Spain-Bangladesh International Trade for Small and Medium Enterprises: Exploring the Potential Scopes
Dr. Ramón Sanguino Galván , Md. Habibur Rahman , Samsul Alam Abstract
There exists no adverse relation between Spain and Bangladesh instead it is seen rare international as well as bilateral relation of these two countries and we found scopes for engaging international trade for both of the countries. Spain is a country capable of producing for example, a lot of electronic products. In Bangladesh, there are growing demand for some of the top listed goods like vehicles, machineries and more. The surplus of these goods if any, exported to that country, a huge foreign currency may be achieved and thus the country may be financially benefited to cope with the existing market recession. On the other hand, there are some top listed exporting goods of Bangladesh including clothing, labor, leather, and more. Spain might get economic advantage to some extent from international trade with Bangladesh. Thus, from both side export-import trade relationship of these Small and Medium Enterprises (SMEs), both countries can be economically benefited and thus Spain can get solution for reducing existing recession to some extent and Bangladesh can find a feasible solution to achieve the vision 2021 of digital Bangladesh and 2041 of being a developed country in the world. Again, there will be a bilateral relationship between these two countries. This study attempts to justify the relevance and feasibility for Spain of the goods to be exported to and imported from Bangladesh. The findings of this qualitative study show that there are possible scopes and fields to make a big deal between Spain and Bangladesh and thus the international trade for SMEs would positively contribute to the economic development of the both parties.
Keywords: International Trade, Economic Development, Economic Recession, SME, Spain, Bangladesh