Bangladesh's exports to Canada may reach US $3.0 billion by 2021 if the trade facilities offered by the North American country remain in place, Commerce Minister Tofail Ahmed said on Sunday.
"We are hopeful to earn $3.0 billion from export to Canada by 2021, if the country continues to enjoy the duty-free access facility," he said at the inaugural ceremony of an education and trade fair titled 'Showcase Canada 2018' at the International Convention City Bashundhara (ICCB) in the capital.
The Canada Bangladesh Chamber of Commerce and Industry (CanCham Bangladesh) organised the two-day fair with support from the High Commission of Canada, aiming to strengthen the trade relations between the two countries.
The minister said, "We are extremely happy and grateful to the Canadian government for awarding us duty-free and quota-free access facility for all Bangladeshi products since 2003."
He said the bilateral trade between the two countries was $1.7 billion in 2017, which was in favour of Bangladesh.
"Bangladesh exported over $1.10 billion worth of goods to Canada. On the other hand, it imported around $600 million from the North American country," he added.
In his speech, Tofail Ahmed called on the Bangladeshi businessmen to diversify export items, including leather and leather goods, jute products, textiles, frozen foods and software services.
At present, the readymade garment is the main export item to Canada from Bangladesh.
Mentioning various investment facilities in Bangladesh, the minister urged Canadian businessmen to invest more in the country.
Benoit Préfontaine, High Commissioner of Canada in Dhaka, David Hartman, Director General for South Asia, Global Affairs of Canada, and CanCham Bangladesh officials attended the ceremony.
According to the fair organisers, the fair will remain open for the visitors from 10:30am to 8:00pm today (Monday).
More than 30 organisations relating to finance, education, manufacturing, consumer goods and garment from both Canada and Bangladesh have joined the fair.
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