“Bangladesh needs to take necessary steps to diversify its export basket to Canadian market. With no Canadian visa office in the country, as it is now in Singapore, the business between the two countries is suffering,” said Masud Rahman, the outgoing President of Canada-Bangladesh Chamber of Commerce and Industry (CanCham) while talking to the media persons.
It is no denying the fact that Bangladesh is a huge market for Canada. In the year 2011, the country exported RMG products worth US $ 1 billion to Canada, a rise of 33.40% over the previous year; both woven and knitted products increased hugely by 40.26% and 26.79%, respectively. The year witnessed 15.88% rise in country’s total imports, and both woven and knitted garment rose by 16.48% and 15.30%, respectively.
Masud was confident that trade between the two nations would cross US $ 2 billion in the current year 2012. Up to July 2012, Canada had imported goods worth US $ 574,354,284 though it was down by (-) 4% over the previous year, with knitted showing negative growth of (-) 11.87%, while woven showed marginal improvement of 3.36% over the same period last year.
Besides garments exports, the countries also enjoyed good business in the area of information technology (IT). The CanCham is also working hard with Bangladesh Association of Call Centre and Outsourcing (BACCO), Bangladesh Association of Software and Information Services (BASIS) and GPIT, the first offshoot company of Grameen phone.