Government Policy

Bangladesh expects greater market for medicine in NZ

Commerce Minister Tofail Ahmed today said Bangladesh expects enhance export of pharmaceuticals and leather goods to New Zealand as Auckland expressed keenness to boost bilateral trade ties.

"New Zealand is keen to strengthen trade with Bangladesh . . . it has offered duty free access to all of our products," he told newsmen after a meeting with New Zealand High Commissioner Grahame Mrton at his ministry office.

He said currently the trade volume was in New Zealand's favor "but there is immense scope of boost our exports" as "New Zealand is likely to be a potential market for Bangladesh".

According to official statistics Bangladesh last year exported products worth $ 73.63 million to New Zealand against the import of $ 150.40 million.

Bangladesh mainly imports milk from New Zealand and then re-exports to different countries after value addition.

The minister said Bangladesh's Vision 2021 targets to export pharmaceuticals worth $ 5 billion while "New Zealand would be a potential market for us".

The New Zealand envoy said Bangladesh was moving ahead fast and progress of its RMG was "really remarkable".

Mrton said against the backdrop of a congenial trade atmosphere the bilateral trade could be boosted as Bangladeshi products have good demand in New Zealand.

Additional commerce Secretary Zahir Uddin Ahmed and Joint Secretaty Munir Chowdhury were present during the meeting.

Source: Bangladesh Sangbad Sangstha (BSS)