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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.


Forging closer Canada-Bangladesh trade ties

Monday, July 24, 2017 > 11:40:55

The Financial Express

After my retirement from BIMAN Bangladesh Airlines as DC10 Flt Engineer (Cockpit crew), I flew from Bangladesh and landed in Canada. Over the past six years I and my family have become Canadians.

Canada is a wonderful country to live in peacefully and can help you broaden your knowledge base and share it with others. Canada is a vast country of only 35.2 million population. In contrast, Bangladesh measures 1/60th of the land area of Canada, but with a population of 150 million.

Probably, every body does not know what the relation is between Canada and Bangladesh. Canada established diplomatic relations with Bangladesh in 1972. Both countries are represented by respective High Commissions. Bilateral relation, multilateral cooperation and people to people links between Canada and Bangladesh are expanding. The Bangladesh-Canadian community is estimated at over 100,000 and continues to make significant contributions to Canadian prosperity and multicultural fabric.

Canada's commercial relationship with Bangladesh has grown dramatically over the last 10 years. Canadian merchandise exports to Bangladesh were $525 million in 2012. Merchandise imports from Bangladesh were $ 1.1 billion in 2012. Canada's main exports to Bangladesh include cereals, vegetables, iron and steel, oil seeds, fertilisers, machinery and electronic equipment. Agri-food export from Canada to Bangladesh is the leading sector.

The Canada-Bangladesh relationship is particularly important for the Province of Saskatchewan. Saskatchewan's exports (mainly wheat, fertilisers and pulses) to Bangladesh jumped from $49 million in 2003 to $279 million in 2012.

Bangladesh entrepreneurs can buy agricultural land in Saskatchewan and Manitoba Provinces at a cheaper rate (200 acres of land at the price of $200,000), can bring skilled workers, grow the products and export to Bangladesh. Besides these, they can raise cattle and sell the meat to the Canadian market. The market is ready to accept those products.

Canada's main merchandise imports from Bangladesh include knit apparel, woven apparel, headgear, fish and sea food, and footwear. Canada is a bright spot for Bangladeshi apparel.

We live in an increasingly globalised world. Information and telecommunication technology is the engine of the new Global Economy. Canada and Bangladesh have a bright future for cooperation in these areas.

One might wonder why this article is being penned. Will it in any way help the Bangladeshi community in Canada? Since we enjoy dual citizenship, why not we explore the idea of fostering closer ties between these two countries.

Canada is a vast country rich with natural resources. True enough, what people do not often realise is that this gift of geography has allowed us to hone our innovative talents to develop tremendous expertise in transportation, energy and power, oil and gas, and consultancy services.

Canadians have become builders of hydro-electric and thermal power plants and high voltage transmission lines.

Recently, I am selected to act as their consultant by a renowned digital marketing company in Canada. They hold big Global Business summits.

Entrepreneurs, investors and manufacturers come from all over the world to attend it. The main target of this company is to provide lead generation services for organisations looking for sales growth, investors, trade partnerships and sponsors or meeting with business leaders across the globe.

This biz to biz linkage between small and medium enterprises can provide a breakthrough in trade relation between Canada and Bangladesh. This will help cultivate closer economic relations between the two countries which we should work for and be proud of.

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