BILATERAL TARDE

International Business (OSL-406)

RELATIONSHIP
BETWEEN
BANGLADESH &
FRANCE
 Termpaper On

Bilateral Tarde relationship between Bangladesh & France

Course Code: OSL-406

Submitted To

Muhammad Abdul Aziz

Assistant Professor

Department of Organization Strategy and leadership

Faculty of Business Studies

University of Dhaka

Submitted By

Name ID
Md Sujan Mia BE-097-004
Mahfuj Chowdhury ZR-097-009
Zafnun Akter SK-097-010
Md Enzamamul Haque ZR-097-041
Mithi Khatun RH-097-064

Date of Submission: 15.09.2023

Table of Contents
Introduction ..................................................................................................................................... 1

The current state of bilateral trade between two countries ............................................................. 2

The main products that are trade between Bangladesh and France ................................................ 5

Bangladesh export product to France .......................................................................................... 5

Bangladesh import product from France ..................................................................................... 8

Trade Balance Between Bangladesh and France .......................................................................... 13

The Investment Opportunities That Exist In Each Country For Businesses. ............................... 14

The recent agreements and MoUs signed between France and Bangladesh to promote trade and
investment-.................................................................................................................................... 17

The initiatives taken by the two countries to improve their trade relations .................................. 17

The Challenges and opportunities that exist for the businesses from Bangladesh and France in
each other’s market. ...................................................................................................................... 19

Challenges for businesses from Bangladesh in the French market ........................................... 19

Opportunities for businesses from Bangladesh in the French market ....................................... 19

The impact of the recent visit of French president to Bangladesh on the bilateral trade between
the two country ............................................................................................................................. 21

Conclusion .................................................................................................................................... 22

References ..................................................................................................................................... 24

Appendix ....................................................................................................................................... 26
Introduction

Recently, the president of France, Emmanuel Macron paid a two day visit to Bangladesh with a
view to strengthening bilateral relationship. As France is an old ally to Bangladesh in terms of
trade, investment, security and so on, president Emmanuel Macron sees great potential in
Bangladesh as a safe place for investment. Our visionary leader, honorable prime minister Sheikh
Hasina has managed to bring a breakthrough change in the infrastructural condition of our country
to make Bangaldesh a safe zone for FDI and inclusive development. The visit of the French
president signals a new path for international trade between the countries as several business,
security and technology pact inked by the two leaders.

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The current state of bilateral trade between two countries
The bilateral trade between Bangladesh and France has been growing steadily in recent years. The
total trade between two countries increase from $210 million in 1990 to $4.9 billion in 2023.
Bangladesh export $2.12 billion worth of goods to France and import $225 million worth of goods
from France.

11 September 2023, France President Emmanuel Macron visit in Bangladesh. Both countries have
agreed to work together and make strategic partnership. Bangladesh is trading Airbus from France
to strengthen their partnership.

Bangladesh and France signed a deal for the purchase of 10 Airbus A350 wide body aircraft worth
USD 3.2 billion. This is the first time that Bangladesh has ordered aircraft from Airbus. The deal
is a significant boost for the French aerospace industry and is expected to create jobs in France.

The deal is also a sign of the growing economic ties between Bangladesh and France. The two
countries have been working to strengthen their trade and investment relations in recent years. The
Airbus deal is a major step forward in this process.

The 10 Airbus A350 aircraft will be used by Biman Bangladesh Airlines, the national flag carrier
of Bangladesh. The aircraft will be used to expand Biman's international network and to improve
its passenger experience.

The Airbus deal is a win-win for both Bangladesh and France. It will help Bangladesh to improve
its air connectivity and to boost its economy. It will also help France to create jobs and to promote
its aerospace industry.

The deal is also a sign of the growing importance of Bangladesh in the global economy.
Bangladesh is a rapidly growing economy and is becoming an increasingly important player in the
global supply chain. The Airbus deal is a recognition of Bangladesh's economic potential and is a

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vote of confidence in its future. Paris also sign bilateral agreement between instrument on
infrastructure, food security, defense security and satellite technology.

