Wednesday, 27 October, 2021

Dhaka, Abuja look to forge trade partnership


  • Diplomatic Correspondent
  • 1 October, 2021 12:00 AM
  • Print news
Dhaka, Abuja look to forge trade partnership

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A top Nigerian business delegation discussed with Bangladesh High Commissioner in Abuja about the possible ways of forging trade between the two nations.

The discussion was held as the National President of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) delegation paid a courtesy visit to the Bangladesh High Commission in Nigeria’s capital on Wednesday.

NACCIMA president Ide John C. Udeagbala led the delegation during the meeting with High Commissioner Masudur Rahman.

They discussed a wide range of issues with special emphasis on enhancing trade between the two countries.

Bangladesh envoy highlighted the existing friendly relations with Nigeria in various international and regional arenas, as he outlined the growing trade potentials between Bangladesh and Nigeria.

He urged the NACCIMA, the apex trade body of Nigeria, to work together to tap the possible areas of cooperation, especially in pharmaceuticals, textiles and garments, contract farming and agro-processing, fertilizers, ICT, livestock, light engineering and electronics.

Masudur Rahman informed the delegation about Bangladesh’s development journey in recent time under the leadership of Prime Minister Sheikh Hasina. A Memorandum of Understanding (MOU) between Bangladesh’s top trade body FBCCI and NACCIMA was signed during the visit.

High Commissioner expressed hope that both Bangladesh and Nigeria could finalize the pending MoU on Avoidance of Double Taxation, left with Nigerian side soon.

He urged the NACCIMA president to channel the possibilities of signing an MoU on Promotion and Reciprocal Protection of Investment between the two countries.

Bangladesh High Commissioner invited the Nigerian businessmen and traders to engage in trade relations with Bangladeshi different sectors including pharmaceuticals, garments and textiles and IT products.

He also urged the traders to import leather products, ceramics, light engineering and electronics products etc. from Bangladesh.

High Commissioner offered all possible cooperation in the areas of enhancing bilateral trade and investment.

High Commissioner flagged the need for arranging trade missions, organizing webinars and exchanging business directories between the two countries’ top business bodies.

NACCIMA president focused on the bilateral framework between the two countries.

Ide Udeagbala expressed his appreciation over the signing of the MOU between the FBCCI and the NACCIMA, echoing the need for activating it. 

He offered support for expediting signing of the MOU on avoidance of double taxation and for floating MOU on reciprocal promotion and protection of investment.

He also noted that these would help facilitate trade missions, sharing of up-to-date information on viable investment opportunities, products, services, exhibitions, B2B meetings and exchange of project information between both countries.

He said the private sector operators led by the FBCCI and the NACCIMA could work together to increase the volume of trade.

In that respect, he categorically put emphasis on the sectors like agriculture, MSME development in garments, textile and pharmaceuticals, where Bangladeshi entrepreneurs could invest and gain a preferential treatment under the AGOA and other relevant regional and bilateral trading arrangement for Nigeria.

He expressed his keen interest to forge partnership in the areas of garments and textiles as well as poverty alleviation and employment generation projects too.

Later, NACCIMA delegation visited “Bangabandhu Corner” housed in the High Commission and paid deep homage to the Father of the Nation Bangabandhu Sheikh Mujibur Rahman.

During the meeting, Md. Anisur Rahman, Counsellor (Consular) and Bidosh Chandra Barman, Counsellor (Political) were present

NACCIMA president was accompanied by six high profile members of body.