On September 15, under the moderation of Coimex CEO Selhattin Urfalı, 3 Geography, 3 Speed, 3 Strategy events were held with the valuable participation of Bangladesh Ambassador Mosud Mannan His Excellency, Yeccima Director General Warmate Jones Idikio, Uncci Secretary General S. Kabagambe, Nairobi Trade Advisor Murat Can Kılınç, Baccima General Manager Sani Tahir Hamid and Mumbai Commercial Attaché Hüseyin Aydın.  

In the webinar, African, Indian and Turkish markets were evaluated. Developments and opportunities in trade relations with these countries were discussed. The subject of developing sales strategies was discussed. 

What Does the Bangladesh Market Promise?

Ambassador of Bangladesh, Mr. Mosud Mannan, greeted everyone who attended the meeting, opened the meeting and summarized the topics to be discussed. He continued his speech by explaining how Bangladesh gained its independence through the liberation war and inherited an economy to which the country was accustomed to its poverty.  

Bangladesh Ambassador Mosud Mannan’s main goal is to see the country prosper. For this reason, the Ambassador stated that they are constantly trying to improve both their economic situation and their social areas. Explaining that Bangladesh has managed to keep its GDP growth positive over the years, Ambassador stated that even after the pandemic, Bangladesh still has a GDP growth of 3.8%. The Economic Intelligence Unit announced that the country’s growth expectation for the next four years is 7.4% annually. Mannan also said that Bangladesh is one of the countries with the highest GDP per capita growth rate in Asia in 2020 and that Bangladesh’s GDP per capita grew by 9.1%, with Bangladesh having the highest GDP growth rate in South Asia. Stating that Bangladesh’s lands are fertile, Ambassador also announced that they will continue to give priority to agricultural growth in the coming years, as rice production is at an all-time high.  

The Ambassador stated in his speech that banking systems have changed since they left British rule. Stating that Bangladesh has moved from a state-controlled system to a market-based open economy using a stabilization, liberalization, and reorganization program, Ambassador also said that there are numerous new facilities and opportunities for those who want to do business with Bangladesh. According to Mr. Mosud Mannan, paperwork procedures have also become much faster and able to provide a skilled workforce. 

Which Products Can You Import and Export With Bangladesh?

In the export area, Bangladesh offers high-quality rice, seafood such as shrimp and fish, and although they have a high amount of rice for import, they sometimes want imported rice when production is low due to weather conditions in addition to onions and lentils. In addition to these, he stated that they are open to the import of fresh vegetables, fruits, and nuts. Ambassador Mr. Mosud Mannan also stated that although they are very popular in Bangladesh, cherries, and nuts cannot be grown in Bangladesh and this could be a good option for those looking for export opportunities. 

What are the Strong Products of the Nigerian Market?

Nigerian Yeccima Director-General Warmate Jones Idikio said at the beginning of his speech that Nigeria is the most populous country in Africa. He stressed that Nigeria is part of the MINC nations, a community that includes countries with great potential for economic development. Warmate Jones Idikio, who stated that the banking system in Nigeria is market-oriented, also stated that Nigeria’s GDP per capita is $1.116 trillion, its nominal GDP is about $514 billion, the human development index is 35.1 and the population density is 218 percent per kilometer. 

Yeccima Director-General, Warmate Jones Idikio, stated that their country is open to agriculture and Nigeria already imports high amounts of citrus, grapes, nuts, dates, figs, pineapples, avocados, cherries, peaches, and plums and will continue to import them.  

Sani Tahir Hamid, Managing Director of Baccima, said Nigeria is a major exporter of cocoa, cotton, palm oil, and palm kernels. Sani Tahir Hamid, who stated that Nigeria currently trades with more than 100 countries around the world, also stated that Nigeria has a total of 70.8 million hectares of land for agriculture, which they use to grow nutrients such as seeds, wheat, corn, rice, and yam. He said their main focus is rice production because they produced 5 million metric tons of rice this year, as in 2020. Stating that more than 45 percent of Nigerian citizens are engaged in agriculture, Sani Tahir Hamid underlined that Nigeria is also Africa’s third-largest cocoa producer. Stating that they exported 245 metric tons of cocoa only to India in 2020, Sani Tahir Hamid also stated that Nigeria also has 7 million hectares of land ready for mechanized agriculture, therefore they invite foreign investors and people who want to develop business relations to their fertile lands. Sani Tahir Hamid, who said that with this method, Nigeria guarantees that it will always offer export opportunities to its foreign investors, said that Nigeria has cement production and recycling options for those who want to establish small businesses. 

Stating that Nigeria started a program to encourage local milk production in the country at the beginning of February, Baccima Managing Director Sani Tahir Hamid said that,

Nigeria is inadequate in terms of modern storage facilities and distribution networks, as a result of which they tend to lose a significant amount of what they harvest. He also stated that another reason why they need modern storage facilities is their desire to import more.  

Kenya Offers Great Opportunities to Foreign Traders!

In his speech, Kenya Nairobi Commercial Counselor Murat Can Kılınç said that while talking about Kenya, he is talking about other countries in the region because these countries are similar to Kenya in many ways. Murat Can Kılınç said that in recent years, investors have started to turn their attention to Africa and that more and more investors are doing the same. He also said that Kenya is the most developed and largest economy in Middle East Africa, with Kenya contributing more than 50 percent of the East African community region’s GDP.  

Murat Can Kılınç emphasized in his speech that Kenya, which is a country dependent on agriculture, prioritizes nutrients in exports. Murat Can Kılınç stated that as a result, they exported a large amount of macadamia nut, pineapple, avocado, and coffee, and said that they also imported many foodstuffs. Murat Can Kılınç stated that sugary products, processed foods such as pasta, and fresh fruits such as apples and grapes are imported in large quantities in Kenya, adding that it is difficult to find apricots, figs, hazelnuts, peaches, and cherries in Kenya and that these products have small markets in the region.  

He said that in Kenya, they had no problems producing their own food until 2019, however, when the locusts emerged, the invasion had badly affected the country. Thereupon, Murat Can Kılınç, who said that Kenya had a difficult time in agricultural production and trade with the pandemic and drought, also stated that Kenya also had storage problems. Saying that Kenya needs modern food storage units, distribution systems, and product safety, Murat Can Kılınç also said that most of the packaged foods in Kenya are imported, such as pasta. He stated that although there is no pasta production in the country, there is demand and consumption and that the Kenyan government invites foreign investors to the country and the government offers reasonable prices to investors.  However, at the end of his speech; He also stressed the importance of being aware of the export verification procedure when exporting to Kenya.

In Foreign Trade, it is important to take the necessary steps completely and accurately as well as to know the market closely. Just knowing the market is not enough. Knowing what to do and how to do it gives you a great advantage in foreign trade. You can find the steps you need to take while exporting in 2021 in this article.

Comments are closed.