Bangladesh-France bilateral trade drops by 15pc in 2020

The bilateral trade between Bangladesh and France contracted for the first time in years in 2020 and came down to EUR 2.76 billion, showing a decrease of 15 per cent compared to 2019, said a press release.

Fuelled by readymade garment sector and several leather products representing 98 per cent of French imports from Bangladesh, total volume of imports decreased by 15 per cent in a year to reach EUR 2.52 billion in 2020.

France, however, remains one of Bangladesh’s largest export markets, and its third single largest market in the European Union, all products considered.

French exports to Bangladesh decreased by 12 per cent in 2020 to EUR 238 million, compared to 2019. French exports are boosted by electrical machinery and industrial equipment, such as gas turbines and equipment manufactured by General Electric in Belfort, France.

Manufactured in Belfort, France the GE 9HA.01 gas turbine can deliver up to 63.7 per cent record-setting net combined-cycle efficiency in the 50 Hz segment and offers lowest total cost of ownership in the industry.

Bilateral deficit that registered a threefold increase in the last ten years came down to EUR 2.23 billion in 2020.

To reduce the huge trade deficit, France is eager to put its world acclaimed know-how and experience at the service of Bangladesh and its people, especially in the sectors where our companies’ excellence is proven worldwide.

Hence, they follow with a keen interest developments in such sectors as power generation, including renewable energy, rail transportation, water treatment and all environment related issues.

Covid-19 forced events to cancel that included a visit by Medef International, the French equivalent to Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), in last April.

France and its companies are committed to developing their action and establishing partnerships which would allow Bangladesh to reach its ambitious economic targets.