Govt sight set on markets in three S American countries

FE Report | Published: June 10, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Bangladesh wants to boost its trade with three new South American countries-Argentina, Peru and Uruguay-as part of its efforts to explore new destinations, officials have said.
According to them, the three countries are very potential export destinations for medicines, leather, apparels and home textiles.
The government has taken initiatives to diversify its exports aiming to maintain trade balances with different countries in the world. With that end in view, the ministry of commerce (MoC) has planned to send business delegations headed by the commerce minister to Argentina, Peru and Uruguay, relevant sources have said.
The business teams will go to the three countries as soon as possible. The representatives of the teams will comprise private sector entrepreneurs, according to them.
Representatives from the pharmaceutical, garment, leather, home textile, jute and jute goods and ICT (information and communication technology) sectors will be included in the missions.
The MoC and the Export Promotion Bureau- (EPB) have taken up the initiative with a view to increasing export of different products to the international market, especially Argentina, Peru and Uruguay, a senior official of the EPB said.
"The export markets for products from Bangladesh are limited. We need to search for new markets for exporting the goods," they said.
On the other hand, export items of the country are also limited. The EPB is taking many initiatives for addressing the existing weakness. The initiatives include exploration of overseas export markets and it is the main task.
The missions during their visit to those countries will highlight the export potential of Bangladesh and the existing opportunities on offer, according to the EPB.
The missions will also assess the scopes of export market expansion and trade cooperation and take necessary steps in this connection.
"The authorities concerned are working to this end. A preparatory meeting will be held at the EPB in this connection," an official of the MoC said.
Bangladesh's exports will rise by $3.0-5.0 billion a year, if the countries in Latin America offer duty-free access, industry insiders have said.