Algeria wants to expand trade ties with Bangladesh



Bangladesh exported goods worth $5.90 million to Algeria while Algeria exported goods worth $90.79 million to Bangladesh

As the Covid-19 situation is gradually improving in both Asia and Africa, Algeria is working hard on improving trade relations with Bangladesh in the coming days.

Rabah Larbi, ambassador of Algeria to Bangladesh, said this to Dhaka Tribune at his office in the capital recently.

“Trade relations with Bangladesh are below its potential. It needs to be increased as economies of both countries have been growing steadily over the years,” Larbi further said.

Sources at the Export Promotion Bureau (EPB) said that Bangladesh exported goods worth $5.90 million to Algeria while Algeria exported goods worth $90.79 million to Bangladesh.

At present, Algeria imports jute and jute products, woven and knitwear, home textiles and footwear from Bangladesh. Apart from this, it imports a huge quantity of consumer goods, cereals, dairy products, plastics, medicines every year from the world market.

The North African country also has a huge potential market for man made filaments, glass and ceramics, leather goods, and electronics.

As gross domestic product (GDP) per capita in Algeria is over $4,000 and Bangladesh is a developing country, the consumer markets in both countries are expanding, the African diplomat also said.

To increase bilateral trade, Bangladesh is expecting to sign either a free trade agreement (FTA) or a preferential trade agreement (PTA) with Algeria, Larbi informed.

Quoting ADB statistics, Rabah Larbi said that Bangladesh is a prospective country with an emergence of new-middle and upper-middle-class consumers.

Several hundred Bangladesh citizens work in a fertilizer factory in Algeria, while some are also engaged in some other professions.