Bangladesh launches new initiative to boost trade and investment with New Zealand

Bangladesh has taken a fresh initiative to strengthen trade and investment ties with New Zealand by expanding cooperation in high-potential sectors such as agri-tech, dairy, renewable energy, pharmaceuticals, leather, jute, sustainable textiles and information technology.

The initiative was discussed at a meeting with New Zealand Trade and Enterprise (NZTE), where Bangladesh highlighted opportunities for joint investment, business-to-business (B2B) partnerships and increased exports.

Rachel McGuckian, NZTE’s Market Manager for Southeast and East Asia, attended the meeting, while Bangladesh Commerce Secretary Md Ataur Rahman led the Bangladesh delegation. Joint Secretary (FTA) Md Firoz Uddin Ahmed and Deputy Secretary (FTA) Farhana Islam were also present.

According to the meeting, bilateral trade between Bangladesh and New Zealand currently stands at around $450 million annually. Dairy and metal products make up a significant share of Bangladesh’s imports from New Zealand, while Bangladesh’s exports to the country total around $147 million, with ready-made garments accounting for the largest portion.

Bangladesh urged NZTE to support efforts to diversify its exports to New Zealand and reduce the trade imbalance. The delegation particularly sought greater market access for Bangladeshi pharmaceuticals, eco-friendly jute products, leather goods, sustainable textiles and IT services.

The Bangladesh side highlighted the country’s pharmaceutical manufacturing capabilities, noting that local drug producers follow internationally recognised quality standards and certifications. It said Bangladesh could supply quality generic medicines and vaccines to New Zealand’s healthcare sector at competitive prices.

Bangladesh also highlighted its pool of more than 650,000 skilled technology professionals and proposed partnerships with New Zealand technology companies in software, fintech and digital services.

On investment, Bangladesh invited New Zealand companies to explore opportunities in its special economic zones, particularly in dairy processing, nutritional products, cold-chain logistics, agri-tech, advanced manufacturing, renewable energy and green technologies.

The Bangladesh delegation said foreign investors can access various incentives and facilities in the country’s special economic zones, adding that New Zealand companies could use Bangladesh as a base to expand into wider South and Southeast Asian markets.

To translate the discussions into concrete outcomes, Bangladesh proposed three immediate measures: establishing direct communication between NZTE’s Southeast and East Asia team and the Bangladesh Investment Development Authority (BIDA); arranging virtual B2B meetings between New Zealand buyers and Bangladeshi exporters in the pharmaceutical, IT and leather sectors; and strengthening coordination with New Zealand’s Ministry of Foreign Affairs and Trade (MFAT).

The two sides also agreed to establish a bilateral Business Council and organise and participate in trade fairs.

The meeting emphasised the need for a balanced and mutually beneficial economic partnership by leveraging the strengths of both countries. Bangladesh’s large market and manufacturing capacity, combined with New Zealand’s technological expertise and high-value export capabilities, could help take bilateral trade and investment ties to a new level.