Bangladesh-Denmark trade hits record 30 pc high in eight months
DHAKA, Nov 1 (BSS) -Two-way trade between Bangladesh and Denmark has increased by more than 30 percent in first eight months of this year as the Danish entrepreneurs seem gaining confidence in local potentials and feel comfortable doing business with native companies.
“Bangladesh and Denmark business relations are on the verge of a record upswing once again and making 2011 a successful year of trade,” Danish Ambassador to Bangladesh Svend Olling told BSS in an exclusive interview here today.
The Danish envoy said confidence of the foreign entrepreneurs in Bangladesh indicates that the country is on the right path of becoming a middle income country.
“However, the goal will be reached much faster, if all political forces could join hands in solving the energy crisis, reducing corruption and red tape as well as invest in the necessary physical infrastructure,” Olling observed.
The total export from Bangladesh to Denmark in first eight months this year from January to August was 1.27 billion Danish Kroner (Taka 1,824 crore) about 30 percent higher than the same period in 2010.
In 2010, Bangladesh also made a record by exporting goods worth 1.56 billion Danish Kroner to Denmark with 30 percent increase comparing with 1.09 billion Kroner export to Denmark in 2009.
On the other hand, during the first eight months of 2011, goods worth 194 million Danish Kroner (Taka 278.58 crore) entered Bangladesh from Denmark with an increase of 33.88 percent compared to the same period of the preceding year.
“Overall Bangladeshi exports to Denmark are around 6.5 times bigger than its imports in 2011,” Olling said. The ambassador claimed that proactive role of Danish Embassy in Dhaka in encouraging Danish companies to do business with Bangladesh entrepreneurs is one of the main factors in boosting Dhaka-Copenhagen trade.
“Our commercial section makes an effort to encourage and motivate Danish companies to come to Bangladesh,” he said adding, “in the last 2 years, we have seen many Danish companies showing interest about knowing Bangladesh as a possible destination for starting export or import,” he said.
Danish companies are doing business with Bangladeshi companies in various potential sectors like IT, pharmaceuticals, maritime, dairy, agriculture as well as green-tech and renewable energy.
“Danish companies are relatively active in Bangladesh, mostly through joint ventures, but also through wholly owned subsidiaries,” Olling said.
In shipbuilding sector, the Danish ambassador said the first Bangladeshi built oceangoing ship for export was bought by a Danish customer in 2009. Subsequently, there were more ships built at Ananda Shipyard and Western Marine Shipyard by Danish buyers,” he said.
“Currently, Danish ferry boats are being built at Western Marine in Chittagong,” he added.
In the pharmaceutical sector, Olling said the Danish world leader of Diabetic drugs-Novo Nordisk, is currently building an insulin factory in cooperation with a local pharmaceutical company in Tongi.