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Dhaka eyes on Latin America, Caribbean markets
Bangladesh is eyeing on unexplored markets in Latin America and its Caribbean sub-region as the growing economy looks for non-conventional markets to spur development in order to become a middle income country by 2021.Official sources said a number of steps have been taken to explore new and unconventional markets around the world to widen the export basket and raise per capita income of Bangladesh nationals year on year. "We found a big potential for diplomatic and trade relations with countries in Latin America and Caribbean," foreign secretary Mohamed Mijarul Quayes told journalists at his ministry yesterday. Mijarul's comment came after he returned this week from Latin America, where he led a fact-finding delegation for two weeks in eight countries and explored diplomatic and business opportunities there. The Latin America has a market for an estimated 590 million people in 20 countries. "Product diversification alone can not help a country to woo export unless the initiative is backed by market diversification," he said adding both Bangladesh and Latin America share commonalities in many fields and these areas need to be explored. The foreign secretary said Bangladesh would soon reopen its embassy in Brazil and would appoint consulate offices in some other important countries in the continent to make a bridge between Bangladesh and the Latin America. Brazil has meantime opened its embassy in Dhaka as well, he added. During his visit, Mijarul said he has outlined for number of agreements that include visa waiver for selected Bangladesh national in several Latin American countries and technical assistances. Mexico, Columbia and Argentina have shown keen interest on visa waiver programme for both sides, while agreement with Brazil is on final stage, he added. Mijarul said they have proposed Panama to recruit Bangladesh mariners directly for international shipping companies or absorb such manpower under its 10 per cent quota, which Panama can not fulfill generally. The sailors from the Philippines are now taking the advantage of it, he said, adding Bangladesh's trained youth from Marine Academy could get jobs in foreign vessels using Panama's protected 10 per cent quota in international ships. He said the Latin American countries they visited have shown huge interest on transfer of rice producing knowledge to them, while they will show us the best ways to produce maize and some other corns. Games and sports, especially football, can be other area of cooperation, he said, adding Spanish language courses might be introduced soon in Dhaka University. - BSS
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