WASHINGTON: The government has taken measures to increase exports to Belgium including regular exchange of trade information and frequent visit by businessmen and officials of the two countries. The move came following the existing potential of trade and investment between the two countries.
The ministry of commerce (MoC) has directed the country’s foreign missions (commercial councillors) to increase exports to Belgium and the EU through diversification of products. As part of the move, Bangladesh Ambassador to Belgium Shahdat Hossain had meeting with the senior secretary of the MoC last week in the capital on enhancement of bilateral trade and investment between Bangladesh and Belgium and the EU.
The importers of Belgium could import Bangladeshi products at zero rate of duty which can ultimately increase the volume of export from Bangladesh to Belgium. “There are huge opportunities for boosting our exports to Belgium. We have taken measures to diversify our products in Belgium and other EU member countries,” Mr Hossain told the FE last week in Dhaka.
There is still ample opportunity for enhancing exports to Belgium and the EU, he said, adding that exchange of trade delegation both at private and government levels should be encouraged for exploring new avenues for business and investment between the two countries. The envoy said they would seek cooperation from the Belgian government in enhancing the capability for improving sanitary and phyto-sanitary measures.
“We would request Belgian businessmen to import more items like bicycle, ready-made garment (RMG), home textile, ceramic tableware and jute and jute goods from Bangladesh,” Mr Hossain said. He said initiatives are underway to make a good rapport between the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Belgium Chamber of Commerce.
Belgium is one of the major importers of Bangladeshi products. The headquarters of the EU is located in Brussels, the capital of Belgium. The economy of Belgium is strong and it has developed transport network, diversified industrial and commercial base. Major items exported to Belgium from Bangladesh include knitwear, woven garments, shrimp, jute and jute goods, home textile, terry towel, ceramic tableware and pharmaceuticals. Bangladesh imports nuclear reactors, boilers, machinery and mechanical appliances, iron, steel and organic chemical from Belgium. Bangladesh exported goods worth US$ 903.41 million while imported goods worth $ 126.20 million during the July-May period in the fiscal year 2015-16, according to the MoC.
