Bangladesh

Market overview

On 31 August, Bangladesh's government eased restrictions on public movement and other activities within the country.


Economy and trade

The Asian Development Bank (ADB) has projected strong economic recovery for Bangladesh in the 2020-21 fiscal year, with GDP expected to grow by 6.8 percent.

The Times of India has recently cited Bangladesh as a "South Asian miracle" , with the country outshining India and Pakistan across a number of development indicators over recent years.

Government support

Bangladesh ranks 168th out of 190 countries according to the latest World Bank Ease of Doing Business 2020 report. This represents a jump from 176th in 2019. The Bangladesh Investment Development Authority has since developed a series of 84 recommendations aimed at continuing to improve on its ranking, including reforms to the system of issuing trade licences.

Supply chain, logistics and freight

The Port of Chittagong, which handles 90% of Bangladesh's seaborne trade, is fully operational, although it continues to face problems clearing a pile-up of containers due to inadequate transport facilities.

The National Board of Revenue in Bangladesh is working out a comprehensive procedure to conduct trans-shipment of goods with India, Nepal and Bhutan across three routes - sea, land and air. This move follows the recently started transhipment route between India and Bangladesh.

Travel

Bangladesh Biman Airlines will resume commercial flights to Saudi Arabia from 20 September, after a five-month suspension due to the COVID-19 pandemic.

Sector insights

Manufacturing

According to a study conducted jointly by the United States Fashion Industry Association (USFIA) and the University of Delaware, Bangladesh has emerged as the third-largest sourcing country for US-based apparel and fashion companies in 2020, advancing from last year's sixth position, despite the COVID-19 pandemic.

Infrastructure

Four specialised technology centres (TCs) in economic zones (EZs) will be established in Bangladesh, focussing on strengthening the country's profile in international trade within the leather, footwear, plastics and light-engineering sectors.

The Asian Development Bank (ADB) has confirmed US$50 million in loans to promote, fund, and implement public-private partnership (PPP) infrastructure projects in Bangladesh. New Zealand companies operating in the infrastructure sector could explore co-partnering opportunities.

Biotech

Bangladesh’s Beximco has signed a deal to invest in the Serum Institute of India to ensure that it gets priority access to any potential coronavirus vaccine.

Human clinical trials for a potential COVID-19 vaccine developed by Chinese company Sinovac Biotech Limited will start in Bangladesh in September.


Additional resources

Below you can find information and contact details for other New Zealand government and international agencies regarding their response to COVID-19.

New Zealand Government agencies

Covid19.govt.nz
COVID-19 helpline for businesses
Business.govt.nz
New Zealand Customs
Ministry for Primary Industries (MPI)
New Zealand Export Credit (NZEC)
MFAT Export Helpline
MFAT Safetravel
Callaghan Innovation
Immigration
Ministry of Health
WorkSafe New Zealand
myNZTE

Global agencies

World Health Organization (WHO)
Centers for Disease Control and Prevention (CDC)

Contact NZTE

We're available to talk to you about any issues your export business is facing due to COVID-19.

For existing NZTE customers, please contact your New Zealand-based Customer Manager.

If you're unsure who to contact or haven't worked with us before, you can call NZTE on 0800 555 888 or email below and one of our Customer Advisors will help you.