Bangladesh remains the most optimistic market according to the HSBC Navigator Survey on 34 countries. The countries included were the US, the UK, Canada, Brazil, Mexico, France, Germany, Italy, Spain, Russia, Switzerland, Turkey, Australia, China, Malaysia, Singapore and Vietnam. The survey, conducted by Kantar TNS, takes into account the responses of over 8650 businesses from small to mid to large market firms. 200 Firms were surveyed in Bangladesh over the period of June to September. Last year Bangladesh became the top country out of 25 countries regarding global trade prospects.
Bangladesh continues to see benefits from the two most efficient engines of the economy- Remittance and Apparel Export. Even though there is growing trade tension in the global economy, Bangladesh sees rise in the domestic demand basing on these two pillars of economy.
94% of the respondents are optimistic on the prospects of global trade as risks of disruption on economic activity seems lesser than 2014’s. Bangladesh sees India and China as a lucrative market where it can expand their business as the relation of Bangladesh and these countries are more friendly than ever before. It is followed by Germany which replaced Japan in the 3rd slot for key market for Bangladesh. Some Chinese firms are looking forward to expanding their operations in Bangladesh.
Bangladesh will definitely benefit more from the global apparel market as it has a large population working in the industry and the supply chain has grown strong over the years. Consequently, performance in the fast fashion and lead time has improved.
Bangladesh has made strong investment in infrastructure which has led to growing interest in Bangladesh by China. Chinese investors are also inclined to make equity investment in Bangladesh. All-in-all, a great future waits for Bangladesh with the current stability and infrastructure development.
Bangladesh remains the most optimistic market, The Daily Star, December 9, 2018