Dhaka, Budapest to float JTC to boost economic ties

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Publish: 6:10 PM, September 10, 2020 | Update: 6:10 PM, September 10, 2020

Dhaka, Budapest to float JTC to boost economic ties

DHAKA, – Dhaka and Budapest will constitute a joint trade commission (JTC) soon to explore the opportunities of cooperation in the fields of trade and economy and other priority areas.

The information was reveled today in the bilateral meeting between Commerce Minister Tipu Munshi and Foreign and Commerce Minister of Hungary Peter Szijjarto at the Commerce Ministry in the city, said a press release.

During the meeting, they discussed on various bilateral issues, including trade and commerce of the two countries.

In his speech, Tipu said the formation of a joint trade commission between the two countries will make it easier to identify trade and investment opportunities. “Bangladesh would welcome Hungarian investment in agro-food processing, pure water management and pharmaceutical sectors. Besides, there are a lot of opportunities to invest in ICT and service sectors,” he added.

He said Bangladesh has long trade relations with Hungary and there is a lot of opportunity to increase trade and investment between the two countries. Under the direction of Prime Minister Sheikh Hasina, the work of setting up 100 special economic zones in different parts of the country is progressing fast, he added.

In the meantime, he said, Japan, India, China, Korea and other countries have come forward to invest in the country. In the changing world trade situation, many countries, including USA and Japan are showing interest in setting up their factories in Bangladesh, he added.

He said countries now consider Bangladesh a suitable place to invest.

Peter Szijjarto said Hungarian businessmen and investors are keen to increase trade in Bangladesh. “A Joint Trade Commission (JTC) can be formed for this purpose. Hungary is interested in investing in Bangladesh’s pure water management and pharmaceutical sectors,” he added.

He said Bangladesh’s agro-based industry has the opportunity to provide modern technology and machineries. The opportunities for investment in Bangladesh are attractive, Hungary wants to take advantage of all these opportunities, he added.