Hong Kong is one of the major trade and investment partners of Bangladesh. With a two-way trade volume reaching to US$ 442 million USD in FY 2021-22, Hong Kong is one of top 20 export destinations for Bangladesh though trade is heavily in favour of Hong Kong.

Trade figures between Bangladesh and Hong Kong of the last five years are given below:

                                                                                                     (In million USD)

Source: Bangladesh Bank, October 2022

Bangladesh’s major exports to Hong Kong include frozen fish, shark fin & fish maws, dry, salted and dehydrated fish, leather and leather products, footwear, garments and textile accessories while a major component of our imports from/through Hong Kong include telecommunications equipment and parts, yarn, fabrics and accessories for our RMG sector. Many of our garments manufactures/exporters maintain resident office in Hong Kong and they source fabrics, machinery and other accessories from mainland China, Taiwan and Hong Kong.

The Consulate General of Bangladesh is working extensively to enhance trade ties between Bangladesh and Hong Kong by continuous interaction with major business chambers of Hong Kong and concerned government departments.

The Consulate coordinated the visit of the officials of Hong Kong Economic and Trade Office (HKETO), Bangkok (established in 2019 to strengthen the economic and trade ties between Hong Kong and three ASEAN countries namely Thailand, Cambodia and Myanmar, as well as Bangladesh) to Bangladesh from 29 May to 02 June 2022 led by Director, HKETO. During the visit, they met with Secretary (West) of MoFA and high officials of the Ministry of Commerce, BIDA, BEPZA and PPPA.

Trade Fairs:

Hong Kong is a major hub for exhibitions, trade fairs and conferences throughout the year and attracts buyers from all over the world for its location and reputation though it has been affected by the outbreak of the pandemic. Presently, Bangladesh Consulate General is participating in the HKTDC Book Fairs, Education Expo, Belt and Road Expo, etc. In the book fair, the Consulate exhibits books/publications on Bangabandhu, Bangladesh’s Great Liberation War, history, culture, tourism etc. and books on development trajectories of Bangladesh envisioned by Bangabandhu’s able daughter Hon’ble Prime Minister Sheikh Hasina.

In the 7th Belt and Road Exhibition held from 31 August-01 September 2022, the Consulate showcased investment opportunities in Bangladesh in its booth (both physical and virtual).

Investment:

Hong Kong is one of the top ten investors in Bangladesh. Foreign Direct Investment (FDI) inflows from Hong Kong to Bangladesh in the last five years are given below:

      (In million USD)

Source: Bangladesh Bank, October 2022

Hong Kong entrepreneurs are attracted by the abundance of cheap labour for relocating textile and garments factories in Bangladesh mostly in the EPZs. Hong Kong investors are particularly investing in textiles and garments, knitwear, garment accessories, electronics etc. There is also a good prospect of Hong Kong investment in other sectors such as telecommunications, port and shipping, tourism, power generation, property development, banking, finance and IT sectors.

The Consul General regularly meets with different Chambers of Commerce in Hong Kong, Hong Kong Trade Development Council (HKTDC), InvestHK and other departments and organizations of HKSAR for enhancing investment flow to Bangladesh. Mission is also in contact with the two Chambers of Commerce of Bangladesh in Hong Kong.

Bangladesh and Hong Kong SAR have signed the Comprehensive Avoidance of Double Taxation Agreement