Business Desk :
Bangladesh-France economic relations have been affected in 2020 by the Covid-19 pandemic as the bilateral trade contracted for the first time in years and came down to 2.76 billion Euros showing a 15 per cent decrease compared to 2019.
Fueled mainly by the RMG sector and some leather products, which represent 98 per cent of French imports from Bangladesh, the total value of imports decreased by 15 per cent in a year to reach 2.52 billion Euros in 2020, said an official of the French Embassy in Dhaka.
However, France remains one of Bangladesh’s largest export markets, and its third customer in the European Union, all products considered.
Unfortunately, French exports to Bangladesh decreased by 12 per cent compared to 2019, amounting to 238 million Euros. French exports are boosted by electrical machinery and industrial equipment, such as gas turbines and equipment manufactured by General Electric in Belfort, France.
“Consequently, our bilateral deficit which registered a threefold increase in the past ten years, came down to 2.23 billion Euros last year. To reduce the huge trade deficit we are facing, France is eager to put its world acclaimed know-how and experience at the service of Bangladesh and its people, especially in the sectors where our companies’ excellence is proven worldwide,” said the embassy.
“Hence, we follow with a keen interest development in such sectors as power generation (including renewable energy), rail transportation, water treatment and all environment related issues,” it added.
Few events have marked Year 2020, due to Covid-19, which forced the unfortunate cancellation last April of a visit by Medef International, the French equivalent to FBCCI.
The individual strength of both France and Bangladesh are to be amply utilised and shared in order to consolidate the mutual economic and social benefits. France and its companies are committed to develop their action and establish partnerships which would allow Bangladesh to reach its ambitious economic targets.
