Bangladesh trade reaches $50mln with Bahrain

Exports from Bangladesh were mostly consumer items while Bahrain exports included aluminium and petroleum products

  

Bilateral trade between Bahrain and Bangladesh (2019 to 2020) reached $50 million.

However, Bangladesh Ambassador Dr Mohammed Nazrul Islam said there was scope for more and he had some plans.

“Bilateral trade between the two countries has not been that much and reached about $50m,” he said.

“Exports from Bangladesh were mostly consumer items while Bahrain exports included aluminium and petroleum products.”

He said he was keen to see Bangladeshi manufactured garment outlets opening in Bahrain, and was also in talks with a ceramics company to start their operations here.

The South Asian nation is the world’s second-largest exporter of readymade clothes, after China, shipping about $34 billion worth of clothes in 2019 before the Covid-19 crisis.

“I am working on different projects such as pharmaceuticals, ceramics and renewable energy to boost trade between the two nations.

“Our economic credentials are solid with a reserve of $43bn, and our remittances are more than $20bn … so why can’t a Bangladesh bank open a branch in Bahrain?”

Dr Islam pointed out that the UN last month elevated Bangladesh from the category of Least Developed Country (LDC) to a developing nation as it fulfilled the criteria in terms of per capita income, human assets and other factors.

Bangladesh is scheduled to officially become a developing country in 2026 as the UN committee recommended that the country should get five years, instead of three, to prepare for the transition due to the impact of the Covid-19 on its economy.

On the tourism front, the ambassador said he was in talks to get Biman Bangladesh Airline to resume flights, hopefully this year after it was suspended in 2012.

“The flights can increase air connectivity, boost tourism and further strengthen our strategic partnership with Bahrain,” he added.

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