• Infrastructure: France has been a major donor to Bangladesh's infrastructure

development, providing financial assistance for projects such as the Dhaka Metro Rail, the
Padma Bridge, and the Payra Deep Sea Port. France is also involved in the development of
the Bangladesh-China-India-Myanmar Economic Corridor (BCIM EC), which is a
proposed economic integration project between the four countries.

• Food security: France is a major exporter of food to Bangladesh, and the two countries
have been working together to improve food security in Bangladesh. France has provided
technical assistance to Bangladesh to develop its agricultural sector, and the two countries
have also collaborated on research and development in the field of food science.

• Defense: France is a major supplier of defense equipment to Bangladesh, and the two
countries have been cooperating on defense training and exercises. France has also
provided technical assistance to Bangladesh to develop its own defense industry.

• Satellite technology: France is a leading provider of satellite technology, and Bangladesh

is a major user of French satellites. The two countries have been working together to
develop Bangladesh's own satellite capabilities, and France has provided technical
assistance to Bangladesh to launch its first satellite, the Bangabandhu-1.

France and Bangladesh repeated their partnership commitment to territorial impartiality and
sovereignty of all nations.

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Prime Minister Sheikh Hasina visited France from 9 to 14 November 2021 at the invitation of the
French President Emmanuel Macron. The visit was aimed at further strengthening the bilateral
relations between Bangladesh and France in a wide range of areas, including trade and investment,
climate change, and security.

The two sides signed a number of agreements, including a Memorandum of Understanding on

cooperation in the field of renewable energy, a Letter of Intent on cooperation in the field of
defense security, and a Framework Agreement on cooperation in the field of climate change.

Climate change

Bangladesh is one of the Countries most vulnerable to the effects of climate change, and Prime
Minister Hasina stressed the need for developed countries to take urgent action to reduce their
emissions She called on France to support Bangladesh's efforts to adapt to climate change and to
help the country mitigate its emissions.. The two leaders also agreed to work together to promote
the use of renewable energy and to develop climate-resilient infrastructure in Bangladesh.

In a joint statement issued after the meeting, the two leaders said that they were committed to
working together to address the "climate emergency" and to build a "sustainable future" for their
two countries and the world.

The climate change issue is a major challenge facing Bangladesh and France, and the cooperation
between the two countries on this issue is essential to finding solutions. The visit of Prime Minister
Hasina to France was a positive step in this direction.

Here are some of the specific commitments that were made by the two countries on climate change:

• France will provide financial assistance to Bangladesh to help it adapt to climate change.
• France will support Bangladesh's efforts to develop renewable energy.
• The two countries will work together to promote the use of climate-friendly technologies.
• The two countries will cooperate on research and development in the field of climate
change.

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The commitments made by France and Bangladesh are a positive step, but more needs to be done
to address the climate crisis. The two countries need to work together with other countries to reduce
greenhouse gas emissions and to help the most vulnerable countries adapt to the effects of climate
change.

There are a number of factors that are driving the growth of bilateral trade between Bangladesh
and France. These include:

• The growing demand for Bangladeshi goods in the French market, particularly ready-made
garments.
• The increasing investment by French companies in Bangladesh, particularly in the
infrastructure and energy sectors.
• The signing of a number of bilateral agreements between the two countries, such as the
Agreement on the Reciprocal Promotion and Protection of Investments and the Convention
on Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to
taxes on income.

The bilateral trade between Bangladesh and France has the potential to be much larger than it is
today. With the right policies and investments, the two countries can achieve their goal of
becoming strategic partners in the years to come.

