Bangladesh wants investments to flow in from Canada. Out of Bangladesh’s exports to Canada, 95 per cent are garment items. Bilateral trade has been growing at a faster rate now, due to duty free market access. Canadian entrepreneurs are being encouraged to engage in trade, investment and technology transfer from Canada to Bangladesh.
If the trade facilities offered by Canada remain unchanged, Bangladesh’s exports to Canada will reach $3 billion by 2021. In enlarging its trade volume in the Canadian market, Bangladesh is planning to showcase its products especially leather and diversified jute products as there is a huge opportunity for growth.
Bangladesh and Canada may form a blue ribbon panel to explore possibilities of expanding trade and investment. The signing of a bilateral investment treaty between the two countries would go a long way toward increasing foreign direct investment from Canada to Bangladesh.
Sustainable economic growth, health, and education are the three areas Canada wants to work on in Bangladesh. The country is also working to strengthen garment worker safety in Bangladesh. Canada wants to expand in the services sector in Bangladesh, such as aircraft safety. Bangladesh’s textile products enjoy duty-free access to Canada.
Canada is a country of some 37 million people, with French and English as official languages. It is a leading as well as growing trading partner of Bangladesh, providing export opportunities.