Bangladesh has congenial environment for investment: Turkish delegation

Bangladesh's policy, regulatory regime and overall business environment are congenial for foreign investment, said a visiting delegation from Turkey.

The delegation from Turkey-Bangladesh Business Council  came up with the remarks during a meeting with Dhaka Chamber of Commerce and Industry (DCCI) President Rizwan Rahman today.
The 14-member team is led by Hulya Gedik, chairperson of the council.

Turkey Ambassador to Bangladesh Mustafa Osman Turan accompanied the delegation. 
Addressing the meeting, the DCCI president said Bangladesh's export to Turkey was $499.79 million in fiscal year 2020-21.

In FY 2019-20, total trade with Turkey was $686.41 million, out of which Bangladesh's export was $453 million against the import of $233.41 million, reflecting a positive trade balance of $220.06 million in favour of Bangladesh, he said.

Rahman also said infrastructure, construction materials, railway, renewable energy, automobile, healthcare, medical equipment, shipbuilding, agriculture and home appliances are some of the potential areas for Turkish investment. 

He also called upon the Turkey-Bangladesh Business Council to facilitate bilateral trade and investment.

Chairperson of Turkey-Bangladesh Business Council and leader of the business delegation Hulya Gedik said Bangladesh is not much known to Turkish entrepreneurs due to a lack of communication and contact. 

She also stressed the need for sustainability of trade relations between Bangladesh and Turkey. 

Moreover, she said they have opened a 'Bangladesh Business Centre' in Turkey to facilitate Turkish entrepreneurs to know more on how to start business in Bangladesh.

The Turkish ambassador said Bangladesh is going to be a developed nation by 2041 and Turkey wants to be the 10th largest economy but without partnership these goals will not be achieved. 

He also said Bangladesh's ICT, pharmaceutical and light engineering sectors have good potential to attract FDI. 

In the last nine months of the current fiscal year, the bilateral trade volume increased about 20 per cent, Commercial Counsellor of Turkish Embassy Kenan Kalayci said.

He expected the bilateral trade between the two nations would reach the $2-billion mark soon.