Bangladesh slow to explore business in Africa

Send
Sheikh Shahariar Zaman
Published : 12:25, May 28, 2019 | Updated : 13:08, May 28, 2019

The collage shows the map of Bangladesh and Africa.Bangladesh opened an embassy in prosperous South Africa in 1995; however, so far, there has been only one bi-lateral agreement between the two countries, which was done last February.

This means that in around two decades, trade and relations did not expand with South Africa. However, on the other hand, a garment trader, Mohammad Owahid Alam, has been exporting garments and leather goods to war torn country, Somalia.

He also has plans to export chicken and eggs. He feels that with government patronage, trade can flourish with many African nations.

Alam says: “In Somali a 100kg cow costs about Tk 20,000 and if we can bring these during Eid ul Azha then we can make a profit selling them in the local markets.”

“If a meat industry is established in Somalia and the processed meat brought to Bangladesh and sold for Tk 350 per kg, a sizeable profit margin can be maintained.”

In Bangladesh, beef per kg is currently selling at Tk 500.

Political leaders feel there is a dearth of political connection with African nations. Prime minister Sheikh Hasina went to Morocco in 1999 to attend a funeral and then in 2016 to join a climate change summit.

On the other hand, Chinese and Indian premieres have visited several African countries and China is regularly sending high officials to African states to bolster ties.

Foreign secretary, Shahidul Huq, says: “We are working closely with Africa and efforts have been taken through foreign office consultation to increase relations.”

Several representatives of trade chambers and government officials are touring Africa and, hopefully, relations will become stronger in the coming days.

Businessman Owahid Alam observes: “For trade with Somali, I get money from a third source, so, if Bangladesh arranges an official channel for monetary transaction, our expenses will fall and profits rise.”

He feels that making right use of around 4,000 Somalians studying in Bangladesh currently will bring dividends.

/tf/
Top