Home / Knowledge / News / Apparel/Garments / RMG key pillar of Canada-Bangla trade: Canadian envoy
RMG key pillar of Canada-Bangla trade: Canadian envoy
20
May '16
Courtesy: Dhaka Chamber of Commerce & Industry
Courtesy: Dhaka Chamber of Commerce & Industry
Canadian high commissioner to Bangladesh Benoit-Pierre Laramee has said that the garment sector is one of the key pillars of the relations between the two countries with many of the largest Canadian apparel retailers sourcing products from Bangladesh.

He was speaking at an event entitled 'Celebration of $2 billion worth of trade between Bangladesh and Canada in 2015' jointly hosted by CanCham Bangladesh and Canada in Dhaka on Thursday.

Businesses at the discussion stressed that diversifying products and export destinations are vital for Bangladesh to attain the target of $50 billion exports within 2021.

Laramme underscored the need for enhancing business to business linkage between the business communities of the small and medium enterprise of Canada and Bangladesh to make a breakthrough in their trade relation.

The Canadian envoy was optimistic that the trade volume would rise soon from $2 billion to $3 billion. “As Bangladesh develops, our bilateral relationship is shifting from aid to trade. Canada remains a significant provider of development assistance to Bangladesh, but increasingly this assistance is focused on strengthening Bangladesh's ability to compete in the global economy. The remarkable rise in our bilateral trade over the past 15 years shows that this shift is happening quickly.”

He said Canada wants to see more prosperity and development of Bangladesh's RMG sector and that his country would continue its assistance to Bangladesh's RMG sector to ensure workers' safety.

Canada contributes eight million Canadian dollars to the International Labour Organisation to help the Bangladesh government build its capacity to ensure that workplaces are safe.

Earlier this year, Canada joined the Sustainability Compact, which Bangladesh had signed with the EU after the Rana Plaza building collapse, committing to responsible business behaviour.

In his welcome address Hossain Khaled, President, Dhaka Chamber of Commerce and Industry (DCCI) said Canada is the 7th largest single market export destination of Bangladesh which has become possible due to continuous GSP facility extended to enhance our access to Canadian market during the last decade. He also pitched for more Canadian investment in Bangladesh.

“The export of Bangladesh to Canada is worth of $1.4 billion against the import of $0.6 billion. Despite Bangladesh and Canada enjoying healthy trade growth, Canadian investment in Bangladesh is still very insignificant,” he said. He also invited Canadian investors to invest in agriculture, jute, pharmaceuticals, ship-building, ICT and automotive sector of Bangladesh.

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Apparel/Garments | On 25th Mar 2017

Net sales at Christopher & Banks fall 10% in Q4

Net sales totalled $85.0 million for the fourth quarter ended January ...

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search