BD has trade deficit with 71 countries: Tofail

BD has trade deficit with 71 countries: Tofail

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Dhaka, Jun 5 – Noting that Bangladesh has trade relations with 198 countries across the world, Commerce Minister Tofail Ahmed on Monday told Parliament that Bangladesh has experienced trade deficit with 71 countries in the outgoing fiscal year – 2016-17.“Bangladesh got export-import dealings with 195 countries in 2016-17 fiscal year. Of the countries, Bangladesh has trade deficit with 71 countries,” he said replying to an unstarred (written) question from Awami League MP Pinu Khan (Reserved Seat-23).
According to the statistics placed by the minister in the House, Bangladesh has the highest trade deficit of US$ 6881.47 million with China, while the second highest of US$ 3998.16 million with India and the third highest of US$ 1575.21 with Singapore.
Besides, Bangladesh experienced the trade deficit of US$ 866.65 million with Brazil, US$ 788.99 million with South Korea, US$ 777.46 million with Indonesia, US$ 674.54 million with Malaysia, US$ 624.08 million with Japan, US$ 534.14 million with Hong Kong, US$ 533.19 million with Thailand.
The Commerce Minister cited a number of measures the government either has taken or is taking to reduce the trade deficit with countries.
The government has prepared a time-befitting export policy 2015-2018 for bringing dynamism in the export, he said.
In reply to another unstarred question from AL MP Golam Dastagir Gazi (Narayanganj-1), the minister said Bangladesh has bilateral trade agreements with 45 countries.
The countries include India, Myanmar, Nepal, Pakistan, Afghanistan, Sri Lanka, Bhutan, Brazil, Germany, Chine, South Korea, North Korea, Thailand, Vietnam, Malaysia, Indonesia, the United Arab Emirate, Kuwait, Iraq, Iran, Libya, Turkey, Ukraine, Bulgaria and Belarus. – UNB

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