The main products that are trade between Bangladesh and France

Bangladesh export product to France

Bangladesh primarily exports a variety of products to France. However, it's important to note that
export trends can change over time due to economic conditions, market demand, and other factors.
France Imports from Bangladesh was US$3.17 Billion during 2022, according to the United

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Nations COMTRADE database on international trade. The main products that Bangladesh
exported to France included:

France import from Bangladesh Value Year

Articles of apparel, knit or crocheted $1.82B 2022
Articles of apparel, not knit or crocheted $1.03B 2022
Footwear, gaiters and the like, $140.98M 2022
Other made textile articles, sets, worn clothing $98.17M 2022
Fish, crustaceans, molluscs, aquatics invertebrates $18.36M 2022
Furniture, lighting signs, prefabricated buildings $12.70M 2022
Toys, games, sports requisites $11.83M 2022
Headgear and $8.60M 2022
Carpets and other textile floor coverings $5.13M 2022
Optical, photo, technical, medical apparatus $4.12M 2022
Articles of leather, animal gut, harness, travel good $3.84M 2022
Manufacturers of plaiting material, basketwork $2.48M 2022
Plastics $2.24M 2022
Miscellanneous manufactured articles $1.45M 2022
Essential oils, perfumes, cosmetics, toiletries $740.29K 2022
Bird skin, feathers, artificial flowers, human hair $593.00K 2022
Edible vegetables and certain roots and tubers $492.59K 2022
Vegetable textile fibers not specified elsewhere, paper yarn,
$458.58K 2022
woven fabric
Raw hides and skins (other than furskins) and leather $454.31K 2022
Edible fruits, nuts, peel of citrus fruit, melons $414.14K 2022
Vehicles other than railway, tramway $384.69K 2022
Ceramic products $302.48K 2022
Beverages, spirits and vinegar $241.81K 2022
Cereal, flour, starch, milk preparations and products $241.52K 2022
Paper and paperboard, articles of pulp, paper and board $207.79K 2022
Machinery, nuclear reactors, boilers $177.70K 2022
Printed books, newspapers, pictures $164.91K 2022
Articles of iron or steel $150.08K 2022
Miscellaneous chemical products $100.04K 2022

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France import from Bangladesh Value Year
Clocks and watches $79.52K 2022
Meat, fish and seafood preparations $73.26K 2022
Vegetable, fruit, nut food preparations $68.54K 2022
Pearls, precious stones, metals, coins $65.10K 2022
Wadding, felt, nonwovens, yarns, twine, cordage $55.61K 2022
Copper $54.58K 2022
Electrical, electronic equipment $52.82K 2022
Aluminum $52.76K 2022
Miscellaneous edible preparations $42.84K 2022
Coffee, tea, mate and spices $42.72K 2022
Glass and glassware $37.22K 2022
Cotton $30.29K 2022
Miscellaneous articles of base metal $29.83K 2022
Animal, vegetable fats and oils, cleavage products $25.88K 2022
Special woven or tufted fabric, lace, tapestry $25.44K 2022
Knitted or crocheted fabric $22.81K 2022
Cereals $15.19K 2022
Sugars and sugar confectionery $13.30K 2022
Manmade filaments $11.22K 2022
Vegetable plaiting materials, vegetable products $7.78K 2022
Pharmaceutical products $7.64K 2022
Rubbers $6.50K 2022
Tools, implements, cutlery of base metal $5.60K 2022
Wood and articles of wood, wood charcoal $3.96K 2022
Furskins and artificial fur, manufactures $2.94K 2022
Manmade staple fibers $2.91K 2022
Albuminoids, modified starches, glues, enzymes $2.74K 2022
Oil seed, oleagic fruits, grain, seed, fruits $2.62K 2022
Aircraft, spacecraft $2.06K 2022
Musical instruments, parts and accessories $1.76K 2022
Silk $1.45K 2022
Milling products, malt, starches, inlin, wheat gluten $1.38K 2022
Organic chemicals $884 2022
Stone, plaster, cement, asbestos, mica or similar materials $740 2022
Impregnated, coated or laminated textile fabric $607 2022

