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    Trade Relationship Between NAFTA and Bangladesh

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    Rony G Rabby
    Bangladesh has established trade relationships with Canada, Mexico, and the United States. Bilateral trade between Bangladesh and Canada increased from CAD 2.24 billion in 2017 to CAD 3.1 billion in 2019. Bangladesh mainly exports apparel, fish, plastics, and other goods to Canada and imports items like lentils, oil, fertilizer, and paper from Canada. Bangladesh and Mexico have signed agreements to expand bilateral economic activities and their two-way trade amounted to $336 million in 2018. Bangladesh exports cotton, textiles, and shoes to Mexico and imports motors, generators, seafood, and steam traps. Bangladesh should maintain good relationships with NAFTA countries to increase investment and establish itself as a regional trade hub in

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    Trade Relationship Between NAFTA and Bangladesh

    Uploaded by

    Rony G Rabby
    124 views3 pages
    Bangladesh has established trade relationships with Canada, Mexico, and the United States. Bilateral trade between Bangladesh and Canada increased from CAD 2.24 billion in 2017 to CAD 3.1 billion in 2019. Bangladesh mainly exports apparel, fish, plastics, and other goods to Canada and imports items like lentils, oil, fertilizer, and paper from Canada. Bangladesh and Mexico have signed agreements to expand bilateral economic activities and their two-way trade amounted to $336 million in 2018. Bangladesh exports cotton, textiles, and shoes to Mexico and imports motors, generators, seafood, and steam traps. Bangladesh should maintain good relationships with NAFTA countries to increase investment and establish itself as a regional trade hub in

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    Bangladesh has established trade relationships with Canada, Mexico, and the United States. Bilateral trade between Bangladesh and Canada increased from CAD 2.24 billion in 2017 to CAD 3.1 billion in 2019. Bangladesh mainly exports apparel, fish, plastics, and other goods to Canada and imports items like lentils, oil, fertilizer, and paper from Canada. Bangladesh and Mexico have signed agreements to expand bilateral economic activities and their two-way trade amounted to $336 million in 2018. Bangladesh exports cotton, textiles, and shoes to Mexico and imports motors, generators, seafood, and steam traps. Bangladesh should maintain good relationships with NAFTA countries to increase investment and establish itself as a regional trade hub in

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    124 views3 pages

    Trade Relationship Between NAFTA and Bangladesh

    Uploaded by

    Rony G Rabby
    Bangladesh has established trade relationships with Canada, Mexico, and the United States. Bilateral trade between Bangladesh and Canada increased from CAD 2.24 billion in 2017 to CAD 3.1 billion in 2019. Bangladesh mainly exports apparel, fish, plastics, and other goods to Canada and imports items like lentils, oil, fertilizer, and paper from Canada. Bangladesh and Mexico have signed agreements to expand bilateral economic activities and their two-way trade amounted to $336 million in 2018. Bangladesh exports cotton, textiles, and shoes to Mexico and imports motors, generators, seafood, and steam traps. Bangladesh should maintain good relationships with NAFTA countries to increase investment and establish itself as a regional trade hub in

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    © All Rights Reserved
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    Download as doc, pdf, or txt
    of 3

    M19170204523

    TRADE RELATIONSHIP WITH CANADA

    Canada established diplomatic relations with Bangladesh in 1972. The volume


    of Bangladesh-Canada bilateral trade increased to CAD 3.1 billion in 2019 from
    CAD 2.24 billion of 2017. It is expected that Bangladesh’s exports to Canada
    will reach $3 billion by 2021. Bangladesh mainly exports apparel products,
    frozen fish, plastic items, head wear, footwear, ceramic products, toys, games
    and sports equipment and furniture to Canada. Bangladesh imports primarily
    red lentils, edible oil, oil seeds, miscellaneous fruit items, fertilizer,wood pulp,
    paperboard,medical, scientific and technical instruments from Canada.
    Bangladesh is the second largest importer of Canadian food grains and other
    agricultural products in South Asia

    TRADE RELATIONSHIP WITH MEXICO

    Bangladesh and Mexico have expressed mutual interest in expanding the


    bilateral economic activities between the two countries. Both nations have
    signed a few bilateral agreements such as an Agreement on the Elimination of
    Visa for Diplomatic and Official Passport Holders (2013); Agreement on
    Mutual Administrative Assistance in Customs Matters (2013) and a
    Memorandum of Understanding on Foreign Office Consultation (2015). In
    2018, two-way trade between both nations amounted to US$336 million.
    Mexico exports to Bangladesh was US$7.84 Million during 2020. Bangladesh's
    main exports to Mexico include: cotton, textiles and shoes. Mexico's main
    exports to Bangladesh include: motors for elevators or elevators; generators;
    shrimp and prawns; and steam traps. In 2016, Mexican multinational company
    CEMEX, sold its operations in Bangladesh to Siam Cement Group.

    CONCLUSION
    1|Page
    Bangladesh should maintain good relation with the USA, Canada and Mexico
    that will help to establish Bangladesh as a regional hub of south-east Asia.
    There are some constraints regarding this. Firstly, the rise of a superpower-
    India and relationship of China. We know China is a great contributor to the
    economic development of Bangladesh. Lots of project are being financed by
    China. So, maintaining good relationship with both China and USA will be
    challenging for Bangladesh. As a developing country, Bangladesh needs to take
    help from foreign country for infrastructural development and fulfillment of
    economic criterion. So, maintaining healthy relationship is very much essential
    for that. Bangladesh can exploit its strengths like low-cost labor, land, economic
    liberalization policy, unutilized land to attract the foreign countries for
    expanding mutual understanding with foreign countries.so Bangladesh should
    maintain the good relationship with NAFTA for increased investment
    opportunities.

    2|Page
    Reference

    1. “New Horizon US Bangladesh ties visible Biden Administration”; retrieved at 1 PM;


    Date: 5-5-2021; https://www.thedailystar.net/opinion/news/new-horizon-us-
    bangladesh-ties-visible-biden administration-2041977
    2. Retrieved at: 3.P.M Date: 5-5-2021;
    https://www.state.gov/u-s-relations-with-bangladesh/
    3. Wikipedia; Retrieved at: 3.P.M Date: 5-5-2021
    https://en.wikipedia.org/wiki/Bangladesh%E2%80%93United_States_relations
    https://en.wikipedia.org/wiki/Bangladesh%E2%80%93Canada_relations
    https://www.international.gc.ca/country-pays/bangladesh/relations.aspx?lang=eng
    4. “Bilateral Trade December 2019; Retrieved at: 12 PM; Date: 6-6-2021
    5. https://www.dhakachamber.com/storage/bilateraltrades/December2019/Psf2CvDEMJ
    gYJ3cMwcd6.pdf
    6. “Country Trade Profile- World Bank”; Retrieved at: 3 PM; Date: 6-6-2021
    https://wits.worldbank.org/CountryProfile/en/Country/BGD/Year/LTST/TradeFlow/E
    XPIMP/Partner/by-country

    3|Page

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