Bilateral Relations between Bangladesh and Guinea Bissau


Bilateral Relations between Bangladesh and Guinea Bissau


Political Relations: Since establishment of the diplomatic relations on 30 September 1973, Bangladesh has been enjoying friendly bilateral ties with Guinea Bissau based on shared common positions on various issues on international and regional platforms. Bangladesh shares one commonality with Guinea Bissau that both countries got the membership of the United Nations on the same day in 1974. At present, Bangladesh Embassy in Lisbon is concurrently accredited to Guinea Bissau. As a non-resident Mission, Embassy of Bangladesh has been maintaining rapport with the Embassy of Guinea Bissau in Lisbon to for further strengthening the bilateral relations with the country. As part of consolidating the bilateral relations between the two countries, Bangladesh’s first non-resident Ambassador to Guinea Bissau presented his credentials to the President of Guinea Bissau on 27 April 2021.


Trade, commerce and investment relations: There has been no formal interaction between the business bodies of the two countries. However, there are couple of business companies that are operating businesses between the two countries since long. Last couple of years’ trade records reveal that Guinea Bissau imports mainly consumer products from Bangladesh. The import from Bangladesh most of the happens through third country. Had there been any formal business consultative mechanism, the bilateral trade could have expanded further. Given the competitiveness of Bangladesh in the global market, Guinea Bissau can import quality goods at affordable price from Bangladesh such as readymade Garments, pharmaceuticals, ceramics, electronics, ICT products, bicycles/motorcycles and even ships. Statistics of the export to Guinea Bissau shows that 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 Guinea Bissau till date are ready made garments, jute products, vegetables, sugar, nuts etc. The statistics of Bangladesh’s export to the country are given below:


Fiscal Year

Export

(USD)

2012-2013

25,876.14

2013-2014

984,299.77

2014-2015

1,086,166.72

2015-2016

1,27,273.86

2016-2017

1,225,906.55

2017-2018

972625.62

2018-2019

1564138.99

2019-2020

1805390.8

2020-2021

1809729.4

2021-22 (July-March)

1356776.15














                                                                                                                                                                                                                                                                                                                                                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 a high possibility that  bilateral trade and investment would increase.