Dhaka: Canadian Senior Assistant Deputy Minister for International Trade and Chief Trade Commissioner Sara Wilshaw today paid a courtesy visit to the Dhaka Chamber of Commerce and Industry (DCCI) and engaged in an interactive meeting with its acting President Razeev H Chowdhury at the DCCI Gulshan Center in the city. The High Commissioner of Canada to Bangladesh, Ajit Singh, was also present during the meeting.
According to Bangladesh Sangbad Sangstha, DCCI Acting President Razeev H Chowdhury highlighted that the bilateral trade between Bangladesh and Canada reached US$2.22 billion in FY2024, with exports from Bangladesh to Canada amounting to $1.32 billion and imports from Canada to Bangladesh at $901.09 million. He noted that Canada ranks as the 20th largest source of Foreign Direct Investment (FDI) in Bangladesh, with a total FDI stock of $132.83 million. Chowdhury emphasized the potential for Canadian businesses to invest in Bangladesh, particularly in sectors such as renewable energy, green technology, waste management, automotive components, education, healthcare, IT, and digital infrastructure.
Canadian Senior Assistant Deputy Minister Sara Wilshaw pointed out that the majority of Canadian companies are small and medium-sized enterprises. She remarked that while a significant portion of Canadian exports and FDI is directed toward the USA, there is a pressing need to diversify exports and markets to remain competitive internationally. Wilshaw also highlighted the strengths of the Canadian educational and automotive sectors, suggesting collaborative opportunities in education and skill development with Bangladesh. She expressed Canada’s interest in facilitating Bangladesh’s global competitiveness by enhancing its supply chain ecosystem and identified Bangladesh as a promising market for Canada’s automotive sector.
Ajit Singh, the High Commissioner of Canada to Bangladesh, underscored the importance of strengthening business connections and chamber-to-chamber relations. He acknowledged the role of Bangladesh’s private sector as an economic growth engine and expressed Canada’s interest in boosting trade with Bangladesh. Singh also indicated a willingness to collaborate on skills training, technical assistance, and ease of doing business initiatives in Bangladesh, envisioning a strengthened bilateral trade relationship in the future.
DCCI Vice President Md. Salim Sulaiman, along with members of the Board of Directors and Senior Trade Commissioner Debra Boyce from the High Commission of Canada, were also present at the meeting.