Govt considers FTA deals to improve trade relations
23 Jan '08
1 min read
In order to enhance present economic condition and improve trade relations with neighbouring countries, the Bangladesh commerce ministry held a meeting with private sector players, early this month, where discussion regarding the expansion opportunities of bilateral trade was made.
Dr Mustafizur Rahman, Executive Director of Centre for Policy Dialogue (CPD), Dr Ananya Raihan, Executive Director of D-net, Selima Chowdhury Zahir, research fellow of BIDS and Dr Selim Raihan, associate professor of Dhaka University, represented the private sector.
Now, the Bangladeshi Government is contemplating a free trade agreement (FTA) with China its biggest trading partner and other countries like India, Pakistan and Sri Lanka, by improving the two-way trade with its major export markets.
The country imported products worth over US $2 billion during the 2006-07 fiscal year. Textile fabrics, capital machinery and dyeing chemicals were some of the major procurements from China.
Bangladesh's expenditure reached nearly $2 billion on purchases like iron products, vehicles and spare parts, and mineral products during the previous financial year.
The country shipped goods worth $93 million to China, and over $289 million to India in the same period.
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