BD, NZ seek to boost trade, investment

Bangladesh has taken a fresh initiative to further strengthen bilateral trade and investment relations with New Zealand by expanding cooperation in promising sectors including agri-tech, dairy, green energy, pharmaceuticals, leather, jute, sustainable textiles and information technology.

The initiative was discussed at a meeting with New Zealand Trade and Enterprise (NZTE), where Bangladesh highlighted opportunities for joint investment, business-to-business (B2B) linkages and export expansion in these sectors.

Rachel McGuckian, Market Manager for Southeast and East Asia at NZTE, attended the meeting, while Bangladesh Commerce Secretary Md Ataur Rahman led the Bangladesh delegation.

Joint Secretary (FTA) Md Firoz Uddin Ahmed and Deputy Secretary (FTA) Farhana Islam were also present.

The meeting noted that bilateral trade between Bangladesh and New Zealand currently stands at around US$450 million annually. Dairy products and metal products account for a significant portion of Bangladesh’s imports from New Zealand.

On the other hand, Bangladesh’s exports to New Zealand amount to around US$147 million, with ready-made garments accounting for a major share.

Bangladesh sought NZTE’s cooperation in expanding its non-RMG exports to New Zealand to make bilateral trade more balanced and diversified, said a Commerce Ministry press release.