Dhaka, Bangladesh (BBN)- The bilateral trade between Canada and Bangladesh will reach US$ 2.0 billion in near future, Commerce Minister Muhammad Faruk Khan said on Sunday.
“Canada has so far invested about $ 300 million in different sectors of Bangladesh. I call upon the Canadian companies to invest more in our power sector,” the minister said while inaugurating the day-long Canada Showcase, first-ever solo Canadian trade exhibition in the country, at the Bangabandhu International Conference Centre (BICC) in Dhaka.
Canada-Bangladesh Chamber of Commerce and Industry (CanCham) and the Canadian High Commission have jointly organized the program.
Robert McDougall, the High Commissioner of Canada and Masud Rahman, president of CanCham, were also present. A total of 25 different companies participated in the event.
The showcase included exhibition booths, presentations on the Canadian trade sector and a seminar on education in Canada.
Canada Showcase 2011 was targeted at fostering further growth and diversification of an already vibrant trade and investment relationship.
It is to be mentioned that during the 2009-10 fiscal the bilateral trade between the two countries reached $ 1.4 billion. The balance of trade is in favour of Bangladesh.
Bangladesh is the second largest exporter among the countries in South Asia.
Bangladesh mainly exports to Canada garment items, tent, frozen foods, ceramic products, jute goods, terry towel, handicrafts and footwear etc. Agricultural products such as wheat and lentil are among the items that Bangladesh imports from Canada.
BBN/SSR/AD-20Feb11-9:27 pm (BST)