- Zambia invites Bangladesh to invest in a pharmaceutical manufacturing plant.
- Zambia’s High Commissioner Percy P. Chanda met Foreign Adviser Md Touhid Hossain in Dhaka.
- The meeting covered trade in pharmaceuticals, jute, copper, and agriculture.
- Zambia seeks Bangladeshi pharmaceutical and jute products, while Bangladesh considers importing copper.
- Both nations discussed strengthening bilateral ties and future trade collaboration.
Zambia has invited Bangladesh to establish a pharmaceutical manufacturing plant in the country, aiming to enhance its access to high-quality and affordable medicines. This proposal was put forward during a meeting between Zambia’s newly appointed High Commissioner to Bangladesh, Percy P. Chanda, and Foreign Adviser Md Touhid Hossain at the Ministry of Foreign Affairs in Dhaka.
During the meeting, Chanda emphasized Zambia’s growing demand for pharmaceutical products and expressed interest in importing medicines from Bangladesh. The discussion also explored broader economic cooperation, including trade in jute, copper, and agricultural products.
Strengthening Trade Relations
Zambia is keen to increase trade with Bangladesh, particularly in pharmaceuticals, jute, and agricultural products. The African nation, rich in mineral resources, proposed exporting copper to Bangladesh. In return, Bangladesh could supply Zambia with jute and jute-based products, which are in high demand due to their eco-friendly nature.
Both countries discussed potential investments in agriculture and contract farming. Zambia, with its vast agricultural land, presents an opportunity for Bangladeshi investors to engage in large-scale farming. The meeting underscored the need for stronger bilateral trade agreements to facilitate smoother transactions and economic growth for both nations.
Why Bangladesh’s Pharmaceuticals Industry is Attractive
Bangladesh has emerged as a global leader in pharmaceutical production. With over 150 countries importing medicines from Bangladeshi manufacturers, the sector has seen rapid expansion. The country’s pharmaceutical exports surpassed $200 million in 2023, with projections indicating steady growth.
Zambia, like many African nations, faces challenges in healthcare access. Establishing a Bangladeshi pharmaceutical plant within its borders could significantly reduce costs and improve medicine availability. Such an investment would align with Zambia’s vision of enhancing local pharmaceutical production while ensuring affordable healthcare for its citizens.
A Growing Partnership in Trade and Agriculture
Bangladesh, a leading jute producer, sees Zambia as a great market for its eco-friendly jute products. As the world shifts toward sustainable materials, Zambia’s interest in Bangladeshi jute matches its environmental goals. This trade opportunity could benefit both countries in the long run.
Zambia, on the other hand, is one of the top copper producers, earning about 70% of its export revenue from copper mining. Bangladesh’s expanding industrial sector needs more raw materials. Importing Zambian copper could support its electrical and manufacturing industries, creating a mutually beneficial trade relationship.
Agriculture plays a vital role in both economies. Contract farming could open new doors for Bangladeshi investors in Zambia’s fertile lands. Investing in irrigation, farming infrastructure, and food processing could improve agricultural output in both nations, strengthening their economic ties.
Bangladeshi investors could explore maize, wheat, and vegetable farming in Zambia. At the same time, Zambia could learn from Bangladesh’s expertise in rice production. This knowledge exchange could boost food security and promote agricultural development in both countries.
The Path Forward
Chanda and Hossain’s discussions took a big step toward stronger economic ties between Bangladesh and Zambia. Both leaders agreed on the need for open dialogue and smoother trade processes. Their commitment to continued discussions could lead to new opportunities for both nations.
Bangladesh promised to support Zambia’s efforts in different sectors, while Zambia views Bangladesh as a key economic partner. Strengthening diplomatic ties and signing trade agreements could create long-term benefits. A solid partnership would help both countries grow their economies and expand their global reach.
Zambia’s invitation for a Bangladeshi pharmaceutical plant marks a new phase of cooperation. Both nations can benefit from trade in pharmaceuticals, jute, copper, and agriculture. Moving forward, structured agreements and smart investments will be essential to unlocking the full potential of this partnership.