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Taiwan looks for closer trade ties with Bangladesh

Bangladesh hosted Taiwan Textile Fair from November 23 to 24. The trade show was all about fabrics and accessories. The aim was to provide a unique opportunity for business matchmaking between top manufacturers and exporters of Bangladesh. Participating companies were looking at exploring the Bangladesh market.

Taiwanese manufacturers want to explore their business in Bangladesh. As of now they have no direct investment in the country but are planning to invest in future. In particular they are looking at the fabric business in Bangladesh. They want to find local business partners, distributors and buyers.

Bangladesh is the second largest South Asian partner of Taiwan. Bangladesh mainly exports garments, jute, leather, handicrafts, knit wear to Taiwan and imports textiles, electronics, steel, plastics, machines. As more Taiwanese companies set up manufacturing bases in Bangladesh, trade is likely to expand.

More than a dozen Taiwanese companies are operating in Bangladesh, most of them being in labor-intensive industries such as textiles and the production of electrical goods. Taiwan is sending business missions to Bangladesh from the electronics, machinery, auto parts and hardware industries.

Organised by the Taiwan Textile Federation and the Bureau of Foreign Trade, the event was supported by Bangladesh Knitwear Manufacturers and Exporters Association.