Bangladesh, Spain discuss to boost trade and investment

Dhaka (Dec 13, 2020): Bangladesh and Spain have potential to boost bilateral trade and investment further, Commerce Minister Tipu Munshi said on Sunday.

The statement came after a view exchange meeting with Spanish Ambassador in Bangladesh Francisco de Asis Benitez Salas at the ministry.

“Spain is the fourth largest export market of Bangladesh and we believe there are further scopes to increase this trade relation,” said the minister.

Munshi said Bangladesh is developing 100 economic zones to accommodate local and foreign investors. Already investors from many countries have come in to these zones.

Francisco de Asis Benitez Salas assured the minister that Spain will continue its facilities after Bangladesh graduates from LDC.

“We are happy that Bangladesh is making such progress,” he said.

He said a number of Spanish firms in joint venture are working in the development sector of Bangladesh including steel bridge and railways.

“Now we will analyse the scopes in agro-processing business here,” he said.

In 2018-19, Bangladesh exported $2,558 million worth of goods in Spain, while it imported $180 million worth of goods.

In the statement, commerce ministry said bilateral trade went down in 2019-20 due to the adverse impacts of the coronavirus pandemic, but it did not disclose the figure.