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Trade opportunities in Bangladesh.

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Trade News

Mark Vaile — Trade Minister

Deputy Leader of the National Party


Thursday, October21, 1999 MV42/99


Trade opportunities in Bangladesh


Trade Minister, Mark Vaile, has called on Australian businesses to examine market opportunities in Banglades h.


At a business function in Canberra for the visiting Prime Minister of Bangladesh Her Excellency Sheikh Hasina, Mr Vaile said there were many opportunities for Australian exporters in Bangladesh and for direct investment in a whole range of industries.


“The strength of our trade relationship is very sound. Last year two-way trade topped $330 million, more than double what it stood at four years ago,” Mr Vaile said.


Australia’s main exports include wheat, oilseeds, fresh vegetables, milk products, cotton and zinc, while main imports include fertilisers and textile products.


“A significant level of Australian investment already exists in Bangladesh and continues to attract interest from a wide variety of companies.


‘The ANZ Bank is the largest foreign bank in Bangladesh and the sixth largest overall with deposits of more than $500 million.


“Wesfarmers have recently won a major contract to supply bottled liquid petroleum gas, and the Snowy Mountains Engineering Corporation has recently commenced a World Bank-funded flood damage restoration project, capping 20 years of continuous involvement in Bangladesh for the Corporation.


“There are many other Australian companies pursuing opportunities in the areas of food processing, education, telecommunications, transport and energy.


“I encourage Australian companies to explore trade and investment opportunities in Bangladesh.”



Contact: Bruce Mills 02 6277 7420



lk  1999-10-25  11:02