For those of us in the trading and shipping business, Asia is a continent to keep an eye on. Besides the booming development of China and India, there are many countries in this part of the globe that, while still plagued by socio-economic issues, are experiencing a phase of significant growth and are coming more and more into the spotlight of the international trading scene.
One such example is Bangladesh, which has been long associated in our minds with extreme poverty, but has been working tirelessly in recent years to take its place as an active player on the international chessboard and eradicate its deep-seated issues of social inequality and government corruption.
As an importer, Bangladesh sees shipments coming in chiefly from other Asian countries, China and India most of all; as an exporter, it sends mainly to the US and to European countries, with Italy being its sixth most frequent destination overall.
Shipments move between Italy and Bangladesh in both directions, though the total volume is not equal: Italy imports from Bangladesh far more than it exports to it. The products from Bangladesh that are in highest demand on the Italian market are mainly textiles and leather, as well as produce such as rice, vegetables and tobacco; on the other hand, the greatest potential for Italian exports to Bangladesh, which has not yet been fully explored, lies in machinery for the food and textile industries.
While the major rating agencies consider Bangladesh a high-risk country for investments, there are measures in place to make it more appealing to foreign traders, among which are a cheap and relatively simple process to start a new company in the country, and the existence of Export Processing Zones, or EPZs, where taxation on imports and exports is absent or minimal.
In light of this information, let us focus on a prime opportunity to create meaningful business connections between our countries: a direct sea shipping route is now available from Chittagong, Bangladesh, to Ravenna, Italy.
It takes 18 days to complete the route; with 1,400-TEU-ship capacity sailing monthly, space availability will be the least of your problems if you choose to take this opportunity.
Containers can be customs cleared in Ravenna and from there they can be shipped to all over Italy.
We at Global Shipping are proud to help you stay up to date with the latest trends in the business, and we hope you will continue to rely on us as your trustworthy partner for all your shipping needs.