The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has stated that Bangladesh and Turkey could serve as gateways for trade and business between Europe and South & Southeast Asia.
FBCCI President Mahbubul Alam made the comment while addressing a visiting delegation from the Foreign Economic Relations Board of Turkiye (DEIK) and the Turkiye-Bangladesh Business Council on Monday (13 May) at the FBCCI Icon, Motijheel in Dhaka, reads a press release.
"Bangladesh and Turkey offer huge untapped potentials of trade and business. Turkey's unique geographic position, straddling both Asia and Europe, positions it as a bridge between the two continents. Similarly, Bangladesh, situated at the foothills of the Himalayas, serves as the gateway to regions like ASEAN and SAARC. Thus, both Bangladesh and Turkey could serve as gateways for trade and business between Europe and South & Southeast Asia," stated the FBCCI president.
Mahbubul Alam emphasized that the relationship between Turkey and Bangladesh is rooted in strong historical and cultural ties. Today, both nations have expanded beyond traditional relations into a prosperous trade and investment partnership.
In the fiscal year 2022-23, Bangladesh's exports to Turkey stood at US$ 495.81 million, and imports from Turkey stood at US$ 380.3 million. Currently, 15-20 large Turkish companies are directly operating in Bangladesh in various sectors such as garments & textiles, accessories, chemicals, engineering, construction, and energy. Additionally, more than 100 Turkish companies have representatives in Bangladesh. These companies have significantly contributed to job creation, brought expertise in manufacturing, construction, and engineering, and diversified trade for Bangladesh.
Mahbubul Alam highlighted that the present government of Bangladesh has been working tirelessly to bolster the economic growth of the country. The government has taken visible and prudent steps in implementing the SDG goals 2030, the national vision 2041, and a Delta Plan -2100. Bangladesh offers a favorable investment policy with tax exemptions, Duty Drawbacks, access to working capital, and many more incentives, he added.
The FBCCI President also expressed optimism about future cooperation between the two countries, suggesting areas such as pharmaceuticals, tourism, jute, and technology where Turkish investments could thrive. He also called for the activation of trade promotional activities and proposed cooperation in developing high-tech products and tourism infrastructure.
The visiting delegation was led by the Chairperson of the Turkiye-Bangladesh Business Council Hidayet Onur Ozden. He expressed his fondness for Bangladesh, stating, "Bangladesh is like a second home country to me. We have been operating businesses in Bangladesh for a long time. There are many opportunities to strengthen bilateral trade between the two countries. The trade and business ties between Bangladesh and Turkey are improving day by day, and it is time to bolster the economic prosperity of the two nations."
The Ambassador of Turkey to Bangladesh, Ramis Sen, appreciated the recent infrastructural development in the country and invited Bangladesh business leaders to visit Turkey in the upcoming months.
FBCCI Senior Vice President Md. Amin Helaly said, "Bangladesh offers huge investment potential for Turkish investors. The country will be the 9th largest consumer market in the world by 2030. Turkish businesses can seize this opportunity to operate in Bangladesh. FBCCI will be more than willing to help where needed."
Among others, FBCCI Vice President Dr. Joshoda Jibon Deb Nath, FBCCI Directors, Secretary General Md. Alamgir, Distinguished Members of the delegation from DEIK and Turkiye-Bangladesh Business Council, and business dignitaries from different sectors of Bangladesh were present at the meeting."
