Finland companies thinking about bilateral trade with Bangladesh

21 Nov 2020 9:42 AM
Image: Collected
Finnish companies are thinking about availing bilateral solutions on close partnership with Bangladeshi counterparts, reported Juho Romakkaniemi, the president and CEO of Finland Chamber of Commerce (FCC), in an FBCCI Cloud Conference about Wednesday.

FCC is eagerly waiting to engage with the Federation of Bangladesh Chambers of Commerce and Sector (FBCCI) alongside trade ministries found in the upcoming ‘Bilateral Organization Event’ on 9 December, he said, reports media agency UNB.

FBCCI president Sheikh Fazle Fahim delivered the welcome speech at the cloud conference titled ‘Bilateral Trade and Expenditure Opportunities found in the Ongoing Global Pandemic and Beyond’, according to a news release from the apex trade physique.

“Various Finnish companies that are bringing technology to Bangladesh through investments, we’re more than happy to present them with opportunities in neuro-scientific the circular economy, energy, forest, logistic, and digital services industry; where we’ve the most options for bilateral trade,” stated the FCC president.

FBCCI president Fahim said: “Although Bangladeshi goods enjoy DFQF facility in Finland beneath the EU GSP (EBA) plan, our bilateral trade with Finland remains to be far below potential.”

The existing bilateral trade trend between your two nations shows a substantial decline of 47.44 per cent in bilateral trade, from US$ 244 million in FY18-19 to US$ 165.61 million in FY2019-20. Meanwhile, imports decreased from US$ 204 million in FY 18-19 to US$ 130.9 million in FY19-20. Exports in the same period declined by US$ 4.79 million.

Highlighting the current position of bilateral trade and proposing to explore trade restoration and diversification, the FBCCI president underscored possible products entailing set and footwear items, specialised textiles, light engineering items, FMCG, agro-processed goods, diversified jute products instead of plastics, generic pharmaceuticals, and health-protective equipment.

Fahim also conveyed identifying bilateral value chain initiatives exploring Finland’s cutting-border technology support in ICT, start-up ecosystem, skills, ADR, applied research, among others.

Timo Vuori, senior executive vice president, Finland Chamber of Commerce, and Jenni Isola, secretary basic of Finland-ASEAN Organization Association also spoke found in the conference.