Dhaka, Saskatchewan ink MoU to boost trade
Tuesday, 15 March 2011
FE Report
Bangladesh and the Saskatchewan province of Canada reached a memorandum of understanding (MoU) Monday in a bid to promote bilateral trade and commerce. Mr Lionel LaBelle, president of Saskatchewan Trade and Export Partnership (STEP) and Brigadier General Sarwar Jahan Talukder, chairman of the Trading Corporation of Bangladesh (TCB), signed the MoU on behalf of their respective sides at the conference room of the commerce ministry. Commerce minister Muhammad Faruk Khan, premier of Saskatchewan province Brad Wall, commerce secretary Md Ghulam Hussain, deputy minister for premier of Saskatchewan province Douglas Moen, Canadian high commissioner Robert McDougal and Bangladeshi high commissioner to Canada Yakub Ali were also present on the occasion. After the signing, the commerce minister said, as per the agreement, the Saskatchewan province will supply lentil (masur) to TCB and other private organisations with competitive prices. "The bilateral trade between Bangladesh and Canada is excellent. Bangladesh exports goods to Canada worth $1.0 billion and imports supplies of $200 to $300 million annually," said the commerce minister. "Canada will also extend support in conducting research to develop the local variety of lentil," Faruk added. The agreement will remain in force initially for two years and it will have an automatic renewal after the expiry of the period. The businessmen of the two countries can share the latest information on their respective markets. TCB and STEP will visit the joint venture industries to strengthen the bilateral trade. Bangladesh needs about 1.5 million tonnes of lentil per year, but it can produce only 0.3 million tonnes. The country meets its lentil demand through import mainly from Canada.
Bangladesh and the Saskatchewan province of Canada reached a memorandum of understanding (MoU) Monday in a bid to promote bilateral trade and commerce. Mr Lionel LaBelle, president of Saskatchewan Trade and Export Partnership (STEP) and Brigadier General Sarwar Jahan Talukder, chairman of the Trading Corporation of Bangladesh (TCB), signed the MoU on behalf of their respective sides at the conference room of the commerce ministry. Commerce minister Muhammad Faruk Khan, premier of Saskatchewan province Brad Wall, commerce secretary Md Ghulam Hussain, deputy minister for premier of Saskatchewan province Douglas Moen, Canadian high commissioner Robert McDougal and Bangladeshi high commissioner to Canada Yakub Ali were also present on the occasion. After the signing, the commerce minister said, as per the agreement, the Saskatchewan province will supply lentil (masur) to TCB and other private organisations with competitive prices. "The bilateral trade between Bangladesh and Canada is excellent. Bangladesh exports goods to Canada worth $1.0 billion and imports supplies of $200 to $300 million annually," said the commerce minister. "Canada will also extend support in conducting research to develop the local variety of lentil," Faruk added. The agreement will remain in force initially for two years and it will have an automatic renewal after the expiry of the period. The businessmen of the two countries can share the latest information on their respective markets. TCB and STEP will visit the joint venture industries to strengthen the bilateral trade. Bangladesh needs about 1.5 million tonnes of lentil per year, but it can produce only 0.3 million tonnes. The country meets its lentil demand through import mainly from Canada.