According to business circles, the trade gap between Dhaka and Abu Dhabi is widening fast due to large-scale import of mineral products, plastic and articles, base metals and articles and products of chemical or allied industries from the United Arab Emirates.

According to the latest statistics, Bangladesh's trade imbalance rose to US$ 239.97 million during the July-March period of the last fiscal year while the gap accounted for US$ 126.97 million in 2004-2005.

Bangladesh spent US$ 95.29 million on the import of mineral products and US$ 13.31 million on plastic and articles from the UAE in 2004-05, while local tobacco and cigarettes jointly fetched from there the highest chunk of foreign exchange amounting to US$ 6.83 million during the same period.

In 1990-91, Bangladesh's exports to the UAE market amounted to US$ 11.01 million against its imports of US$ 105.57 million. In 2004-05, export earning stood at only US$ 22.76 million against its import bill of US$ 149.73 million.

During the July-March period of the last fiscal year, Bangladesh's export showed a little upturn, fetching US$ 32.28 million, against a huge import bill of US$ 272.25 million.

A 10-member UAE investment and business delegation headed by Khalifa Mohammad Al Muhairi, member of the Board of Directors of Abu Dhabi Chamber of Commerce and Industry (ADCCI), is now in Dhaka on a trade-promotional tour.

They will meet the apex trade body of the country, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), today to discuss ways of augmenting the bilateral trade and investment.

Bangladesh side in the meeting is likely to call upon the UAE trade delegation to come up with investment in different prospective sectors in the country to help reduce the trade imbalance that remains overwhelmingly in favour of the oil-rich Gulf country.