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France import from Bangladesh Value Year
Soaps, lubricants, waxes, candles, modelling pastes $387 2022
Umbrellas, walking-sticks, seat-sticks, whips $161 2022
Works of art, collectors' pieces and antiques $115 2022
Railway, tramway locomotives, rolling stock, equipment $91 2022
Inorganic chemicals, precious metal compound, isotope $88 2022
Salt, sulphur, earth, stone, plaster, lime and cement $66 2022
Tanning, dyeing extracts, tannins, derivatives, pigments $66 2022
Cocoa and cocoa preparations $53 2022
Iron and steel $33 2022
Live trees, plants, bulbs, roots, cut flowers $29 2022
Ores slag and ash $27 2022
Tobacco and manufactures tobacco substitutes $164.04K 2021
Commodities not specified according to kind $15.34K 2021
Photographic or cinematographic goods $139 2021
Dairy products, eggs, honey, edible products $96 2021
Ships, boats, and other floating structures $93 2020
Wool, animal hair, horsehair yarn and fabric $86 2020
Products of animal origin $22 2020

Bangladesh import product from France

Bangladesh import product from France because Bangladesh is a growing economy with a large
population. This means that Bangladesh has a demand for these products. Additionally, the two
countries have a free trade agreement, which makes it easier and cheaper for French companies to
export their products to Bangladesh.

The export of these products from France to Bangladesh is beneficial to both countries. France
benefits from the increased sales of its products, while Bangladesh benefits from the increased
availability of these products. Additionally, the trade between the two countries helps to create
jobs and boost economic growth. France Exports to Bangladesh was US$254.32 Million during
2022, according to the United Nations COMTRADE database on international trade.

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France Export to Bangladesh Value Year

Machinery, nuclear reactors, boilers $79.28M 2022

Miscellaneous chemical products $22.38M 2022

Pharmaceutical products $21.48M 2022

Electrical, electronic equipment $19.88M 2022

Articles of iron or steel $15.21M 2022

Vehicles other than railway, tramway $12.00M 2022

Cereal, flour, starch, milk preparations and products $11.63M 2022

Organic chemicals $11.62M 2022

Optical, photo, technical, medical apparatus $9.53M 2022

Live animals $6.39M 2022

Plastics $5.77M 2022

Essential oils, perfumes, cosmetics, toileteries $5.07M 2022

Inorganic chemicals, precious metal compound, isotope $4.67M 2022

Ships, boats, and other floating structures $3.34M 2022

Residues, wastes of food industry, animal fodder $3.06M 2022

Miscellaneous edible preparations $2.58M 2022

Dairy products, eggs, honey, edible products $2.13M 2022

Aluminum $2.13M 2022

Pulp of wood, fibrous cellulosic material, waste $1.87M 2022

Vegetable textile fibers not specified elsewhere, paper yarn, woven fabric $1.75M 2022

Tanning, dyeing extracts, tannins, derivatives, pigments $1.14M 2022

Iron and steel $999.36K 2022

Animal, vegetable fats and oils, cleavage products $896.81K 2022

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France Export to Bangladesh Value Year

Soaps, lubricants, waxes, candles, modelling pastes $885.50K 2022

Explosives, pyrotechnics, matches, pyrophorics $807.72K 2022

Paper and paperboard, articles of pulp, paper and board $777.30K 2022

Sugars and sugar confectionery $648.37K 2022

Aircraft, spacecraft $550.19K 2022

Rubbers $475.74K 2022

Glass and glassware $425.67K 2022

Salt, sulphur, earth, stone, plaster, lime and cement $398.58K 2022

Meat and edible meat offal $393.49K 2022

Impregnated, coated or laminated textile fabric $354.34K 2022

Furniture, lighting signs, prefabricated buildings $322.21K 2022

Tools, implements, cutlery of base metal $302.66K 2022

Oil seed, oleagic fruits, grain, seed, fruits $297.03K 2022

Copper $294.50K 2022

Mineral fuels, oils, distillation products $290.92K 2022

Railway, tramway locomotives, rolling stock, equipment $271.46K 2022

Beverages, spirits and vinegar $239.64K 2022

Miscellanneous manufactured articles $213.86K 2022

Milling products, malt, starches, inlin, wheat gluten $192.91K 2022

Vegetable, fruit, nut food preparations $184.86K 2022

Meat, fish and seafood preparations $171.76K 2022

Manmade filaments $163.47K 2022

Printed books, newspapers, pictures $143.37K 2022

Lac, gums, resins $129.89K 2022

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France Export to Bangladesh Value Year

