Bangladesh–Canada relations

Bangladesh–Canada relations

Bangladesh
Canada

Bangladesh–Canada relations are the foreign relations between Bangladesh and Canada established 1972.[1] Canada is represented through its High Commission in Dhaka and Bangladesh is represented through its High Commission in Ottawa.[2] Both Bangladesh and Canada are members of the Commonwealth of Nations and the United Nations. Bangladesh currently receives ~$100 million from Canadian official development assistance per year as of January 2014.[3] It is estimated that 24,595 Bangladeshi people live in Canada, primarily in cities like Toronto, Vancouver, Montreal, Calgary, Edmonton, and Ottawa.

Trade and Investment

Canada's Merchandise Trade with Bangladesh in 2015[4]

Canadian Imports from Bangladesh Canadian Exports to Bangladesh
Merchandise Classification % of total imports Merchandise Classification % of total exports
1 Woven clothing and apparel articles 49.55 Cereals 40.11
2 Knitted or crocheted apparel 39.22 Edible vegetables, roots and tubers 27.29
3 Other textile articles, etc. 6.08 Oil seeds and misc. fruit, grain, etc. 16.25
4 Headwear 1.66 Fertilizers 7.98
5 Footwear 1.29 Iron and steel 4.44
6 Leather articles 0.34 Boilers, mechanical appliances, etc. 1.08
7 Fish, crustaceans, molluscs 0.30 Optical, medical, scientific, technical instrumentation 0.64
8 Umbrellas, whips, walking-sticks 0.27 Woodpulp; paper or paperboard scraps 0.54
9 Furniture and stuffed furnishings 0.21 Wood and wood articles, charcoal 0.42
10 Ceramics products 0.16 Electrical machinery and equipment 0.25
% of Total imports from Bangladesh 99.08 % of Total exports To Bangladesh 98.99
Bangladeshi imports as % of total Canadian imports 0.28 Bangladeshi exports as % of total Canadian exports 0.19

Canada's commercial relationship with Bangladesh has grown dramatically over the last ten years (2003-2013). The value of bilateral merchandise trade has more than tripled going from $478 million in 2003 to nearly $1.7 billion in 2012. During this period, Canadian merchandise exports to Bangladesh have more than quadrupled and Bangladesh has become the second largest source of Canadian merchandise imports from South Asia, after India.

Canadian merchandise exports to Bangladesh were $525 million in 2012, down slightly from $552 million in 2011. Merchandise imports from Bangladesh were $1.1 billion in 2012, equal to 2011. Canada's main exports to Bangladesh include cereals, vegetables, iron and steel, oilseeds, fertilizers, machinery and electronic equipment. Agri-food was the leading export sector from Canada to South Asia in 2012, making Bangladesh the second largest Canadian agri-food buyer in South Asia after India.

The Canada-Bangladesh relationship is particularly important for the province of Saskatchewan. Saskatchewan's exports (mainly wheat, fertilizers and pulses) to Bangladesh have grown more than five-fold over the past 10 years, from $49 million in 2003 to $279 million in 2012.

Canada's main merchandise imports from Bangladesh include knit apparel, woven apparel, miscellaneous textile articles, headgear, fish and seafood, and footwear. Canada is a bright spot for Bangladeshi apparel, with garments and textile products making-up the bulk of Canada's merchandise imports from Bangladesh. Bangladesh has enjoyed duty-free market access since 2003. Potential trading opportunities to explore include expanding Canadian imports of ready-made garments, porcelain, jute and quality jute good, ceramic tableware and kitchenware.

Garments and textile products accounted for approximate 96% of Canada's merchandise imports from Bangladesh in 2012.[5]

The volume of Bangladesh-Canada bilateral trade stood at US$1.8 billion in 2014 and aims to reach $5 billion by 2020.[6][7][8] Bangladesh mainly exports apparel products ($1.1 Billion by 2012[9]), frozen fish, plastic items, headwear, footwear, ceramic products, toys, games and sports equipment and furniture to Canada. Bangladesh imports mainly red lentils, cereals, edible oil, oil seeds, miscellaneous fruit items, fertilizer, mechanical appliances, wood pulp, paper/paperboard, scraps, and optical, medical, scientific and technical instruments from Canada. Bangladesh is the second largest importer of Canadian food grains and other agricultural products in South Asia. Moreover, potential areas of trade from Bangladesh to Canada are shipbuilding, pharmaceuticals, leather and leather goods and IT.

There are also opportunities for Canadian companies to invest in the areas of food and agro processing, IT and telecommunications, renewable energy, engineering, shipbuilding, services and hospitality sectors.[10]

Defense cooperation

Canada exported $90,018 worth of electronic equipment to Bangladeshi military.[11]When? Military Training and Cooperation Program (MTCP) operates a number of training programs throughout the Asia-Pacific region, including Bangladesh.[12]

References

  1. ↑ http://www.canadainternational.gc.ca/bangladesh/bilateral_relations_bilaterales/index.aspx?lang=eng
  2. ↑ http://www.canadainternational.gc.ca/bangladesh/bilateral_relations_bilaterales/index.aspx?lang=eng
  3. ↑ http://www.cips-cepi.ca/2014/01/20/canada-and-bangladesh-beyond-rana-plaza/
  4. ↑ https://www.asiapacific.ca/statistics/trade/bilateral-trade-asia-product/canadas-merchandise-trade-bangladesh
  5. ↑ http://www.canadainternational.gc.ca/bangladesh/bilateral_relations_bilaterales/index.aspx?lang=eng
  6. ↑ http://economictimes.indiatimes.com/news/international/business/bangladesh-aims-to-boost-trade-with-canada-to-5-billion-by-2020/articleshow/46245299.cms
  7. ↑ http://www.yarnsandfibers.com/news/textile-news/bangladesh-increase-their-two-way-trade-canada-5-billion-2020
  8. ↑ http://news.apparelresources.com/trade-news/bangladesh-canada-look-reaching-us-5-billion-two-way-trade-2020/
  9. ↑ http://www.conferenceboard.ca/economics/hot_eco_topics/default/13-05-03/how_canada_welcomed_bangladeshi_clothing_imports.aspx
  10. ↑ http://www.bdhcottawa.ca/bilateral-relations/trade-relations
  11. ↑ "Report on Exports of Military Goods from Canada". Global Affairs Canada. January 21, 2011. Retrieved September 27, 2015.
  12. ↑ "Canada's Defence Relations in the Asia-Pacific Region". The Department of National Defence and the Canadian Armed Forces. November 21, 2014. Retrieved September 27, 2015.

External links

Media related to Bangladesh – Canada relations at Wikimedia Commons

[[Category:Bangladesh–Canada relations|*]

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