In a recent meeting with a delegation from the United Kingdom (UK) led by Minister for International Trade Nigel Huddleston, Bangladesh Commerce Minister Tipu Munshi emphasised the need for cooperation between the two countries in trade-related research and technical capacity building to promote product diversification.
Tipu highlighted Bangladesh’s significant achievements in various sectors, such as being the world’s second-largest exporter of Readymade Garments (RMG) alongside being the third-largest producer of vegetables, the fourth-largest producer of rice, and the fifth-largest producer of inland freshwater fisheries.
The Commerce Minister pointed out that the UK currently stands as Bangladesh’s third-largest export destination, with exports worth US $ 5.31 billion and imports worth US $ 450 million from the UK during the fiscal year 2022-23. He emphasised the immense potential for enhancing trade, investment, and economic relations between the two countries even as he stressed the importance of working together to elevate financial and trade relations to new heights while safeguarding the mutual interests of both nations.
During the meeting, Minister Nigel Huddleston emphasised that apart from RMG, there is a significant market in the UK for various Bangladeshi products.
