Turkey keen to invest in Bangladesh’s agro-industry, light engineering, ICT

Publish: 7:35 PM, February 2, 2021 | Update: 7:35:PM, February 2, 2021

DHAKA, – Turkish companies could invest or collaborate jointly in some potential areas of Bangladesh like agro-industry, light engineering, pharmaceuticals, ICT, ship building, energy and household appliances.

Ambassador of Turkey to Bangladesh Mustafa Osman Turan expressed such interest when he met Dhaka Chamber of Commerce and Industry (DCCI) President Rizwab Rahman at the DCCI today, said a press release.

“We want to rebrand Turkey in Bangladesh,” said the Ambassador. Osman said Turkey mostly imports jute from Bangladesh for their carpet industry while half of their total import which is about $300 million constitutes jute from Bangladesh.

Noting that Bangladesh’s agriculture sector is being modernized and experiencing a digital transformation now, he termed this sector as a very potential one for joint collaboration. The release said that the bilateral trade between Bangladesh and Turkey did not decline that much despite the COVID-19 pandemic.

DCCI president Rizwan Rahman said that Bangladesh has emerged as Turkey’s third largest trade partner in South Asia with a total trade volume of $705 million in FY 2018-19.

He also proposed to hold a bilateral virtual B2B meeting to promote private sector investment. Rizwan requested Turkey through the Embassy to withdraw anti-dumping duty on yarn from Bangladesh imposed on October 16, 2018.

The DCCI president said the total trade volume of both the countries in fiscal year 2019-20 was $686.88 million, which does not reflect the actual trade potential of these two friendly countries. He reiterated that more interaction and communication among the Turkish business bodies and Bangladeshi business community will enhance bilateral trade volume in the future.

DCCI Senior Vice President NKA Mobin, Vice President Monowar Hossain and Commercial Counselor of Turkish Embassy Kenan Kalayci were present, among others, during the meeting.