Saturday, 4 December, 2021

Dr. Mashiur for improving relations among business communities

Prime Minister's Economic Advisor Dr Mashiur Rahman underscored the need for improving the chamber to chamber relation to boost trade.

He also mentioned that Bangladesh’s economic transformation is very fast and the growth has been stable and steady. So it is a very good time to invest in the infrastructure sector in Bangladesh, he added.

Dr Mashiur made the remarks in a webinar on “Shaping business landscape: economic cooperation of Middle East and Bangladesh” held on the 3rd day of Bangladesh Trade and Investment Summit 2021 organized jointly by Ministry of Commerce and Dhaka Chamber of Commerce and Industry (DCCI) , said a press release. 

Mashiur said `Sophisticated technological products, API and generic pharmaceutical market are another potential sector to invest in and to enter into a market, it is evitable to know the market first,' he added. 

DCCI President Rizwan Rahman said that limited diversification of RMG and export products are challenges for export growth in the Middle Eastern countries and Bangladesh imports 19 percent of its required mineral resources from Middle Eastern countries. 

He also said that Economic Diplomacy should be strengthened by Bangladesh to ensure labour supply in Gulf countries. 

Middle Eastern countries can source diverse skilled and semi-skilled professionals in different sectors from Bangladesh to support their growing economic operations, he added. 

UAE Acting Ambassador to Bangladesh Abdulla Ali Al Hmoudi said,` collaboration and partnership will expand our bilateral trade. We want to expand business and we want to deepen engagement through strategic partnership.'

 To strengthen bilateral trade relation, Bangladesh-UAE business council may be formed in near future, he added.
Managing Director of  Plummy Fashions Ltd. Fozlul Haque said the UAE imports clothing worth of USD 2.5 billion every year and the GCC countries import clothing worth of USD 5.3 billion but our share is less than 1 percent.

As the Middle Eastern market is more or less untapped for Bangladesh, he invited the Middle Eastern countries to import more from Bangladesh as there are more than 150 green factories here.

Managing Director of Saudi Industrial Export Company Sulaiman Al Jedaie said that they are interested to invest in the food processing sector in Bangladesh and export to Latin American and African market.
Country Director of DP World, Bangladesh Shamim Ul Huq said the growth of Bangladesh is phenomenal. There are massive scopes of increasing bilateral investment between Middle East and Bangladesh.
Chairman of RSA Advisory and RSA Capital Ltd. K Mahmood Sattar said Bangladesh is a good place for Middle East to invest in Halal product sector.
Director of Lal Teer Seed Ltd. Tajwar M Awal said that they are currently exporting seeds to the Middle Eastern countries. 

Middle Eastern countries can invest in the agriculture sector here in Bangladesh, he added.

He also said Qatar imports vegetables worth of USD 1.5 million per year and Bangladesh can tap this market of Qatar and Oman as well.