and Columbia to bolster our trade relations," Mahbub said.
The economy of Brazil is the world's sixth largest in terms of Gross Domestic Product (GDP). Brazil has moderately free market inward-oriented economy. Its economy is the largest in Latin America. The export earnings of Brazil in 2011 were $256 billion.
Bangladesh exported goods worth $156.52 million in 2011-2012 fiscal year to Brazil against its import worth $1.17 billion from the country during the same period.
Sugar, paper and paper board, textile machinery are some of the major items generally imported by Bangladesh from Brazil, while the country's narrow export basket for the Latin American country include apparel, jute and pharmaceuticals, EPB officials said.
The export earnings from Chile in 2011-2012 were to the tune of $ 66.28 million for Bangladesh, against its import worth $54.28 million during the same period.
As part of export diversification, some leather and leather goods exporters recently visited China, Hong Kong, Japan and Russia.
Bangladesh's export of leather and leather goods is now mainly dependent on the USA and the European Union countries.
Besides, another delegation of apparel and fabrics exporters visited Singapore in December last year to attend the 'Asian International Apparel Sourcing Show 2012' where they had interactions with importers from various countries.
Apparel, jute and jute goods, frozen foods, leather and leather goods, pharmaceuticals, tea, and handicrafts are major Bangladeshi export items. In fiscal year 2011-12, exports fetched Bangladesh US$24.30 billion. The USA, the EU, and Japan are the major Bangladeshi export destinations.
Financial Express :: Financial Newspaper of Bangladesh
@UKBengali @CaPtAiN_pLaNeT @iajdani and all other Bangladeshi nationalists.
19-member delegation begins tour from Feb 16
Published : Tuesday, 12 February 2013
FE Report
A business delegation, comprising industrialists and trade officials from different sectors, will visit three potential Latin American countries from February 16 to 28 seeking opportunities to grab a share of the vast market in the growing economies.
Brazil, Chile and Columbia are the three countries to be visited by the delegation members as two-way trade of Bangladesh with these countries is now negligible, a trade official said.
A number of trade agreements are expected to be signed between Bangladesh and the countries to be visited, he added.
The 19-member delegation will be led by commerce secretary Mahbub Ahmed. Exporters, importers and industrialists representing sectors like textiles, readymade garments, pharmaceuticals, knitwear and jute have been included in the fact-finding trade mission.
"Our target is to explore BRIC (Brazil, Russia, India and China) countries in an effort to diversify our export products and destinations," Mahbub Ahmed told the FE on Monday.
The Latin American economies are now growing at a fast pace and Bangladesh would put in its efforts to grab a sizeable share of their markets. Our apparel, jute and pharmaceuticals have earned global eminence for their unbeatable quality and price, the commerce secretary added.
He said, a Memorandum of Understanding between the Export Promotion Centre of Chile and Export Promotion Bureau (EPB) of Bangladesh will be signed during the visit.
"We are also working to sign agreements with Brazil and Columbia to bolster our trade relations," Mahbub said.
The economy of Brazil is the world's sixth largest in terms of Gross Domestic Product (GDP). Brazil has moderately free market inward-oriented economy. Its economy is the largest in Latin America. The export earnings of Brazil in 2011 were $256 billion.
Bangladesh exported goods worth $156.52 million in 2011-2012 fiscal year to Brazil against its import worth $1.17 billion from the country during the same period.
Sugar, paper and paper board, textile machinery are some of the major items generally imported by Bangladesh from Brazil, while the country's narrow export basket for the Latin American country include apparel, jute and pharmaceuticals, EPB officials said.
The export earnings from Chile in 2011-2012 were to the tune of $ 66.28 million for Bangladesh, against its import worth $54.28 million during the same period.
As part of export diversification, some leather and leather goods exporters recently visited China, Hong Kong, Japan and Russia.
Bangladesh's export of leather and leather goods is now mainly dependent on the USA and the European Union countries.
Besides, another delegation of apparel and fabrics exporters visited Singapore in December last year to attend the 'Asian International Apparel Sourcing Show 2012' where they had interactions with importers from various countries.
Apparel, jute and jute goods, frozen foods, leather and leather goods, pharmaceuticals, tea, and handicrafts are major Bangladeshi export items. In fiscal year 2011-12, exports fetched Bangladesh US$24.30 billion. The USA, the EU, and Japan are the major Bangladeshi export destinations.
Financial Express :: Financial Newspaper of Bangladesh
@UKBengali @CaPtAiN_pLaNeT @iajdani and all other Bangladeshi nationalists.
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