Conference enhances trade connectivity between Vietnamese and Bangladeshi firms

At the event, Tran Phu Lu, director of the Investment & Trade Promotion Centre of Ho Chi Minh City, emphasized that the function will allow businesses to explore new import-export opportunities in the two countries' markets, thereby further promoting the friendly relationship between the two nations, as well as the two business communities.

Bangladesh is currently Vietnam's second largest trading partner in South Asia, accounting for 9.3% of Vietnam's total exports to South Asia and 2% of the country's total imports from South Asia in 2023. Statistics from the General Department of Customs indicated that trade between the two countries has quadrupled within a decade, from about US$350 million in 2012 to nearly US$1.1 billion in 2023.

Regarding locality-to-locality cooperation, trade ties  between Ho Chi Minh City and Bangladesh have also made significant progress. The southern city's export turnover to Bangladesh in the first half of 2024 fetched US$24.8 million, up 54% over the same period from last year.

Ashraf Ahmed, president of Dhaka Chamber of Commerce & Industry (DCCI), pointed out that Vietnamese enterprises can consider Bangladesh as a gateway to penetrate and expand into the South Asian market.

Simultaneously, he also called upon Vietnamese enterprises to invest in Bangladesh as the South Asian country boasts the most impressive and competitive investment mechanism in the region.

Therefore, there are bright prospects ahead to develop trade links between the two countries in fields such as high-tech agriculture, farm mechanisation, value-added agricultural processing, aquaculture, dairy and confectionery products, construction materials, pharmaceuticals, medical equipment, industrial capital machinery, lighting engineering, electronics, information technology, fin-tech, and Halal products, he added.