Bangladesh and the United Arab Emirates (UAE) presently passes through Singapore and Ceylon, Sri Lanka, taking 40 to 42 days. But a direct shipping line would cut that time in half to roughly 14 days – resulting a significant rise in bilateral trade volumes.
• PM Sheikh Hasina is expected to visit UAE in March
• Bangladesh eager to share its pharma expertise with UAE
• Bilateral trade in 2021 stood at $1.8 billion that’ll grow three times with direct shipping line
Ship traffic between Foreign Minister Dr. AK Abdul Momen, who is now in the UAE for a four-day official visit, has come up with the above observation.
“The balance of trade favoured the UAE since exports from that country to Bangladesh stood at $1.3 billion, while imports from the country to Bangladesh totaled $500 million,” he said.
Bangladesh has begun exporting its excess food output, particularly rice and vegetables, he noted, adding that Bangladesh government is willing to work with the UAE-based organizations with a global reputation for expertise in port management.