Bangladesh : Single country trade shows helps bridge trade gap

Single country trade shows can help narrow the trade gap

between Bangladesh and Australia, said commerce minister

at a meeting in Dhaka yesterday.

Held in Sydney betweeen April 6 and 10 this year, the

trade show saw significant number of Bangladeshi companies

sign business deals with Australian firms, said Altaf

Hossain Choudhury.

The commerce minister was speaking at the first luncheon

meeting of the Australia-Bangladesh Chamber of Commerce

and Industry (ABCCI) at Dhaka Sheraton Hotel.

A total of 53 companies participated in Sydney fair where

they displayed readymade garments, knitwear, hand textile,

leather goods, footwear, jute goods, handicrafts, sarees,

jewellery, ceramic products, frozen foods, toiletries,

kitchenware and software.

According to Export Promotion Bureau (EPB), currently the

trade figure is heavily tilted in favour of Australia,

which exported products worth $220 million to Bangladesh

in 2002-03 against imports valued at $36 million.

The Ministry of Commerce, Australian High Commission in

Dhaka and the business houses dealing with Australia

jointly formed the ABCCI in January this year with a view

to strengthening the bilateral trade relations between the

two countries.

The commerce minister also urged Bangladeshi entrepreneurs

to increase their business with Australia by taking duty

and quota-free facilities offered by the country. "The

rules of origin are also very much relaxed in Australia."

However, EPB statistics show that Bangladeshi

entrepreneurs have failed to reap benefits from duty and

quota-free facilities as export to Australia decreased by

17 percent in 2003-04.

According to EPB, Bangladesh exported goods worth

$3,05,86,000 to Australia in 2003-04.

Taking part at the discussion, Australian High

Commissioner in Dhaka Lorraine Barker hoped Bangladesh can

increase its export volumes to Australia by utilising the

trade facilities offered by her country.

ABCCI President Klaus Gohra said the chamber will

regularly hold luncheon meetings to discuss problems and

prospects of doing business in both the countries.

Garments, leather, jute goods, ceramics, handicrafts and

frozen foods are the major items exported from Bangladesh

to Australia while Bangladesh imports pulses, oilseeds,

oil, medicine and other products from the Pacific country.