Turkey-Bangladesh Economic and Trade Relations

Main Economic Indicators (2018)

GNDP (billion $)

274

GNDP Growth Rate (%)

7.9

Population(million

164,7

GNDP Per Capita ($)

1.647

Inflation Rate (%)

5,5

Unemployment rate (%)

4,4

Exports(fob-billion $)

38,7

Imports(fob-billion $)

54,6

Bilateral Trade Volume (milion $)

857

Source: World Bank, EIU, Worldfactbook

The most important export markets for Bangladesh: USA, Germany, United Kingdom, Netherlands and France.

Main Countries for Bangladeshi Imports: China, India, Singapore, Indonesia, Hong Kong.

Main Export Commodities: Ready-made garment, jute, jute fiber, frozen seafood, leather and tea.

Main Import Commodities : Petrol, petrol oils, cotton, textile machinery and their apparels, plastic products, agricultural products and iron-steel.

Bilateral Economic and Trade Relations Between Banghladesh And Turkey

Figures of export, import, trade volume (milyon $)

Year

Export

Import

Volume

Balance

2015

200

996

1.196

-796

2016

264

881

1.145

-617

2017

294

737

1.032

-443

2018

373

484

857

-111

2019/first 4 months

114,8

144,5

259,3

-29,7

Kaynak:TÜİK

Main commodities exported to Bangladesh : Iron and steel construction material, cotton, milk and milk products, machines and their components, textile machinery, spices, generators.

Main commodities imported from Bangladesh: Jute yarns & twine, Jute manufacturers knitwear, woven garments , leather, seramics.

Bilateral Cooperation Mechanisms:

- Joint Economic Commission Meeting (JEC): The last JEC meeting between the two countries (4th period) was held in Dhaka on 11-12 November 2012. The 5th meeting of JEC, is expected to be held in the last quarter of 2019, in Ankara.


- Business Council: The Council was established in 2011.

Agreements on the agenda:

The signing of the Preferential Trade Agreement (PTA) between Bangladesh and Turkey is on the agenda.

Investments and Contracting: According to the information provided by the Central Bank of Bangladesh, net foreign direct investment (FDI) inflows to Turkey in Bangladesh in the fiscal year 2015-2016 realized as 1.41 million USD and as of June 2016, the total FDI stock in Bangladesh has been 11.9 million USD. According to the data of the Central Bank of the Republic of Turkey, the FDI in Bangladesh is seen as zero (0).

Tourism: In 2017 775, in 2018 1.180, up until May 2019 1.363 Bangladeshi tourists visited Turkey.

Development Assistance:
Development assistance made by our country to Bangladesh between 2004-2014 is around 13 million USD. The great part of the aid is in the area of ​​education, health and vocational training. TIKA Program Coordination Office has been operating in Bangladesh since 2014.