The Significance of Inquiry Contract Performance
An inquiry is the starting point of an export consultation — the moment a foreign buyer expresses interest in a Korean company's products and reaches out about pricing, specifications, or trade terms. The KOTRA Dhaka Trade Post connects Bangladesh buyers' inquiries to Korean exporters and supports the full journey from consultation and negotiation through to contract closing.
The 4th cumulative record of 21+ closed contracts represents the number of inquiries relayed by the Dhaka Trade Post that resulted in confirmed orders or signed agreements. This figure demonstrates that real demand for Korean products exists in the Bangladesh market — and that systematic inquiry management translates directly into measurable export outcomes.
Contract Performance by Product Category
Breaking down the 21 contracts from the 4th cumulative round by product category reveals the product groups where real buyer demand has been validated in Bangladesh. Garment machinery and cosmetics lead the ranking, followed by food, IT, and medical devices.
| Product Category | Inquiries | Contracts | Rate | Avg Value | Key Products |
|---|---|---|---|---|---|
| Garment Machinery | 22 | 7 | 32% | $18,000 | Thread, needles, accessories |
| Cosmetics & Beauty | 18 | 5 | 28% | $12,000 | Skincare, sheet masks |
| Food & Beverage | 12 | 4 | 33% | $14,000 | Noodles, snacks, sauces |
| IT & Software | 10 | 3 | 30% | $20,000 | ERP, security solutions |
| Medical & Healthcare | 8 | 2 | 25% | $16,000 | Diagnostic kits, consumables |
Key Drivers of Conversion Rate
Even when receiving the same inquiry, company-level conversion rates vary dramatically — from as low as 15% to over 50%. A comparative analysis of response patterns between companies that closed contracts and those that did not reveals the decisive factors driving conversion.
Inquiry Handling Process
This section outlines the standard process from inquiry receipt through contract closing via the KOTRA Dhaka Trade Post, including key activities, timelines, and responsible parties at each stage.
Strategies to Improve Inquiry Conversion Rates
The 21+ contracts achieved in the 4th cumulative round prove that real demand for Korean products exists in Bangladesh — and that a structured response approach can deliver consistently high conversion rates. The keys to success are speed and preparation: a 24-hour response policy, English materials always on hand, and rapid sample dispatch. Companies that commit to these three principles significantly increase the probability of converting inquiries into real export revenue. Engage actively with the KOTRA Dhaka Trade Post's inquiry relay service to create your first Bangladesh export success story.