Economic Reporter :
Commerce Minister Tofail Ahmed said that, Bangladesh has a huge opportunity to increase exports to New Zealand as it offers duty free market access for all Bangladeshi products.
The minister came up with the remarks after holding a meeting with New Zealand Ambassador Grahame Mrton at his secretariat office on Wednesday.
“Since New Zealand offers duty free market access for all Bangladeshi products and manufacturers especially apparel products, pharmaceutical and leather, we can utilise the opportunity and expand our export,” said Tofail Ahmed.
In the seventh five-year plan, Bangladesh has given importance on market and product diversification and New Zealand would be in the priority chart, said the minister.
“We will take necessary steps to lessen the trade gap,” he added.
According to Export Promotion Bureau (EPB), in the fiscal year 2015-16, Bangladesh exports to New Zealand stood at $73.63 million, which is 47.28 percent higher compared to last year’s $50 million.
On the other hand, Bangladesh imported goods of $150.40 million in the same period.
“Dairy products are an important part in trade relation between Bangladesh and New Zealand,” said Grahame Mrton.
In the last five year, trade between the two countries has doubled to $224 million and is expected to double in the next five years, the envoy said.
Commerce Minister Tofail Ahmed said that, Bangladesh has a huge opportunity to increase exports to New Zealand as it offers duty free market access for all Bangladeshi products.
The minister came up with the remarks after holding a meeting with New Zealand Ambassador Grahame Mrton at his secretariat office on Wednesday.
“Since New Zealand offers duty free market access for all Bangladeshi products and manufacturers especially apparel products, pharmaceutical and leather, we can utilise the opportunity and expand our export,” said Tofail Ahmed.
In the seventh five-year plan, Bangladesh has given importance on market and product diversification and New Zealand would be in the priority chart, said the minister.
“We will take necessary steps to lessen the trade gap,” he added.
According to Export Promotion Bureau (EPB), in the fiscal year 2015-16, Bangladesh exports to New Zealand stood at $73.63 million, which is 47.28 percent higher compared to last year’s $50 million.
On the other hand, Bangladesh imported goods of $150.40 million in the same period.
“Dairy products are an important part in trade relation between Bangladesh and New Zealand,” said Grahame Mrton.
In the last five year, trade between the two countries has doubled to $224 million and is expected to double in the next five years, the envoy said.
