BANGLADESH BUILDS ON TIES WITH CANADA

Bangladesh's textile products enjoy duty-free access to Canada. So, the country's exports to Canada will reach three billion dollars by 2021, if the trade facilities offered by Canada remain unchanged.

In enlarging the trade volume in the Canadian market, Bangladesh is planning to showcase its products, especially leather and diversified jute products as there is a huge opportunity for growth.

TBangladesh has a target of 50 billion dollars in overseas sales for the end of 2021 and Canada is going to be a key garment export destination. Bangladesh and Canada may form a blue ribbon panel to explore possibilities of expanding trade and investment.


CAMBODIA CAN BENEFIT FROM US-CHINA TRADE WAR

The ongoing trade dispute between the US and China could provide an opportunity to Cambodia to increase its exports to the US. The recent tax reform in the US is also likely to help Cambodian exporters.

As trade barriers between US and China increase, investors from US will look away from China to set up their factories. Cambodia can take advantage of this situation by improving its competitiveness through reduction in power and transportation costs and streamlining trade procedures, Vongsey Vissoth, Secretary of State at the Ministry, told reporters during the annual meeting of the Asian Development Bank in Manila. “A buoyant economy in the US multiplies opportunities for exporters in Cambodia,” he said. The US has recently extended its GSP programme, which grants Cambodian companies, access to duty-free privileges when exporting to the US, a Cambodia media report said.


US AND EU ENTER DEAL TO SUSPEND TARIFFS

US is free to focus on the trade war dispute with China as it has entered an agreement with EU to suspend new tariffs and also expand EU import of US products. Donald Trump will now concentrate on China with regard to his 'free and fair trade' crusade after this deal with EU. It was agreed recently by both parties that some industrial tariffs would be lowered and Europe's purchases of US soybeans and liquefied natural gas would be increased. Both, US soybeans and liquefied natural gas are potential weapons for Beijing in its trade war with the US. Europe and US are also looking at re-examining the present US tariffs on aluminium and steel and retaliatory ones from Europe.

US and Europe were in a tense situation earlier and the deal between the US President and European Commission President Jean-Claude Juncker has eased this considerably. The deal has also pitted the US against a strategic competitor like China and its traditional western allies.

The USA's rising trade war and negotiations with China has stalled more than billions in tariffs and retaliatory tariffs with duties on extra US $200 billion of Chinese goods that are set to be enacted in August.


VIETNAM AND MIDDLE EAST BOOST TRADE POTENTIAL

The multifaceted cooperation ties between Vietnam and the UAE have been developing strongly. Sound political and diplomatic relations have aided the rapid development of bilateral cooperation in economics, trade, industry and investment.

Two-way trade turnover hit more than US$5.5 billion last year. Vietnam has carried out many trade promotion activities and taken part in seminars, trade events and international exhibitions and fairs in the UAE, helping businesses seek partners and collaboration opportunities.

The two countries also have potential to boost cooperation in the fields of renewable energy, metallurgy, ship repair, petro-chemistry, chemicals, mechanics, and manufacturing.

UAE businesses have been investing in infrastructure, real estate, mining, manufacturing, tourism, and services in Vietnam. They have had 14 direct investment projects worth more than US$26 million in the Southeast Asian country.


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