Commerce minister seeks diversified exports to Hong Kong to narrow trade gap
The minister says Bangladesh needs to reduce its dependence on readymade garments and expand exports of a wider range of products to gain greater direct access to the Hong Kong market.
Commerce Minister Khandakar Abdul Muktadir has called for increasing diversified and high-value exports to Hong Kong, including fresh fruits, jute and leather goods, to reduce Bangladesh's trade deficit with the territory.
Bangladesh's exports to the country increased slightly to $109.51 million in FY26, he said during a meeting with Hong Kong Trade Development Council Executive Director Sophia Chong on the sidelines of the Belt and Road Initiative Summit at the Hong Kong Convention and Exhibition Centre today (10 September).
The minister said Bangladesh needs to reduce its dependence on readymade garments and expand exports of a wider range of products to gain greater direct access to the Hong Kong market.
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He said bilateral trade between the two countries stood at $415 million in FY25, with Bangladesh importing goods worth $307 million and exporting $108 million.
Against this backdrop, Muktadir stressed the need for greater direct access of Bangladeshi products to the Hong Kong market to narrow the trade gap.
The minister proposed arranging business-to-business matchmaking programmes to connect Bangladeshi exporters of premium fruits, including mango, jackfruit and lemon, with Hong Kong supermarkets and major importers.
He also highlighted the potential for expanding the market for Bangladesh's eco-friendly and biodegradable jute products in Hong Kong's green retail and design sectors.
Muktadir proposed subsidised or free exhibition stalls for Bangladeshi small and medium enterprises at international trade fairs, introduction of electronic certificates of origin, modernisation of customs procedures and improvement of joint shipping and logistics facilities.
He also expressed Bangladesh's interest in signing a memorandum of understanding with Hong Kong on bilateral trade and investment to address challenges arising from Bangladesh's graduation from the least developed country category.
The minister said Bangladesh wants to use Hong Kong as a gateway to southern China and the Greater Bay Area to develop new trade and investment partnerships.
Sophia Chong welcomed Bangladesh's proposals and stressed the need to increase direct contacts and experience-sharing between businesses of the two sides.
She said there are significant opportunities to expand cooperation in readymade garments, textiles, leather goods and information technology.
At the end of the meeting, Muktadir invited a high-level Hong Kong business delegation, led by Sophia Chong, to visit Bangladesh.
