Bilateral Relations of Bangladesh and Cabo Verde


Bilateral Relations of Bangladesh and Cabo Verde


Political Relations: Since establishment of the diplomatic relations, Bangladesh has been enjoying friendly bilateral ties with Cabo Verde based on shared common positions on a wide range of issues of mutual interest on international and regional platforms. Bangladesh Embassy in Lisbon is concurrently accredited to Cabo Verde. As a non-resident Mission, Embassy of Bangladesh has been maintaining rapport with the Embassy of Cabo Verde in Lisbon to further strengthening the bilateral relations with the country. As part of consolidating the bilateral relations between the two countries, Bangladesh’s third non-resident Ambassador to Cabo Verde presented his credentials to the President of Cabo Verde on 17 March 2022.

Trade, commerce and investment relations: Any interaction between the business associations of the two countries is yet to take place. Though there is no formal business consultative mechanism and economy of Cabo Verde is rather small, bilateral trade has been showing generally an upward trend year to year. Trade between the two countries over the last couple of years has largely been in favour of Bangladesh. The main export items of Bangladesh to Cabo Verde till date are ready made garments, pharmaceuticals and chemicals. The statistics of Bangladesh’s export to the country are given below:


Fiscal Year

Export

(USD)

2012-2013

25,876.14

2013-2014

27,554.10

2014-2015

91,320.37

2015-2016

11,449.53

2016-2017

 344,888.77

2017-2018

641,208.07

2018-2019

749,421.02

2019-2020

432,775.74

2020-2021

127,433.8

2021-22 (July-March)


101,539.03















Source: Export Promotion Bureau (EPB)

If business persons and entrepreneurs of the two countries engage more effectively with one another through dialogue and exchange of visits, there is good possibility that  bilateral trade and investment would increase. The Cabo Verde government is interested to appoint a Honorary Consul in Bangladesh with a view to promoting the business relations with Bangladesh.