The period of the duty-free market facility (General Preferential Tariffs) for Bangladeshi products in Canada is coming to an end in 2023. The Canada-Bangladesh joint working group on Strengthening Commercial Relations has called on the Bangladesh government to conclude negotiations on a new agreement within the next year to maintain the facility in Canada’s market.
The call was made at a virtual meeting on Wednesday (29 June) night. At the meeting, Canadian co-chair Nuzhat-Tam-Zaman proposed to organise an annual Canada-Bangladesh Forum to implement the recommendations of the working group.
Among the recommendations made by Canada are visa facilitation, the introduction of electronic visas for Bangladeshis, presentation of Bangladesh’s development scenario to Canadian investors, the establishment of a Canada-Bangladesh cross-border e-commerce platform, developing export to increase bilateral trade, and making Canada interested in Bangladesh.
Co-chair for Bangladesh FBCCI President Md. Jashim Uddin said at the meeting, ‘Many services are being provided through BIDA’s One-Stop Service at present. The business environment in Bangladesh has improved a lot.’ That is why the FBCCI president called on Canadian entrepreneurs to invest in Bangladesh. He said that there is huge potential for Canadian investors, especially in the agriculture and technology sectors.
Bangladesh High Commissioner to Canada Dr. Khalilur Rahman said that the Ministry of Foreign Affairs was working to make Canadian visas easier for Bangladeshis.
Masud Rahman, President of the Canada-Bangladesh Chamber of Commerce and Industry, suggested setting up a 100-acre Canadian Industrial Zone in Bangabandhu Shilpa Nagar to attract Canadian investment in the country. In the report presented at the meeting, he also proposed to set up a visa office at the Canadian High Commission in Dhaka, sign an investment protection agreement between the two countries, sign an FTA and form an advisory committee.
Canadian High Commissioner Lily Nichols suggested identifying barriers to investment for Canadian companies in Bangladesh