Edible fruits, nuts, peel of citrus fruit, melons $82.50K 2022

Wadding, felt, nonwovens, yarns, twine, cordage $73.47K 2022

Special woven or tufted fabric, lace, tapestry $61.85K 2022

Knitted or crocheted fabric $39.44K 2022

Ceramic products $36.70K 2022

Stone, plaster, cement, asbestos, mica or similar materials $36.14K 2022

Articles of apparel, knit or crocheted $31.80K 2022

Albuminoids, modified starches, glues, enzymes $30.23K 2022

Carpets and other textile floor coverings $26.28K 2022

Cotton $26.12K 2022

Miscellaneous articles of base metal $24.19K 2022

Coffee, tea, mate and spices $17.46K 2022

Nickel $16.71K 2022

Arms and ammunition, parts and accessories $9.58K 2022

Manmade staple fibers $7.34K 2022

Articles of leather, animal gut, harness, travel good $5.64K 2022

Raw hides and skins (other than furskins) and leather $4.86K 2022

Articles of apparel, not knit or crocheted $4.85K 2022

Lead $4.80K 2022

Photographic or cinematographic goods $4.50K 2022

Cocoa and cocoa preparations $4.45K 2022

Footwear, gaiters and the like, $1.60K 2022

Other made textile articles, sets, worn clothing $1.17K 2022

Pearls, precious stones, metals, coins $1.12K 2022

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France Export to Bangladesh Value Year

Wood and articles of wood, wood charcoal $1.08K 2022

Wool, animal hair, horsehair yarn and fabric $422 2022

Headgear and $314 2022

Cork and articles of cork $237 2022

Zinc $211 2022

Toys, games, sports requisites $169 2022

Bird skin, feathers, artificial flowers, human hair $15 2022

Clocks and watches $2 2022

Commodities not specified according to kind $126.16K 2021

Works of art, collectors' pieces and antiques $1.12K 2021

Musical instruments, parts and accessories $16 2021

Umbrellas, walking-sticks, seat-sticks, whips $287 2020

Base metals not specified elsewhere, cermets. $42 2020

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Trade Balance Between Bangladesh and France
From the inception of Bangladesh, France was most friendly country in the world. Although two
countries belong to two different continents and have long distance. They have strong relationship
with each other. France is the 5th largest export destination of Bangladeshi products. And
Bangladesh had 14311.6 crore taka export of products and services and 2020-2021 and 18622.9
crore taka in 2021-2022 Fiscal year (2023). That shows an upward trend of export year on year.
Bangladesh imported 1643.38 crore taka of goods and services in 2020-2021 and 1616.08 crore
taka for 2021-2022 (2023). These export and import figures show us the balance of trade which
are 12668.22 crore taka in 2020-2021 and 17006.82 crore taka in 2021-2022. That simultaneously
indicates a trade surplus and the volume of surplus is getting bigger year on year. It is expected
that this trend will continue further as the political, economic and social relationship between two
countries are stronger and it will be stronger further as a result of a visit of president of France Mr.
Emanuel Macron in Bangladesh.

Following is the figure of trade balance between Bangladesh and France.

