Bangladesh government takes step to build a readymade garments (RMG) warehouse to increase the trade relation with Russia and the CIS block. For this reason they located CIS countries to build warehouse. At a seminar in Dhaka titled, "3rd Front of Bangladesh's Export Destination Russia and other CIS countries" Finance Minister AMA Muhith said," Bangladesh has no warehouse in the world. And now we are thinking to build a warehouse to increase our exports."
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| Finance Minister AMA Muhith speaks at a business semiar in a city hotel, Dhaka |
For building a warehouse, Muhit urged with the sponsors to find a better place in the CIS countries. He said they discussed on to established an RMG warehouse in Gujrat, India.
"The Country only focused on the market of EU and America for exports but now the time has come to explore new markets and implant our products." Muhith said.
The seminar was organized jointly by Bangladesh foreign trade institute and CIS-BCCI (Bangladesh Chamber of Commerce and Industry).
At this seminar CIS-BCCI said, “As Bangladesh is the second largest exporter of RMG in the world, Bangladesh should get 7% of share and it may increase to $10bn to the CIS countries”.
At 2014 Bangladesh exports good of $796m to CIS countries and $721 in 2013, which was very insignificant compared to the total capacity of Bangladesh. Russia is the host country of World's number one sports event "FIFA World Cup 2018". And this is the great chance for Bangladeshi knit garments to build up their place in new market Russia, Said by CSI-BCCI.
Another topic of bilateral FTA (Free Trade Agreement) was discussed at this seminar. At the seminar Business people and high government officials suggest on signing bilateral Free Trade Agreement (FTA) to increase volume of trade with the different countries.
Tofail Ahmed, Minister of Commerce informs that “The government was talks with Sri Lanka and Turkey for FTA but some issues are tilling now unsolved.”
Acting president of FBCCI, Shaiful Islam Mohiuddin said “Bilateral and regional FTA were the most important issue for any countries and it is happening all over the world now. To build up bilateral trade there is no alternative to signing FTA”.
Reported by-
Md Farhad Hossen
Daffodil International University
Staff Reporter, Textile Tribune
Email: farhadshajiv786@gmail.com
"The Country only focused on the market of EU and America for exports but now the time has come to explore new markets and implant our products." Muhith said.
The seminar was organized jointly by Bangladesh foreign trade institute and CIS-BCCI (Bangladesh Chamber of Commerce and Industry).
At this seminar CIS-BCCI said, “As Bangladesh is the second largest exporter of RMG in the world, Bangladesh should get 7% of share and it may increase to $10bn to the CIS countries”.
At 2014 Bangladesh exports good of $796m to CIS countries and $721 in 2013, which was very insignificant compared to the total capacity of Bangladesh. Russia is the host country of World's number one sports event "FIFA World Cup 2018". And this is the great chance for Bangladeshi knit garments to build up their place in new market Russia, Said by CSI-BCCI.
Another topic of bilateral FTA (Free Trade Agreement) was discussed at this seminar. At the seminar Business people and high government officials suggest on signing bilateral Free Trade Agreement (FTA) to increase volume of trade with the different countries.
Tofail Ahmed, Minister of Commerce informs that “The government was talks with Sri Lanka and Turkey for FTA but some issues are tilling now unsolved.”
Acting president of FBCCI, Shaiful Islam Mohiuddin said “Bilateral and regional FTA were the most important issue for any countries and it is happening all over the world now. To build up bilateral trade there is no alternative to signing FTA”.
Reported by-
Md Farhad Hossen
Daffodil International University
Staff Reporter, Textile Tribune
Email: farhadshajiv786@gmail.com
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