Canada has identified new prospects in Bangladesh’s automotive, food, services and supply chain sectors during a meeting between Canadian Senior Assistant Deputy Minister for International Trade and Chief Trade Commissioner Sara Wilshaw and Dhaka Chamber of Commerce & Industry acting president Razeev H Chowdhury on 23 November at the DCCI Gulshan Centre, according to a press release.
Canadian High Commissioner Ajit Singh joined the courtesy visit where both sides discussed trade flows, investment preferences and future areas of cooperation.
Bangladesh–Canada trade rose to $2.22 billion in FY2024 with exports from Bangladesh amounting to $1.32 billion and imports from Canada standing at $901.09 million. Razeev H Chowdhury said Canada is the 20th largest foreign direct investment source for Bangladesh with an FDI stock of $132.83 million.
He said Canadian firms can explore renewable energy, green technology, waste management, automotive components, education, healthcare, medical equipment, financial services, IT and digital infrastructure, smart logistics, warehousing and cold-chain systems. He added that Canada can also source leather goods, jute products, handicrafts, bicycles, high-end RMG, ceramics, furniture, pharmaceuticals, processed and frozen food, software and BPO services from Bangladesh.
Sara Wilshaw told the meeting that most Canadian companies are small and medium enterprises and nearly 75% of Canada’s exports and outward FDI currently flow to the United States. She said Canada needs to diversify markets and product baskets to stay competitive globally, noting the country’s strengths in education, automotive manufacturing and food processing.
She said both countries can work closely in education and skills development as Canada looks to support Bangladesh in strengthening its supply chain ecosystem and opening new opportunities for the Canadian automotive industry.
Ajit Singh said stronger chamber-to-chamber links can deepen business ties as Bangladesh’s private sector continues to drive economic growth. He said Canada intends to work with Bangladesh in skills training, technical assistance, vocational education, nursing, agro-technology and improving the ease of doing business.
He said the two countries have significant scope to elevate bilateral trade in the coming years.
DCCI vice president Salim Sulaiman, board members and Debra Boyce, counsellor and senior trade commissioner at the High Commission of Canada, also attended the meeting.
