Bangladesh's trade with Nordic countries has bounced back after the Covid-19 pandemic and is now growing gradually. Exports were $500 million in 2010, now it has increased to $1.35 billion in 2020. Nordic countries represent 5.12% of the total export of Bangladesh in 2020. There are more than 100 companies Nordic companies operating in Bangladesh.
Notable Nordic companies include Grameenphone, Novo Nordisk, LM Ericsson, Nokia, Maersk, Swedish Motors (Volvo), Wartsila, Ikea Supply, Arla Foods (Dano), ABB, H&M, and Bestseller.
On 24 May 2022 Tuesday the embassies of Denmark, Norway and Sweden, in collaboration with the Nordic Chamber of Commerce and Industry in Bangladesh, organized a seminar to promote Nordic businesses and investments in Bangladesh.
From the context of Bangladesh, trade volume is impressive as the Nordic countries are not very populous and a lot of shipments include consumer goods. Nordic companies have significant investments in Bangladesh’s telecommunications and ICT, manufacturing and logistics, agriculture and food production as well as power and energy.
As Bangladesh is graduating from LDC status in 2026, Nordic countries could provide many advanced skills, goods, services and technical solutions that will ensure Bangladesh’s economic growth.
Norwegian ambassador Svendsen said that Bangladesh should join forces with Nordic countries on issues such as climate action, multilateralism, democracy, human rights, gender equality and inclusive development.
Photo Courtesy: Canva
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