Trade Balance Between Bangladesh and France

20000
18622.9
18000 17006.82

16000
14311.6
14000 12668.22
12000

10000

8000

6000

4000
1643.38 1616.08
2000

0
Export Import Trade balance
2020-2021 14311.6 1643.38 12668.22
2021-2022 18622.9 1616.08 17006.82
Figure Taka
1_Trade balance between Bangladesh and France .
in Crore

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The Investment Opportunities That Exist In Each Country For
Businesses.
Bangladesh is doing business with France for so long and there have been several bilateral trade
agreements between two countries. Both countries economic and political favorable position are
showing great opportunities for each other. As Bangladesh is on the edge of becoming middle
income country and there are many middle-income families and the per capita income of our
country people is also increasing that creates more opportunities for new employment. There are
several mega projects that have been completed (e.g. Dhaka elevated express way, Padma
multipurpose bridge, Karnafuli tunnel, Payra Deep sea port and so on) there are many under
construction that are expected to be completed within very short time. There are eight export
processing zone and several economic zone and few special economic zones that create facilities
for local and international company for doing business efficiently. For example, in Narayanganj,
Japanese company established a car assembling factory as there are available workforce with low
cost and there are many roads and waterways that well connect with the country’s main location
for example, SEA PORT, AIR PORT and so on. Bangladesh is currently exporting ready-made
garments which constitute 91.85% of total export in France and Home textile 2.51% which is kind
of garments product. 3.29% of total export is constituted by Leather and Leader Manufacturing
product. And rest Fish, Shrimps and Prawns, Jute Manufactures, Raw Jute, Handicraft and other
account for only small portion (2022). Here we can see Bangladesh is largely exporting Garments
products and Leather and Leather manufacture. This figure have been possible because of
availability of factors of production and favorable. France government can have the opportunities
to invest in these sectors. Besides these France can invest in the technology sector and become the
development partner of Bangladesh and create good for itself.

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 Export composition(2022)
100.00% 91.85%
90.00%
80.00%
70.00%
60.00%
50.00%
40.00%
30.00%
20.00%
10.00% 0.73% 2.51% 0.06% 3.29% 0.00% 0.07% 1.50%
0.00%

Figure 2_Export Composition (2022)

Bangladesh has small amount of import compared to export with France and the main import
composition consists of Machinery, Nuclear Reactor, Boiler 31.18%, Pharmaceuticals products
8.45%, Miscellaneous Chemical products 8.80%, Electrical, Electronic equipment 7.82%, Articles
of Iron or Steen 5.98% and so on (2022). An Ruppur, Pabna, Nuclear power plant is under
construction and so it will be operational and Bangladesh will need Nuclear Reactor which is being
imported from and it will be win-win situation for both country as there is a established supply
chain between two countries. Besides these, pharmaceutical industry in Bangladesh is growing so
rapidly than ever before and to meet the growing demand Bangladesh needs raw materials of
medicine along this people are becoming more affluent and careful about their health that boost
out pharmaceutical industry. As Bangladesh growing so fast, infrastructure Development is
becoming essential for this country and infrastructural development largely depend of steel and
iron which Bangladesh import from France. Above mentioned door of opportunities has been
available now it is the task of government and businesspeople and general citizens to avail this
opportunity and bring good for themselves.

Following is figure of the partial import composition from France for 2022

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 Import composition(partial_2022)
35.00%
31.18%
30.00%

25.00%

20.00%
8.45%
15.00%
1.01%
4.57% 2.51%
10.00% 8.80% 3.75%
7.82% 1.84%
5.98% 1.20%
4.72% 4.57%
5.00% 2.27%1.99% 1.31%
0.00%

Figure 3_Import Composition (Partial_2022)

So, it is crystal clear that bilateral relation between two countries is more stable and desirable.
Bangladesh and France should work on improvement of their relationship so that it last long.

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The recent agreements and MoUs signed between France and
Bangladesh to promote trade and investment-
Emmanuel Macron has stated his desire to invest in Bangladesh, which is thought to be a highly
promising market going forward. The president of France witnessed the signing of a deal during
his visit to facilitate loans to Bangladesh for infrastructure development as well as a letter of intent
to provide the South Asian nation with an earth observation satellite system in an effort to create
a more welcoming environment for foreign investment.

