‘Bangladesh failing to expand in Middle East’s halal market for poor infrastructure’
Bangladesh could not develop Halal business outreach due to limited infrastructure to utilize the potentials of the market in the Middle Eastern region, speakers said in a webinar today.
Moreover, technological know-how and financial cooperation for setting joint venture Halal certification and testing institutes are needed, they said.
The commerce ministry and Dhaka Chamber of Commerce and Industry (DCCI) jointly organised the webinar styled "Shaping Business Landscape: Economic Cooperation of the Middle East and Bangladesh" on Thursday.
They also observed that economic diplomacy should be strengthened by Bangladesh to ensure labour supply in Gulf countries.
There is no bilateral and multilateral Free Trade Agreements (FTA) with Middle Eastern countries to increase the trade imbalance of Bangladesh, speakers said.
Mashiur Rahman, the economic affairs adviser to the prime minister, said Bangladesh's economic transformation is very fast. "Our growth has been stable and steady. He also underscored chamber to chamber relation to boost trade."
K Mahmood Sattar, chairman of RSA Advisory and RSA Capital Ltd, said Bangladesh is a good place for the Middle East to invest in the Halal product sector.
Tajwar M Awal, director of Lal Teer Seed Ltd, said Qatar imports vegetable worth Tk 1.5 million per year and Bangladesh can tap this market of Qatar and Oman as well.
Abdulla Ali Al-Hamoudi, acting ambassador of the United Arab Emirates (UAE) Embassy in Dhaka, said, "Collaboration and partnership would expand our bilateral trade. We want to expand the business, we want to deepen engagement through strategic partnership."
To strengthen bilateral trade relations, the Bangladesh-UAE business council may be formed in near future, he said.
DCCI President Rizwan Rahman in his brief presentation said Bangladesh imports 19 per cent of its required mineral resources from Middle Eastern countries. Moreover, unskilled Labor is a challenge for labour supply in the Middle Eastern countries, he added.
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