Bangladesh looks at expanding trade relations with Algeria

Business Report:

Bangladesh is seeking to expand trade relations with Algeria, one of the most promising economies in Africa, as Asian and African countries are expected to experience steady growth in the coming years.

Md Najmul Huda, the newly appointed Ambassador of Bangladesh to Algeria, expressed this view while presenting a copy of his credentials to Algerian Foreign Minister Ahmed Attaf in Algiers.

“The economy of Bangladesh has been growing steadily over the last 25 to 30 years. Bangladesh is looking at exploring trade potentials with Algeria,” said Ambassador Huda.

Bangladesh’s exports to Algeria have seen consistent growth in recent years. According to data from the Export Promotion Bureau (EPB), exports reached $25 million during the July-May period of FY2024-25, up from $22 million in FY2023-24 and $12 million in FY2022-23, says a press release.

Currently, Bangladesh exports jute and jute products, as well as woven and knitwear, home textiles, and footwear, to Algeria. Algeria also imports a large volume of consumer goods, cereals, dairy products, plastics, and medicines globally-highlighting the potential for expanding Bangladesh’s export basket to include artificial filaments, glass and ceramics, leather goods, and electronics. Ambassador Huda noted the significant economic potential of Africa, citing its robust growth trajectory and long-term expansion outlook. He emphasised the importance of strengthening trade and investment ties and expressed his readiness to work closely with the Algerian Ministry of Foreign Affairs and other stakeholders.

He also expressed appreciation for the successful 2nd bilateral consultations held in Algiers on 4 February 2025 and reminded Minister Attaf of the invitation extended by Bangladesh’s Foreign Affairs Adviser to visit Dhaka.

Foreign Minister Ahmed Attaf warmly welcomed Ambassador Huda and assured him of full support during his tenure.