The initiatives taken by the two countries to improve their trade

relations

Following the recent visit of French President Emmanuel Macron to Bangladesh in March 2023,
both countries have taken a number of initiatives to improve their trade relations:

• Establishment of a France-Bangladesh Business Council: The council will serve as a

platform for businesses from both countries to network, collaborate, and explore new
opportunities.

• Memorandum of understanding (MoU) on trade and investment: The MoU was signed
between the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and
MEDEF International, the French employers' association. It aims to boost bilateral trade
and investment in a number of sectors, including infrastructure, energy, and manufacturing.

• Letter of intent on defense cooperation: The two countries signed a letter of intent to
further develop the defense and security component of their partnership. This could include
capacity building and technology transfer.

• Increased development assistance: France announced that it will provide €330 million to
Bangladesh in development assistance over the next five years. This will support projects
in areas such as climate change adaptation, urban development, and education.

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In addition to these initiatives, the two countries have also agreed to work together to:

• Reduce trade barriers and improve customs procedures.

• Promote trade in services.

• Support the growth of small and medium-sized enterprises (SMEs).

• Increase cooperation on climate change and sustainable development.

These initiatives are expected to help boost bilateral trade and investment between France and
Bangladesh. In 2022, bilateral trade totaled €4.9 billion, with France being the 5th largest export
destination for Bangladesh. France is also a major investor in Bangladesh, with investments in
sectors such as pharmaceuticals, textiles, and energy.

The recent visit of President Macron to Bangladesh is a sign of the growing importance of the
relationship between the two countries. The initiatives taken by both sides following the visit are
expected to further strengthen trade and investment ties, and contribute to the economic
development of both countries.

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The Challenges and opportunities that exist for the businesses from
Bangladesh and France in each other’s market.

The trade relationship between Bangladesh and France has been growing in recent years, and
business from Bangladesh and Franc can encounter a number of challenges and opportunities while
establishing a business.

Challenges for businesses from Bangladesh in the French market

Language barrier: French is the official language of France, and businesses from Bangladesh
will need to overcome the language barrier if they want to succeed in the French market. This may
involve hiring French-speaking staff or using translation services.

Cultural differences: France is culturally different from Bangladesh, and businesses from
Bangladesh will need to be aware of these differences if they want to operate businesses. For
example, the French are more formal than Bangladeshis, and they place a high value on customer
service. Understanding and adapting to French business, culture, equette, and communication
norm is crucial for building relationship and trust.

Tariffs and other trade barriers: A number of tariffs and other trade barriers can make it difficult
for businesses from Bangladesh to export to France. Businesses will need to carefully think about
these barriers before entering the French market.

Opportunities for businesses from Bangladesh in the French market

Large and growing market: France is a large and growing market in the world economy. France
is the fifth largest importer of Bangladeshi goods worldwide. This represents a significant
opportunity for businesses from Bangladesh to sell their products and services. So, there are scopes
for further promoting he economic ties.

Demand for Bangladeshi products and services: There is a growing demand for Bangladeshi
products and services in France. This is due to a number of factors, including the increasing

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affluence of the French population, the growing awareness of Bangladeshi brands, and the
reputation of Bangladeshi products for quality and value.

Free trade agreement: Bangladesh and France have a free trade agreement, which means that
businesses from Bangladesh can export their products to France without paying tariffs. This can
help to reduce the cost of doing business in France.

France also has some opportunities in term of operating businesses in Bangladeshi market.

Bangladesh is a large and growing market with a population of over 160 million people. This
shows a significant opportunity for France to sell their products and services in Bangladeshi
market. Nowadays, Bangladeshi consumers are increasingly demanding high-quality products and
services. This presents an opportunity for businesses from France to offer their products and
services to Bangladeshi consumers. The Bangladeshi government is trying to attract foreign
investment. This means that businesses from France can expect to receive government supports if
they decide to invest in Bangladesh.

Overall, there are both challenges and opportunities for businesses from Bangladesh and France
in each other's markets. Businesses that are willing to overcome the challenges and take advantage
of the opportunities can be successful in these markets.

