Monday, May 06, 2024
Commerce Minister Tipu Munshi has sought cooperation with the United Kingdom (UK) in trade-related research and technical capacity building to diversify domestic products.
He made the call in a meeting with a delegation led by UK Minister for International Trade Nigel Huddleston MP at the capital’s Hotel Intercontinental on Thursday. Munshi also requested the UK delegation to consider importing products from Bangladesh.
The minister added, “Bangladesh is the 2nd largest RMG exporter, 3rd largest vegetable producer, 4th largest rice producer and 5th largest producer of inland freshwater fisheries in the world.
“Besides, many diversified products including high-quality drugs, generic drugs, unique jute products, leather products, home textiles, frozen food, ceramics, furniture, toys and electronic products are being produced here.”
He pointed out that the UK is the 3rd largest export destination of Bangladesh in FY23, adding that Bangladesh exported goods worth $5.31 billion and imported products worth $450 million from the United Kingdom.
He added that there is a huge scope for improving trade, investment and economic relations between these two countries, and emphasised working together to elevate the financial and trade relations to new heights while keeping mutual interests intact.
Munshi also urged the UK government to invest in special economic zones of the country as country-wise separate economic zones are being allocated to increase foreign investment.
The visiting UK Minister for International Trade Nigel Huddleston MP expressed his interest in cooperation in the fields of aviation, education and defence as well as trade in Bangladesh.
Referring to the excellent relations between Bangladesh and the United Kingdom, the minister said the trade relations between the two countries are gradually increasing. Apart from ready-made garments, there is a huge market for Bangladeshi products in the UK.
