Tipu urges Canada to set up edible oil refinery at EEZ

Commerce Minister Tipu Munshi has urged Canada to set up an edible oil refinery at an exclusive economic zone (EEZ) as Canada produces huge canola quality edible oil.

Bangladesh imports edible oil worth $ 2 billion every year and Canada can take this market advantage by setting up an edible oil refinery which can be exported to neighboring countries as there is also a huge market, he said.

Canada is also a big market for Bangladeshi ready garments where export volume is over $1.0 billion annually.    

Tipu Munshi said this when Canadian High Commissioners in Dhaka Dr. Lilly Nicholls met Tipu Munshi at his secretariat office on Wednesday.

In response Dr Lilly said Canada is keen to enhance trade and investment with Bangladesh.

Tipu also sought Canadian cooperation in agricultural research and innovation, reports UNB.