Bangladesh and Hong Kong have long had a sourcing relationship built around garments. That relationship just took a step toward becoming something much bigger.
The momentum came during Commerce Minister Khandakar Abdul Muktadir’s visit to Hong Kong from September 8 to 11 for the 11th Belt and Road Summit, where he met with government officials, investment agencies and business organisations. The summit itself carried real weight, bringing together leaders from across Asia, the Middle East and other Belt and Road markets, with more than 60 memoranda of understanding expected and deals valued at over $3.1 billion.
The most concrete outcome for Bangladesh was the signing of the Hong Kong–Bangladesh Investment Promotion and Protection Agreement on September 9, signed by Minister Muktadir and Hong Kong’s Secretary for Commerce and Economic Development Algernon Yau. The agreement strengthens investor confidence through protections like fair treatment, protection against expropriation and the ability to freely transfer investments, along with mechanisms for resolving disputes. Beyond the IPPA, the Commerce Ministry identified stronger government-to-business engagement and new cooperation prospects in energy, technology, shipbuilding, jute, leather and aircraft maintenance as key outcomes of the visit.
For Bangladesh’s apparel sector specifically, Hong Kong’s role runs deeper than most people realize. Garment manufacturers depend heavily on imported raw materials, machinery and accessories, with China as a major source, and Hong Kong adds trading, financial and logistics capabilities on top of that. At the summit, Minister Muktadir called for greater cooperation in technology transfer, product diversification and faster production, even suggesting that artificial intelligence collaboration with Hong Kong and China could help make factories more productive.
But Bangladesh made it clear this isn’t just about garments anymore.
Hong Kong investors were invited to explore leather goods, high-quality jute products, shipbuilding and ship recycling, while discussions with Invest Hong Kong also touched on renewable energy and aircraft maintenance. A ‘Jute Corner’ was even inaugurated at the Bangladesh Consulate General in Hong Kong, part of a push to move the country’s traditional fibre into higher-value applications.
Trade diversification matters here too. Bilateral trade stood at around $415 million in FY2024-25, with Bangladesh importing about $307 million and exporting just $108 million, a figure that rose marginally to around $109.5 million in FY2025-26. The minister called for greater exports of fresh fruits, jute and leather goods to help close that gap and reduce dependence on garments alone.
The opportunity also extends beyond Hong Kong itself. Officials highlighted the Greater Bay Area, linking Hong Kong with Shenzhen, Guangzhou and Macao, while the Northern Metropolis was presented as an emerging platform for artificial intelligence, logistics and technology, with Bangladeshi companies invited to consider establishing operations there.
Bangladesh also raised the possibility of examining a Hong Kong–Bangladesh Free Trade Agreement, though this remains a proposal to study rather than a negotiated deal. Closer institutional cooperation is already being planned too, with regular meetings and trade fairs proposed between trade bodies on both sides, and Hong Kong’s Trade Development Council inviting Bangladesh to its Asian Financial Forum in January 2027. Practical issues came up as well, visa delays for Bangladeshi businesspeople, requests for faster processing and the early resumption of direct flights between Hong Kong and Dhaka. The investment agreement provides the framework, and the Belt and Road Summit provided the platform. What happens next depends on whether both sides can turn these proposals into actual investment and
