Bangladesh wants to have stronger trade links with Hong Kong. Leveraging on Hong Kong’s intrinsic geographic and economic advantages, Bangladeshi companies can expand businesses into the Chinese mainland and the world using this value-adding gateway. Bangladesh hopes to trade with Hong Kong in readymade garments, leather, textiles, fabrics, food, sea food, frozen foods, jute and ceramic products.
The total trade value between Bangladesh and Hong Kong amounted to nearly $1.7 billion in 2016. Hong Kong sees Bangladesh as a market with great potential for uncovering bilateral opportunities. It sees Bangladesh as a manufacturing powerhouse in South Asia with a rapidly expanding economy, and an important partner on the Bangladesh-China-India-Myanmar economic corridor under the Chinese mainland’s belt and road initiative.
Trade fairs that offer one-stop marketing and sourcing platforms present prime opportunities for Bangladeshi traders to gather the latest market intelligence and form partnerships and develop their business in Hong Kong. Hong Kong is presenting itself as a sourcing and distribution hub in Asia.
Many garment, leather and footwear factories in China want to relocate production units to Bangladesh to utilise duty-free entry benefits allowed to exports. These companies want to manufacture in Bangladesh and re-export the finished products to the world through Hong Kong.