29 April 2019
Published also in Business Mirror
IN an effort to strengthen the economic ties between the Philippines and Bangladesh, Philippine Ambassador to Bangladesh Vicente Vivencio T. Bandillo and key officials of the Bangladesh-Philippines Chamber of Commerce and Industry (BPCCI), President Akber Hakim and Vice President Shams Mahmud, paid a courtesy visit to the Department of Trade and Industry (DTI) on April 5, 2019.
Part of the visit was a meeting with the DTI Export Marketing Bureau (EMB), together with the DTI-Foreign Trade Service Corps (FTSC), to discuss the conduct of an Outbound Business Matching Mission (OBMM) to Dhaka in September 2019. The mission is primarily aimed at exploring Bangladesh further as a market for Philippine exports.
Products from the Philippines currently have limited exposure in Bangladesh, yet they carry great potential in addressing the lack of variety in the said South Asian market, especially when it comes to processed foods, cosmetics and other personal-care items. Food products, particularly canned meat and fish, are mostly imported from Europe or Thailand, while most cosmetic brands available are from the West.
According to the United Nations, Bangladesh will be the third-fastest growing economy in the world in terms of achieving high gross domestic product (GDP) in 2019 given its strong fixed investment, vigorous private consumption and accommodative monetary policy. It has over 160 million people, making it one of the most populous countries in the world.
For more details on the proposed OBMM to Dhaka, interested exporters may contact the DTI-Export Marketing Bureau Market Innovation Division at (02) 465 3300 local 217.