Local firms urged to consider trade opportunities in Bangladesh

MANILA, Philippines - The Philippine Trade Training Center (PTTC) is encouraging local firms to consider trade opportunities in Bangladesh to boost the two countries’ economic relations.

According to the Department of Trade and Industry (DTI), the PTTC has conducted an information session focused on trade opportunities in Bangladesh to enable local firms to take advantage of such opportunities.

The activity was undertaken by the PTTC with the Bangladesh – Philippines Chamber of Commerce and Industry (BPCCI) through the initiative of the DTI – Foreign Trade Service Corp. in India.

Established in 2013, the BPCCI ,which is composed of companies, corporate bodies as well as individuals engaged in trade, industry and agriculture, seeks to promote and develop trade, commerce and industry between Bangladesh and Philippines.

BPCCI president Rashed Maksud Khan said there are many opportunities available in Bangladesh which is the second largest supplier of ready-made garments to the US.

Apart from garments, Bangladesh has likewise established itself in terms of providing pharmaceutical products and leather goods.

Bangladesh could be a market for Filipino products with the young generation making up 50 percent of its population.

Last month, a six-member delegation led by BPCCI was in the country to check out business opportunities, particularly in the production of car parts, training facility for nurses, business process management and franchising.

PTTC executive director Nestor Palabyab said he would like more activities to be undertaken with BPCCI to promote greater relations between the two countries.

 “If the Bangladesh delegates were able to come here to our country, the Philippine delegates should also go to Bangladesh to introduce the trade opportunities in our country,” he said.

Khan said the BPCCI intends to send a bigger delegation and arrange an exhibition here next year.

On a government-to-government level, a joint economic commission meeting for the two countries is likewise expected next year.