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The impact of the recent visit of French president to Bangladesh on
the bilateral trade between the two country
The recent visit of the French President Emmanuel Macron to Bangladesh is expected to have a
positive impact on the bilateral trade relations between the two countries.

The two countries have made a deal to provide loans and satellite technology to Bangladesh. The
loan agreement signed by the two countries will help Bangladesh to finance infrastructure projects,
which will create demand for French goods and services. This will help to boost the country's
infrastructure and manufacturing sectors, which are major drivers of its economic development.

France also reiterated its commitment to facilitate trade with Bangladesh under the European
Union's Generalized Scheme of Preferences Plus (GSP+). The GSP+ status will give Bangladeshi
exporters preferential access to the European market, which is a major export destination for
Bangladesh. This will make it easier for Bangladeshi exporters to sell their goods in France.

They also agreed to work together on projects involving the impacts of climate change. Bangladesh
is one of the most vulnerable countries to climate change, and France has a lot of experience in
dealing with this issue. This cooperation could help Bangladesh to adapt to the challenges of
climate change and build a more sustainable future. The cooperation on climate change could lead
to new opportunities for French businesses to invest in Bangladesh.

Exporting manpower to France can be an area of discussion during Macron’s visit.

Overall, the recent visit of the French President to Bangladesh is a positive development for the
bilateral trade relations between the two countries. This new strategic movement between
Bangladesh and franc will play an effective role in establishing regional and global stability and
peace. It is expected to lead to increased trade, investment, and cooperation in a number of areas.

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Conclusion
In conclusion, the recent visit of French President Emmanuel Macron to Bangladesh marks a
significant milestone in the bilateral trade and diplomatic relations between the two countries. The
visit has opened up a plethora of opportunities and avenues for both Bangladesh and France,
signaling a promising future for their economic partnership.

One of the most noteworthy outcomes of the visit is the substantial increase in trade and investment
cooperation. The signing of various agreements, including the purchase of Airbus A350 aircraft,
signifies the growing economic ties between Bangladesh and France. This strategic move not only
strengthens Bangladesh's air connectivity and economy but also bolsters France's aerospace
industry, creating job opportunities and fostering economic growth.

Furthermore, the commitment to infrastructure development, food security, defense cooperation,

and satellite technology demonstrates the comprehensive nature of their partnership. France's
support in crucial infrastructure projects like the Padma Bridge and the Dhaka Metro Rail
underscores their commitment to Bangladesh's growth and development.

In the face of climate change, both countries have pledged to collaborate on climate-resilient
infrastructure and renewable energy projects, aligning their efforts to tackle the global climate
emergency. This cooperative approach not only benefits their own nations but also contributes to
addressing a pressing global challenge.

The trade balance between Bangladesh and France is witnessing a positive trend, with an
increasing surplus, indicating the robust demand for Bangladeshi products in the French market.
Additionally, the establishment of a France-Bangladesh Business Council and the signing of MoUs
on trade and investment are poised to create more opportunities for businesses from both sides to
thrive.

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While challenges such as language barriers and trade barriers exist, the potential for growth and
mutual benefit far outweighs these obstacles. Bangladesh's burgeoning middle-income population
and its expanding consumer market offer immense potential for French businesses, while France's
technological expertise and investment can greatly contribute to Bangladesh's development.

In essence, the recent visit of President Macron has set the stage for a deeper and more fruitful
economic partnership between Bangladesh and France. It is a testament to their commitment to
building a sustainable future, fostering economic growth, and addressing global challenges
together. As both nations continue to collaborate and invest in each other's markets, the prospects
for mutual prosperity are brighter than ever before.

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https://l.messenger.com/l.php?u=https%3A%2F%2Fwww.thedailystar.net%2Fnews%2Fbanglad
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Appendix
Figure 1_Trade balance between Bangladesh and France. ..................................................... 13
Figure 2_Export Composition (2022) ........................................................................................ 15
Figure 3_Import Composition (Partial_2022) .......................................................................... 16

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