Cuba interested to boost bilateral trade with BD

Cuba has expressed the interest to strengthen bilateral trade with Bangladesh based on the existing political relations between the two countries.

They also requested Bangladesh to send a high-powered trade delegation to initiate a process in this regard.

The Cuban Deputy Minister for Foreign Trade and Investment expressed the interest when Bangladesh High Commissioner to Canada Dr. Khalilur Rahman, also the concurrent ambassador to Cuba, presented his credentials in Havana last month.

The Bangladesh envoy communicated Cuba's interest with the Ministry of Commerce recently, requesting it to take necessary steps to this effect.

He also met with the president of the Cuban Chamber of Commerce to discuss ways of promoting bilateral trade between the two countries.

The Cuban deputy minister informed that Cuba is undergoing major economic reforms, and its state-controlled economy now allows the private businesses to operate in most sectors.

More than 7,000 new enterprises have been registered under a new investment act, presenting a unique platform for Bangladeshi businesses to tap into these new opportunities.

During the visit, the Bangladesh ambassador also visited major enterprises in Cuba, including CIMEX and CARACOL, to explore the possibilities of exporting Bangladeshi garments and leather products to Cuba.

The top management of the companies expressed their interest in exploring potential trade opportunities and requested a catalog of Bangladeshi RMG and leather products to consider importing from Bangladesh, according to the communication.

It reads that an opportunity may create for Bangladeshi jute fibres in the Cuban market as Cuba will soon be starting operations of two large jute mills for processing jute fibre, leading to an increase in demand.

The chamber president and the Bangladesh envoy have agreed to initiate a discussion between the chambers of both the countries initially through a virtual platform.

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