By Gold Tabid-Grospe / TIDS, MID
The Export Marketing Bureau of the Department of Trade and Industry (DTI-EMB) has intensified its efforts to expand exports by entering less explored yet promising territories, such as the Philippines’s South Asian neighbor, Bangladesh.
Bangladesh is among the fastest-growing economies in the world, even exceeding India according to the Asian Development Outlook 2019 Report. Coupled with its highly dense population and strong private consumption, the country is seen as a suitable trading partner that the Philippines intends to actively engage with.
Early this year, the Embassy of the Philippines in Dhaka (PE Dhaka) already made strong recommendations to pursue opportunities in Bangladesh, considering the limited exposure of Philippine products in the said South Asian market, especially when it comes to processed foods, cosmetics and other personal-care items. It has been observed that food products like canned meat and fish are mostly imported from European countries, or Thailand, while many cosmetic brands available are from the West.
In April 2019, Philippine Ambassador to Bangladesh H.E. Vicente Vivencio T. Bandillo and key officials of the Bangladesh-Philippine Chamber of Commerce and Industry (BPCCI), President Akber Hakim and Vice President Shams Mahmud, met with the DTI-EMB in Manila, together with the DTI-Foreign Trade Service Corps, to discuss the possibility of holding a business mission in the capital city of Dhaka.
The first-ever Outbound Business Matching Mission (OBMM) to Dhaka materialized on from September 1 to 4, 2019. It was a collaborative endeavor of the DTI-EMB, Philippine Trade and Investment Center in New Delhi, and PE Dhaka. DTI-EMB Assistant Director Agnes Perpetua R. Legaspi served as the head of the business delegation.
The OBMM was participated in by Filipino companies from the areas of fast-moving consumer goods (packaged foods and snacks, beverages, and personal-care products) and food franchising. The companies engaged in business-to-business meetings with potential buyers and partners in Bangladesh, particularly, members of BPCCI and the Dhaka Chamber of Commerce and Industry.
The business delegation was received by key members of the Bangladeshi government, namely, Bangladesh Commerce Secretary Md. Mofizul Islam and Information and Communication Technology State Minister Zunaid Ahmed Palak. Both officials expressed support for the initiatives intended to strengthen trade between Bangladesh and the Philippines.
The delegation also met the executives of three major retailers in Bangladesh, namely, Agora, Shwapno, and the e-commerce platform, chaldal.com, to learn the process of getting products on the retail shelves. Market scanning and benchmarking activities were also held at selected Agora and Shwapno stores.
Back home, Bangladeshi Ambassador to the Philippines, Asad Alam Siam, called for a debriefing meeting with the members of the business delegation on September 10, 2019. He noted the positive impact of the first-ever business mission to Bangladesh. Aside from sourcing products like packaged food, he mentioned that Bangladesh can also benefit from services offered by the Philippines, such as education in information-technology and business-process management. The Ambassador expressed that he is willing to assist Filipino exporters in doing business in Bangladesh.
“The first OBMM to Dhaka is truly a milestone for us. It signifies our conscious effort to boost the export of quality Philippine products and services to non-traditional markets”, DTI-Trade Promotions Group (TPG) Undersecretary Abdulgani M. Macatoman said.
Aside from South Asia, DTI’s current market diversification efforts extend to Africa, Central Asia and Eastern Europe.
1 comment
To: DTI-EMB
Sir/Madam,
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Many thanks,
Mr. Noriel G. Barro