Bangladesh should harness trade potential with Indonesia: FBCCI chief
The government should take initiative to harness the potential of bilateral trade with Indonesia, said Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
He made the call in a courtesy call paid by Bangladesh Ambassador to Indonesia Air Vice Marshal Mohammad Mostafizur Rahman at the FBCCI office.
He also urged the envoy to take initiative so that Indonesia also invests in the economic zones of Bangladesh.
In the meeting, the ambassador said the Bangladeshi government is keen to be a sectoral dialogue partner of Indonesia.
As the tariff and tax structure in Indonesia is relatively simple, it will be easier for Bangladeshi exporters to capture the market, he said, adding that Indonesian entrepreneurs are interested to invest in Bangladesh through joint ventures in the pharmaceutical and SME sectors.
A delegation led by Indonesia's industry minister or commerce minister is expected to visit Bangladesh this year to explore bilateral trade and investment prospects, said a press release of FBCCI.
Negotiations are also underway on a preferential trade agreement (PTA) with Indonesia, Rahman said.
In the 2020-21 fiscal year, the import-export between Indonesia and Bangladesh stood at $1.9 billion, which has a huge potential for further growth. Indonesia has a large market for Bangladeshi medicines, agricultural products, poultry, jute and leather goods and footwear, according to the press release.
Comments