Bangladesh’s economic engagement with Australia growing: ABCCI President M Maksud

Bangladesh’s economic engagement with Australia has been growing substantially over the years and currently stands at over $5 billion, said M Maksud, newly elected president of the Australia Bangladesh Chamber of Commerce and Industry (ABCCI).

He made the remarks while speaking at a business networking session at a city hotel on Wednesday evening, says a media statement.

The expansion of economic ties over the years has made Bangladesh the 22nd largest export destination for the Asia-Pacific region.

He noted that the trade balance currently favours Australia and suggested that Bangladesh could reduce the gap by attracting more Australian investment.

Mr Maksud said the new government will leave no stone unturned in improving the investment-friendly environment, with renewable energy emerging as a priority sector.

According to data from the Export Promotion Bureau (EPB), Bangladesh exported goods worth $907 million to Australia in the July–June period of the 2024–25 fiscal year. During the July–February period of the 2025–26 fiscal year, exports stood at $578 million.

Mr Maksud, who also served as president of the German-Bangladesh Chamber of Commerce and Industry and the France-Bangladesh Chamber of Commerce and Industry, focused on strengthening bilateral trade, investment and economic cooperation between the two countries.

He said Bangladeshi businesses are keen to expand engagement with Australia, particularly in sectors such as food processing, agriculture, recycling and the circular economy.

“Our Chamber represents more than just a collection of businesses: it embodies the spirit of enterprise, innovation, and the enduring resilience of the private sector,” he said. “As we navigate a global landscape defined by rapid economic shifts, our collective duty is to lead with vision and adapt with agility.”

Ambassador Shahed Akhtar presented a keynote paper at the reception.

Nuria Lopez, president of EUROCHAM Bangladesh, along with leading businessmen, members of civil society and media personalities, attended the programme.