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Turkey-Bangladesh trade has high potential

Says DCCI president as a large delegation visits Turkey

  • Special Correspondent
  • 30 September, 2022 12:00 AM
  • Print news
Turkey-Bangladesh trade has high potential
Dhaka Chamber of Commerce and Industry (DCCI) President Rizwan Rahman speaks at a Turkey-Bangladesh business forum organised by the Istanbul Chamber of Commerce in Turkey on Wednesday.

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Bangladesh and Turkey have a high potential and prospect of mutual trade and investment, said Dhaka Chamber of Commerce and Industry (DCCI) President Rizwan Rahman.

The remarks came as an 86-member DCCI business delegation led by the chamber’s president is visiting Istanbul, Turkiye to explore new trade and investment opportunities.

The DCCI president made the remarks while attending a Turkey-Bangladesh business forum organised by the Istanbul Chamber of Commerce on Wednesday.

In the welcome address, Burhan Polat, Executive Board Member of the Istanbul Chamber of Commerce, said that Bangladesh and Turkey have maintained a friendly bilateral trade relation since long.

He said Bangladesh is one of the important countries in the South Asian region in terms of trade and investment and Bangladesh is maintaining a steady economic growth for the last few decades.

Bangladesh should increase its export basket and the volume, he said, adding, the Turkish market is one of the potential places for the Bangladeshi entrepreneurs.

Bangladesh in recent times is doing better in the leather, pharmaceutical, RMG and light engineering sector, he informed. Polat urged the both countries to sign a trade agreement to boost bilateral trade.

He stressed enhancing liaison between the private sectors of these two countries.

Istanbul Chamber is one of the largest trade organisations in the world having more than 6 lakh members.

DCCI President said that the bilateral trade between Bangladesh and Turkey was $871.55 million in FY 2020-21 which is in favour of Bangladesh.

“But the volume is not to the expected level. Turkey is the 23rd largest export destination of Bangladeshi goods as Turkey is the 29th largest foreign investor in Bangladesh amounting to $30.51 million.” Rizwan Rahman also said that Bangladesh and Turkey can work and advocate together to form an effective D-8 economic bloc.  He urged Turkey to transfer state-of-the-art industrial technology and build capacity for small and medium enterprises (SMEs), facilitate research collaboration, strengthen agro-value chain and knowledge exchange.

He also said that the existing bilateral trade volume does not reflect the actual trade potential between these two friendly countries.  DCCI chief invited Turkish investors to invest in Bangladesh as well as import more from Bangladesh.

Later, the business delegation members of DCCI had an interactive business to business matchmaking with more than 350 Turkish companies of different manufacturing and service sectors after the business forum.