A very good trade relation is prevailing between Bangladesh and the Netherlands. This relation has been further enhanced as the Netherlands has guaranteed Bangladesh that the Dutch buyers will not cancel or suspend their orders from the Bangladeshi garment factories during the global COVID-19 pandemic.
In a recent call meeting between Sigrid Kaag, Minister for Foreign Trade and Development Cooperation, Netherlands assured AK Abdul Momen, Foreign Minister of Bangladesh, Sigrid assured Dutch buyers will not cancel or suspend their orders from the Bangladeshi readymade garment (RMG) factories.
And the Dutch government will ensure that the RMG value chain will not be disrupted.
In the meeting, Abdul Momen expressed concerns about other European countries and brands canceling orders and said that $3.18 billion worth of orders have already been canceled or suspended by international brands/buyers, affecting 1,150 factories and 2.28 million workers.
Minister Sigrid Kaag informed that the Dutch govt. had set up a fund of 100 Million Euros to help countries that need support because of the COVID-19 pandemic. And countries that are interested to use the fund would need to appeal for provision.
Momen thanked Minister Kaag for the Dutch backing to Bangladesh on developing the Bangladesh Delta Plan 2100 and wanted continued support, which was guaranteed by the Dutch minister.
On the issue of FDI, Bangladesh foreign minister mentioned that FDI would be negatively affected by the COVID-19 pandemic, and demanded Dutch technical assistance in FDI in the areas of agriculture and fisheries.
According to recent data, total apparel export from Bangladesh to the Netherlands was 986.93 million in 2018. The Netherlands has been supporting Bangladesh through providing financial and technical aid to water resources and coastal management projects in Bangladesh. It is also assisting Bangladesh in enhancing its business enabling environment. Almost 85% of the exports to the Netherlands are apparel products.