The Financial Express

Annual export to Canada crosses $1.10 billion again

| Updated: July 14, 2018 09:20:33

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Merchandise export to Canada from Bangladesh crossed $1.10 billion in the past fiscal year.

Statistics available with the Export Promotion Bureau (EPB) showed that the export reached at $1.118 billion in FY18, registering 3.66 per cent growth over $ 1.079 billion.

In the previous year, FY16, for the first time export to Canada crossed $1.10 billion level and reached at $1.112 billion.

In 2003, the Canada government extended duty-free and quota-free access to imports from 48 LDCs including Bangladesh with the exception of some agricultural products such as dairy, poultry and eggs.

Thus Bangladesh is enjoying market access benefit for 98.6 per cent products in Canada, according to the EPB.

Moreover, Canada provided relaxed rules of origin for the LDCs. Currently the rate of ‘maximum non-originating materials’ is ‘80 per cent with cumulation’ for these countries.

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