Bangladesh wants to boost exports to Asia. Removing non-tariff barriers, signing trade-friendly bilateral agreements and proper use of preferential trade deals can boost Bangladesh’s exports to the region. Bangladesh’s exports to Asian countries in fiscal 2016-17 were 12 per cent of its total exports. At the same time European Union imported 55.83 per cent of Bangladesh’s total exports and the United States 21.19 per cent.

For a developing country, Bangladesh has made remarkable progress as an exporter of manufactured goods, especially readymade garments, but it’s highly reliant on the markets of developed countries.

Since there is an economic meltdown in traditional export destinations like Europe and the US, Bangladesh will have to find new markets. Grabbing more Asian markets can help reduce dependency on developed countries. With similarities in culture and taste, the markets of some Asian nations can help Bangladesh boost its export sector. Asia’s population is 59.6 per cent of the global total.

Bangladeshi apparel products are sold in China, Japan, Indonesia and some other countries, but not all of that is exported directly. International buyers import from Bangladesh and then sell the products in these countries. Bangladesh hopes to do more exports to the Japanese and other South Asian markets in the near future.