Addressing a luncheon meeting with the business leaders, she also urged Dhaka's business community to explore the Philippines as a viable market for Bangladeshi products.

The country's apex business body, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), hosted the luncheon meeting for the visiting foreign minister and business delegation accompanying her at Sonargaon hotel yesterday.

FBCCI President Abdul Awal Mintoo chaired the meeting attended by Philippine Ambassador Jose Lino B Guerrero, envoys of other Asean countries and senior government officials.

The Philippine foreign minister categorically mentioned that one of the three key agendas of her visit is fostering business ties between the two countries and expediting economic co-operation.

Delia called upon the businesspeople to re-examine how Philippine products, which are not produced in Bangladesh, can be tapped by Bangladeshi importers for the local market.

The visiting minister told the meet that despite having so much room for improvement, the bilateral trade remained embarrassingly low.

"Total trade (between Dhaka and Manila) in 2003 was only $ 9,649,254 or the average price of a house in Beverly Hills," she said repeatedly asking the business community to strengthen the bilateral trade.

The top five exports and imports between Bangladesh and the Philippines were industrial manufactures, resource-based products, consumer manufacturers, special transactions, food and food preparations.

To expedite the bilateral trade, Delia invited FBCCI President Abdul Awal Mintoo to visit Manila. She also praised Bangladesh's women entrepreneurs and suggested them to exploit the Philippine market.

Addressing the meeting, Mintoo emphasised reactivating the joint co-operation agreement between the Philippine Chamber of Commerce and Industry and the FBCCI signed on December 15, 1989.

While terming Dhaka-Manila bilateral trade insignificant, she said there are huge opportunities to augment the trade volume between the two countries who have excellent political relations.

"Bangladesh is virtually located at a mid-point between emerging markets of South Asia and fastest-growing markets of Southeast Asia and Asean countries. Bangladesh has the potential to be an entry point to the region," said the FBCCI President.

He also sought investment from the Filipino entrepreneurs. In this respect, he also elaborated on various fiscal incentives for FDI being given by the government.