Proposal to boost cooperation with New Zealand in agri-tech, dairy, green energy and IT sectors

Currently, the volume of bilateral trade between the two countries is about $450 million per year. Bangladesh exports $147 million worth of products to New Zealand, most of which are ready-made garments. Cooperation from NZTE has been sought to increase exports in non-garment sectors such as pharmaceuticals, jute, leather, IT and sustainable textiles.

Highlighting the internationally competitive capability of Bangladesh's pharmaceutical industry, it was noted that there is an opportunity to supply affordable generic medicines and vaccines to the New Zealand market. In addition, a proposal was made to build partnerships in software, fintech and digital services by utilising a skilled workforce of more than 650,000 technology professionals.

In terms of investment, New Zealand companies were invited to invest in Bangladesh's special economic zones. The potential for investment in dairy processing, cold-chain logistics, renewable energy and environmentally friendly technologies was highlighted.

For implementing bilateral cooperation, proposals were made for direct communication between NZTE and BDA, organising virtual B2B meetings, and coordination with MFAT. Both sides also agreed to form a bilateral business council and participate in trade fairs.