Committed to PEOPLE'S RIGHT TO KNOW
Vol. 4 Num 304 Tue. April 06, 2004  
   
Business


Bangladesh fair begins in Sydney today
Move to secure bigger pie in Australian market


A three-day single country trade fair of Bangladesh begins today in the Australian city of Sydney aiming to secure a larger export market down under.

The fair will focus on promotion of textile, clothing and leather products to reap maximum benefits from duty free access facility provided by Australia.

This is the first government-sponsored trade fair in Australia, organised by the Export Promotion Bureau (EPB) as part of a five-day 'Bangladesh Festival'.

The April 6-10 festival also includes trade and investment seminar, cultural show, fashion show and Australia-Bangladesh friendly cricket match.

Though Australia granted duty free access in July last year, Bangladesh's export to the Pacific economy did not increase due to poor publicity there.

The bilateral trade is also in favour of Australia, which exported products worth $220 million to Bangladesh in 2002-2003 against imports valued at $35 million.

Garments, leather, jute goods, ceramics, handicrafts and frozen foods are the major items exported from Bangladesh to Australia while Bangladesh imports pulses, oilseeds, oil, medicine and other products from the Pacific country.

Bangladesh Commerce Minister Altaf Hossain Choudhury and Australian Trade Minister Mark Vaille will inaugurate the Bangladesh Festival at Sydney Convention Centre.

At the inaugural function, the Australian minister will address on 'Australia-Bangladesh Trade Relationship' while his Bangladesh counterpart will make a presentation on 'Bangladesh Economy and Opportunities for Trade and Investment.'

Abdul Awal Mintoo, president of the Federation of Bangladesh Chambers of Commerce and Industry is now leading a 35-member trade team to explore opportunities in trade, investment and joint venture with the Australians.

Bangladesh Garment Manufacturers and Exporters Association, Metropolitan Chamber of Commerce and Industry, Dhaka and Bangladesh Leathergoods and Footwear Manufacturers and Exporters Association have also sent separate delegations.

Some 60 companies will participate in the single country fair to display textile, clothing and leather products, ceramics and porcelain, handicrafts, ICT, toiletries, cosmetics, frozen foods, contraceptive products, imitation jewellery, saree, jute goods, automotive battery, kitchenware and plastic products.

"The Australian consumers will get a taste of Bangladeshi products from the fair which opens an opportunity for local entrepreneurs," an EPB official said.

A cultural team will also take part in the Bangladesh Festival and leading designer Bibi Russell will arrange a fashion show featuring exportable attires.

Australia provided duty free access to least developed countries (LDCs) including Bangladesh from July 1, 2003 to allow more LDC products in Australian market and improve trade position. LDCs have only 0.2 percent of Australia's total imports.