Egypt urged Bangladeshi importers to increase their purchases of Egyptian petrochemicals and fertilizers. The Ambassador also highlighted that an Egyptian company has already invested successfully in Bangladesh’s telecommunications sector.
The Ambassador of Egypt to Bangladesh, Omar Mohie Eldin Ahmed Fahmy made the call during a meeting with Dhaka Chamber of Commerce & Industry (DCCI) President Ashraf Ahmed at the DCCI on Tuesday, reads a press release.
Welcoming the Ambassador, DCCI President Ashraf Ahmed highlighted the success of Bangladesh's frozen food, shrimp, and mango exports to global markets, including Europe, and emphasised similar opportunities for these products in Egypt.
He invited Egyptian entrepreneurs to consider importing products and services from Bangladesh, including those in Information Technology (IT), leather, ready-made garments, ceramics, and medicine.
Ashraf Ahmed also called for Egypt's support and technical expertise in developing Bangladesh’s river-based tourism industry.
The DCCI President suggested that Bangladesh could serve as a gateway to South and Southeast Asia for Egyptian exports.
He encouraged Egyptian investors to explore opportunities in Bangladesh’s economic and export processing zones and emphasised the need for stronger bilateral trade relations and the signing of memorandums of understanding between trade organizations of both countries.
Ashraf Ahmed also proposed organising targeted sector-specific business-to-business meetings between investors from both nations.
Ambassador Omar Mohie Eldin Ahmed Fahmy noted that despite a 50-year diplomatic relationship, commercial ties between Bangladesh and Egypt have not yet reached their potential, with bilateral trade for the fiscal year 2022-23 totaling only $180.55 million.
He urged Bangladeshi importers to increase their purchases of Egyptian petrochemicals and fertilizers. The Ambassador also highlighted that an Egyptian company has already invested successfully in Bangladesh’s telecommunications sector.
Fahmy pointed out that Bangladesh's pharmaceutical industry is growing rapidly, with a strong demand for cancer drugs in Egypt, presenting an opportunity for Bangladeshi entrepreneurs. He suggested that Bangladesh could use Egyptian ports as a 'transshipment hub' for exporting products to Europe and other regions and noted that Egypt could serve as an alternative source for onions to meet Bangladesh's demand.
The meeting was attended by DCCI Senior Vice President Malik Talha Ismail Bari, Vice President Md. Junaed Ibna Ali, and the Deputy Chief of Mission of the Egyptian Embassy, Soheila Mahran.
