Bangladesh’s exports to Canada grew 14.53 per cent year-on-year to CAN$1.97 billion last year, riding on the trade privilege extended by the North American nation. In 2018, Bangladesh’s shipments to Canada was CAN$1.72 billion, more than 92 per cent of which were apparel items, according to data from the Canada Bangladesh Chamber of Commerce and Industry in Bangladesh (CanCham). It was CAN$1.65 billion in 2017. Canada is one of the traditional markets of Bangladesh. Bilateral trade crossed CAN$3.2 billion, registering 36 per cent year-on-year growth. The trade balance is heavily tilted towards Bangladesh with products worth CAN$726 million going to Canada in 2019, said the CanCham in a press release yesterday. Canada shipped products worth CAN$1.24 billion to Bangladesh in 2019, CAN$642 million in 2018 and CAN$718 million in 2017. “We had expected that the export from Bangladesh would grow further this year, but the growth has been affected because of the coronavirus pandemic,” said CanCham President Masud Rahman. Bangladesh has a lot of opportunities to grab more than $25 billion worth of the Canadian retail apparel market, he said. “I hope exports from Bangladesh to Canada will start growing soon as the world has started to reopen. Bilateral trade will definitely grow between the two countries,” Rahman added. The demand for Bangladeshi garment items is very high in Canada because of the competitive prices and the North American country can be a major export destination for local garment items even during the pandemic. “Maintaining a warm relationship with Canada can yield better outcomes,” Rahman said. Mostafa Sobhan Rubel, managing director of Dragon Sweaters, said of his total export volume of $36 million, 15 per cent is shipped to Canada, 45 per cent to the US and the rest to European markets. “Canadian buyers did not cancel any work orders because of the pandemic and they paid me even during the crisis,” said Rubel, who exports mainly sweaters to the country. The entrepreneur had faced work orders cancellation amounting to $24 lakh due to the Covid-19 outbreak. However, his buyers are now reinstating the orders but have deferred payment and shipment of the goods, he said. For instance, the goods that were supposed to be shipped in March, April and May would be sent in September and October to US buyers. “Canada can be a major export destination as both demand and prices are higher in the country than in other countries,” Rubel said, adding that the demand for sweater items in the North American country is higher because of their extended winters. The Canadian markets will rebound earlier than other North American countries because it has been able to control the pandemic successfully, Rubel said. “Retailers have started reopening outlets and so, exports to Canada will start to grow now.” SM Khaled, managing director of Snowtex Group, another leading garment exporter, said of his exports of more than $200 million, $13 million goes to Canada. He mainly sends outerwear like jackets, work-wears and rainwear to Canada. “The share of Canadian work orders in my factory is increasing every year. I am getting a lot of work orders from Canadian buyers this year as well,” he said. Canada has turned into a good export destination as Bangladesh has been enjoying duty-free access to the market for garment products, leather, textiles, seafood and pharmaceuticals since 2004. The cornerstone of the commercial relationship between the two countries is agriculture, the lifeblood of both countries, the CanCham said. “Not only has Bangladesh relied for decades on Canadian suppliers for high quality Canadian grains, seeds and pulses, but more recently nutritional technology and potash fertilizer have been contributing to Bangladesh’s food security and to the health of its citizens.”
