Home Diplomatic BD-Vietnam bilateral trade to be over $2b
Diplomatic - October 25, 2022

BD-Vietnam bilateral trade to be over $2b

Staff Correspondent: DCCI President Rizwan Rahman said the bilateral trade with Vietnam can be enhanced to $2 billion rationalising the trade gap through mutual cooperation, exchange of business delegation and joint research.
Rizwan Rahman made the observation during a business networking meeting and B2B match-making between the Dhaka Chamber of Commerce and Industry (DCCI) and the visiting 31-member business delegation from Vietnam yesterday, reads a press release.
Do Quoc Hung, Deputy Director General at the Ministry of Industry and Trade of Vietnam, headed the Vietnamese delegation and the country’s Ambassador to Dhaka Pham Viet Chien was present during the meeting.
The DCCI president said Bangladesh and Vietnam have been growing remarkably in the recent decades taking initiatives to strengthen economic cooperation in the recent years.
Rizwan Rahman noted that the bilateral trade between Bangladesh and Vietnam reached $739.89 million in FY2021 where our export was $61.29 million and import was $678.6 million.
He also urged the Vietnamese investors to take the dividend of our existing competitive trade and investment ambiance in the form of investment, joint ventures and technology transfer in agro processing, shipbuilding, electronics, textile, pharmaceuticals, leather, jute, ceramics, light-engineering industries, Economic zones and Hi-tech parks.
To ensure the win-win trade relation, Bangladesh can be included as a member in the Regional Comprehensive Economic Partnership (RCEP) and ASEAN, he added.
Ambassador of Vietnam in Bangladesh Pham Viet Chien said Bangladesh is a potential business partner of Viet Nam. Even in the post-pandemic era, the bilateral relation between Bangladesh and Viet Nam got much deeper. He said that in the first nine month of this year the both-way trade crossed $1.1 billion and it is growing day by day.
He hoped that the B2B arranged by Dhaka Chamber will pave the way to enhance linkages between the businessmen. He invited Bangladeshi entrepreneurs to invest in Viet Nam and they are ready to share experience and views with their Bangladeshi counterparts. Do Quoc Hung, Deputy Director General, Ministry of Industry & Trade of Vietnam and Head of the delegation said lack of linkages between both parties are responsible for lower trade. He thus suggested more exchange of delegation. He said Bangladesh and Vietnam maintain a good inter-complementary trade relation where both the countries do not have to compete with each other.
Viet Nam has already implemented 15 Free Trade Agreements, he added.
He said the more we can arrange B2B, the more opportunity will be created for businesses.
DCCI Senior Vice President Arman Haque, President of Bangladesh-Vietnam Chamber of Commerce S M Rahman also spoke on the occasion. Later, about one hundred member companies of DCCI took part in an interactive B2B session with 31 visiting Vietnamese companies.

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