Bangladesh seeks to diversify exports to narrow Hong Kong trade gap

Commerce Minister Khandakar Abdul Muktadir has called for greater diversification of Bangladesh’s exports to Hong Kong beyond ready-made garments, with the aim of reducing the country’s trade deficit with the territory.

He made the remarks during a meeting with Sophia Chong, executive director of the Hong Kong Trade Development Council (HKTDC), on the sidelines of the Belt and Road Summit at the Hong Kong Convention and Exhibition Centre on Thursday (10 September).

The minister said bilateral trade between Bangladesh and Hong Kong amounted to $415 million in the 2024-25 financial year. Bangladesh imported goods worth $307 million from Hong Kong, while its exports stood at $108 million.

Bangladesh’s exports to Hong Kong increased marginally to $109.51 million in the 2025-26 financial year, Muktadir said, stressing that expanding direct market access for Bangladeshi products would be crucial to narrowing the trade gap.

During the meeting, he proposed organising business-to-business matchmaking programmes to connect Bangladeshi producers of premium fruits, including mangoes, jackfruit and lemons, with supermarkets and major importers in Hong Kong.

The two sides also discussed opportunities to expand the market for Bangladesh’s environmentally friendly and biodegradable jute products in Hong Kong’s green retail and design sectors.

Muktadir proposed providing subsidised or free exhibition stalls for Bangladeshi small and medium-sized enterprises at international trade fairs. He also called for the introduction of electronic certificates of origin, modernisation of customs procedures and improvements in joint shipping and logistics arrangements.

The minister further expressed Bangladesh’s interest in signing a memorandum of understanding (MoU) with Hong Kong on bilateral trade and investment to address challenges arising from the country’s graduation from the least developed country (LDC) category.

Bangladesh also wants to leverage Hong Kong as a gateway to southern China and the Greater Bay Area to develop new trade and investment partnerships, he said.

Chong welcomed Bangladesh’s proposals and emphasised the importance of strengthening direct business-to-business contacts and experience-sharing between the two sides.

She said there was significant potential to expand cooperation in ready-made garments, textiles, leather goods and information technology.

At the conclusion of the meeting, Muktadir invited a high-level HKTDC business delegation, led by Chong, to visit Bangladesh.