Bangla Version

Tuesday, February 20, 2018

Bangladesh can benefit from HK trade council

Bangla Apparel Desk

March 18, 2017

The trade council can work as a platform for proper use of Hong Kong’s geographic and economic advantages.

Bangladeshi businesses have potentials to go global by expanding into Chinese mainland and using Hong Kong Trade Development Council (HKTDC), said an expert based in Hong Kong.

The trade council can work as a platform for proper use of Hong Kong’s geographic and economic advantages.

Bangladeshi corporations including Small and Medium Enterprises can take the advantage through exhibition and can source opportunities from the year-round HKTDC fairs, HKTDC Director (Exhibitions Market Development) Johnny Wan said on Wednesday.

Johnny termed housewares, home textiles, garments, food, tea, as well as information and communications technology potential sectors.

The director is now visiting Dhaka to explore business and investment opportunities via Hong Kong. He has met with different ministries and trade associations to deepen economic relations between Hong Kong and Bangladesh.

Established in 1966, HKTDC is a statutory body dedicated for creating opportunities for Hong Kong businesses.

The top official has requested Bangladeshi companies to attend its trade fairs that serve as the prime facilitator to boost business opportunities and forge stronger trade links between Bangladesh and 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,” Johnny said at a press briefing at a city hotel on Wednesday.

He presented the media about Hong Kong, business and investment opportunities via Hong and HKTDC’s robust trade platform that may assist Bangladeshi companies to look for new markets to expand business and meet potential partners in Hong Kong.

“There are lots of potential in Bangladesh. Garment is the major potential of the country as the second largest RMG exporter in the world. In addition, food, sea food and frozen foods are another sector,” he said.

IT products like e-commerce, retail technologies, enterprise solutions and home-grown innovations and Houseware including jute products and ceramic products are also potential products to Hong Kong.

“Bangladeshi suppliers can meet with global buyers in Hong Kong to utilise their potentials.”

The total trade value between Bangladesh and Hong Kong amounted to nearly US$ 1.7 billion in 2016.

Major trade commodities between the two regions include telecommunications equipment and parts, leather, various kinds of fabrics such as knitted or crocheted fabrics, cotton fabrics, textile fabrics as well as other articles of apparel.

The total export to Bangladesh from Hong Kong was US$1.5 billion including telecom equipment, fabrics as major export category while the total import to Bangladesh from Hong Kong stood at US$0.2billion, mostly leather, textile, fabrics, etc.

Highlighting enormous and diverse opportunities awaiting Bangladeshi enterprises at HKTDC trade fairs, Johnny said they have signed a Memorandum of Understanding (MOU) with Export Promotion Bureau (EPB) of Bangladesh in 2016 to pursue a strong, effective and mutually beneficial partnership.

“The HKTDC has been eying opportunities in emerging markets. As a manufacturing powerhouse in South Asia with a rapidly expanding economy, and an important partner on the Bangladesh-China-India-Myanmar (BCIM) Economic Corridor under the Chinese mainland’s Belt and Road Initiative, Bangladesh has been identified as a market with great potential for uncovering more bilateral opportunities.”

According to the official, a Bangladesh pavilion will be formed in the April HKTDC Hong Kong Houseware Fair with the support from the EPB, featuring 21 exhibitors.

HKTDC organises over 30 international exhibitions annually in Hong Kong that attracts a large number of exhibitors and buyers from across the globe.

The fairs that offer one-stop marketing and sourcing platforms may present prime opportunities for Bangladeshi traders to gather the latest market intelligence and form partnership and develop their business through Hong Kong.

HKTDC is going to host HKTDC Hong Kong Warehouse Fair, HKTDC Hong Kong International Home Textiles and Furnishing Fair on April 20-23, 2017; HKTDC Hong Kong Fashion Week for Spring/Summer on July 10-13, 2017; HKTDC Food Expo, HKTDC Hong Kong International Tea Fair on August 17-21, 2017; and HKTDC International ICT Expo on April 13-16, 2017 where Bangladeshi businesses were requested to attend to showcase their products to meet global buyers.

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