International Trade and Finance Report with Conclusion

Chapter 1: Introduction

1. Origin

The report prepared for the requirement, of course, F-305, International Trade and Finance under the academic supervision of the course introducer, Kamrul Hasan Hridoy, Lecturer, Department of Finance. ‘Analysis on Bangladesh-Australia & Bangladesh-New Zealand Trade  Relationship’ is our topic for this report.

1. Purpose

The primary purpose of this report is a partial fulfillment of “International Trade and Finance” course requirement. The secondary purpose is to find out the activities and position of Bangladesh in international business and its relationship with Australia & New Zealand.

1. Scope

The scope of this study is the website of WTO, articles published by various reputable figures and newspapers.

1. Methodology

Information was gathered from the following sources while preparing this report: Primary data: Internet and newspaper resources were used as primary source of data and Secondary data: TV news as a secondary source.

1. Limitations

Although there are many types of research regarding international business and Bangladesh, the reports are full of ambiguity and biased. Moreover, the data regarding international trade between Bangladesh and Australia, Bangladesh and New Zealand was very hard to find. This report can be presented more carefully if there was more time.

Chapter 2: Bangladesh-Australia Trade Relationship

2.1 Bangladesh - Australia Trade Relations

Australia is one of the important trading partners for Bangladesh with bilateral trade of over one billion US dollar annually. Two-way export and import linkages are the key elements in bilateral relationship between Bangladesh and Australia. Although balance of trade remains slightly in favor of Australia, the two-way trade is increasing steadily. Bangladesh enjoys duty and quota free access to the Australian since July 2003 subject to the fulfillment of Rules of Origin (RoO) criteria.

Bangladesh’s export to Australia mainly consists of readymade garments, woven fabrics, knitwear, textile manufactures, home textile, leather goods and footwear, processed food, fish, jute goods etc.

Major Australian export consists of wheat, vegetables, lentil and pulses, milk cream and other dairy products, cotton, fertilizers, oil seeds, primary plastic products, machinery and transport equipment, scraps and some other industrial raw materials.

2.2 Economic and Trade Relationship

In 2016-17, two-way trade grew to reach over $2 billion with imports from Australia valued at $1103 million & export was $998 million. Principal merchandise imported were vegetables, cotton, fertilizers and agriculture. The main exports were clothing and textiles. Since 1 July 2003, products from Bangladesh enter Australia duty-free and quota-free.