Govt offers exclusive economic zone to Australian investors

Dhaka has offered an exclusive economic zone to Australian investors as the country is increasingly becoming an important trading partner of Bangladesh, Commerce Minister Tofail Ahmed said yesterday.

Bangladesh has already made similar offers to countries such as India, China and Japan as the country’s economic relations with these countries are growing.

Similarly, the significance of Australia in Bangladesh’s international trade is growing.

Australia is already an important trading partner of Bangladesh.

Bangladesh exported goods worth $658.15 million to Australia and imported goods valued $683.90 million last fiscal year, according to a commerce ministry statement.

Garments are the main export items while other products that are performing strong in Australian markets include ceramics, pharmaceuticals and leather goods.

Bangladesh’s products enjoy duty-free market access to Australia.

“Both countries should launch direct air cargo flights to boost trade,” said Ahmed while exchanging views with Australian Finance Minister Mathias Cormann during a meeting in Australia yesterday.

Ahmed is visiting Australia to attend the German-Australian Asia Pacific Regional Conference, said the statement.

Bangladesh is developing 100 special economic zones across the country for both local and foreign entrepreneurs.

Source: The Daily Star

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