Canadian cos to invest more

FE Report With Bangladesh's liberalised investment programme in the power and energy sector, further opportunities of Canadian investment are opening up in the power, oil and gas sectors in Bangladesh. Heather Cruden, high commissioner of Canada in Bangladesh disclosed this to the journalists in an interaction with the media in the city Tuesday. "Bombardier has sold several aircraft in the market. Bell Helicopters has renewed its interest in Bangladesh and have recently sold two helicopters. Export Development Canada (EDC) and Canadian Commercial Corporation (CCC) are exploring opportunities to work in large projects in Bangladesh," said a statement of the Canadian HC. Canada and Bangladesh's trade has grown dramatically in the last 3 4 years. The value of bilateral merchandise trade has more than doubled from US$628 million in 2006 to US$ 1.39 billion in 2010. In 2011, from January to August, total trade has grown to US 1. 11 billion, a 17 per cent increase from that same period in 2010. During this period, Canadian merchandise exports to Bangladesh was US$318 million, a 19 per cent decrease from that of last year and Bangladesh's export was US$798 million, a 52 per cent increase from that of last year. Bangladesh has become the second largest exporter of merchandise to Canada from South Asia, after India. Canada's main exports to Bangladesh include cereals, vegetables (pulses), oil seeds, iron and steel, wood pulp, electrical machinery and pharmaceutical products. Agri food was the leading export in 2010 accounting for over US$500 million. Canada's main merchandise imports from Bangladesh include woven apparel, knit apparel, miscellaneous textile articles, headgear, fish and seafood, plastics and footwear, more than 95 per cent of which are textile and textile-related products. In Bangladesh, Canadian companies have been active in the food grain, textile, IT and telecommunications, renewable energy, engineering and railway sectors. Canada's current trade and investment relationship with Bangladesh is well established and growing, focussing mainly in the textile sector.