Focus on diversified exports to reduce trade deficit with Hong Kong

Economy

Staff Reporter

Published: Thursday, 10 September 2026

Commerce Minister Khandaker Abdul Muktadir emphasized increasing exports of high-value diversified products, including fresh fruits, jute and leather goods, reducing reliance on ready-made garments, to reduce Bangladesh's trade deficit with Hong Kong.

He said this at a meeting with Sophia Chong, Executive Director of the Hong Kong Trade Development Council, on the sidelines of the Belt and Road Initiative (BRI) Summit at the Hong Kong Convention and Exhibition Centre on Thursday.

The commerce minister said that in the 2024-25 fiscal year, the volume of bilateral trade between Bangladesh and Hong Kong was 415 million dollars. Of this, Bangladesh imported goods worth 307 million dollars but exported goods worth 108 million dollars. In the 2025-26 fiscal year, exports rose to 109.51 million dollars. In this situation, he emphasized increasing direct access of Bangladeshi products to the Hong Kong market to reduce the trade gap.

At the meeting, it was proposed to establish direct communication at the business level and create buyer-seller connections so that Bangladesh's premium fruits, including mango, jackfruit and lemon, can reach Hong Kong supermarkets and major importers. Alongside, the potential to expand the market for Bangladesh's jute and biodegradable products in Hong Kong's eco-friendly retail and design industries was highlighted.

The commerce minister proposed subsidized or free exhibition stalls, introduction of electronic certificates of origin, modernization of customs procedures, and improvement of joint transport and logistics systems to increase participation of small and medium entrepreneurs in international fairs. At the same time, he expressed interest in signing a memorandum of understanding on bilateral trade and investment with Hong Kong to address the post-graduation challenges after graduating from the least developed country list.

Sophia Chong welcomed Bangladesh's proposals and emphasized increasing direct communication and exchange of experience between businessmen of the two countries. She said there are ample opportunities to expand cooperation in ready-made garments, textiles, leather goods and information technology sectors. After the meeting, the commerce minister invited a high-level business delegation of the Hong Kong Trade Development Council, led by her, to visit Bangladesh.