In fiscal year 2021-22, Bangladesh’s exports to the South Asian nations (the SAARC countries) have reached new heights having grown steadily over the last 3 years even if India alone accounted for US $ 1.99 billion or 87 per cent of Bangladesh’s total exports receipts from the South Asian Association for Regional Cooperation (SAARC) nations in fiscal year 2021-22.
This is as per media reports which cited data from the country’s Export Promotion Bureau (EPB) in this direction, while adding Bangladesh’s overall exports to eight countries in the region grew 53 per cent year-on-year to US $ 2.28 billion while underlining India’s zero-duty benefit for most Bangladeshi items aided the growth, particularly in the last fiscal year.
Meanwhile, speaking to the media, Vice-Chairman of Newage Group (garment manufacturing entity) Asif Ibrahim observed it was encouraging to see Bangladesh’s export is growing in the SAARC region.
“We have long expected our trade in the region to grow,” stated Asif even if reports further added the demand for ‘Made in Bangladesh’ garments has been growing in Indian and Nepalese markets on the back of their expanding middle-income population.
