Commerce Minister Tipu Munshi has urged Canada to set up an edible oil refinery in an exclusive economic zone (EEZ) as Canada produces huge canola quality edible oil.
He made the call when Canadian High Commissioner in Dhaka Dr Lilly Nicholls met him at his secretariat office on Wednesday.
The minister said: “Bangladesh imports edible oil worth $2 billion every year. Canada can take this market advantage by setting up an edible oil refinery which can be exported to neighboring countries as there is also a huge market.”
He added that Canada is also a big market for Bangladeshi ready garments where export volume is over $1 billion annually.
In response, Dr Lilly said that Canada is keen to enhance trade and investment with Bangladesh.
Tipu also sought Canadian cooperation in agricultural research and innovation.