Published : 07 Oct 2026, 01:18 PM
Updated : 07 Oct 2026, 01:18 PM
Bangladesh wants to increase bilateral trade with Indonesia to more than $10 billion, with Commerce Minister Khandakar Abdul Muktadir calling for greater exports and progress on a long-stalled preferential trade agreement.
Muktadir said market-access barriers need to be removed and Bangladesh's exports of ready-made garments, pharmaceuticals and agricultural products expanded to narrow the large trade imbalance between the two countries.
The issues came up during a meeting between Muktadir and Indonesian Deputy Foreign Minister Muhammad Anis Matta at the Ministry of Commerce on Wednesday.
"Bangladesh imports about $3.5 billion worth of goods from Indonesia," the commerce minister said.
"Meanwhile, Bangladesh exports only about $56 million worth of goods to the country. Bangladesh needs to increase its exports to reduce this trade deficit.
"If market-access barriers are removed, it is possible to increase trade between the two countries to more than $10 billion."
The meeting also covered the proposed preferential trade agreement (PTA), a Comprehensive Economic Partnership Agreement (CEPA), energy cooperation, mutual recognition of halal certificates, and access to the Indonesian market for Bangladeshi potatoes, medicines and vaccines.
Muktadir said Bangladesh produces pharmaceuticals to international standards and exports them to more than 100 countries.
He sought Indonesia's cooperation in easing procedural complications, including drug registration requirements, to help increase Bangladeshi pharmaceutical exports to the Indonesian market.
Matta welcomed a proposal to organise a standalone exhibition of Bangladeshi pharmaceutical products in Jakarta and assured Bangladesh of cooperation in arranging the event.
Bangladesh and Indonesia have held four rounds of talks on the PTA but have yet to agree on duty-free market access for ready-made garments. The negotiations have been stalled since 2023.
Matta acknowledged competition between the textile and garment industries of the two countries but said the problems needed to be identified and steps taken to resolve them.
He proposed a ministerial-level meeting between the two countries during the international trade fair in Indonesia from Oct 14-18. He also invited Muktadir and a Bangladeshi delegation to attend the event.
Indonesian Ambassador to Bangladesh Listyowati and other officials from the two countries also attended the meeting.
