Hong kong: Commerce Minister Khandaker Abdul Muktadir has called for reducing Bangladesh's 'over-reliance' on ready-made garments in its export basket to Hong Kong, urging a push toward high-value, diversified products such as fresh fruits, jute, and leather goods to narrow the widening bilateral trade gap.
According to United News of Bangladesh, Muktadir made the remarks during a meeting with Sophia Chong, Executive Director of the Hong Kong Trade Development Council (HKTDC), on the sidelines of the Belt and Road Initiative (BRI) Summit at the Hong Kong Convention and Exhibition Centre. The minister highlighted that Bangladesh's total bilateral trade with Hong Kong stood at $415 million in FY2024-25, with imports totaling $307 million against exports of only $108 million. In FY2025-26, exports slightly increased to $109.51 million. Muktadir emphasized the need for greater direct access for Bangladeshi products to the Hong Kong market to close this gap.
During the meeting, the two sides discussed organizing B2B matchmaking events to connect premium Bangladeshi fruits, including mangoes, jackfruits, and lemons, with Hong Kong supermarkets and major importers. They also explored the potential for expanding Bangladesh's eco-friendly, biodegradable jute products in Hong Kong's green retail and design industries.
To assist small and medium Bangladeshi entrepreneurs in participating more actively in international trade fairs, the commerce minister proposed subsidized or free exhibition stalls, the introduction of electronic certificates of origin, modernization of customs procedures, and development of joint shipping and logistics arrangements. He also expressed interest in signing a bilateral memorandum of understanding on trade and investment with Hong Kong to address post-LDC graduation challenges, noting that Bangladesh aims to build new trade and investment partnerships by leveraging Hong Kong as a gateway to southern China and the Greater Bay Area.
Welcoming the proposals, Sophia Chong noted the significant scope to expand cooperation in the ready-made garment, textile, leather goods, and information technology sectors. She called for greater direct engagement and exchange of experience between businesses on both sides. The meeting concluded with the commerce minister inviting a high-level HKTDC business delegation, led by Chong, to visit Bangladesh.