DCCI, Dubai Chambers sign MoU to boost trade

The Dhaka Chamber of Commerce and Industry (DCCI) and Dubai Chambers inked a memorandum of understanding (MoU) today to enhance bilateral trade and investments.

DCCI President Taskeen Ahmed and Dubai Chambers President and CEO Mohammad Ali Rashed Lootah signed the deal during a "Dubai-Bangladesh Business Briefing" at the latter's office in the United Arab Emirates (UAE).

The MoU focuses on enhancing business ties, organising business-to-business (B2B) matchmaking, encouraging joint investments, hosting trade meetings and exhibitions, and exchanging trade delegations.

Leading a 29-member business delegation, Taskeen Ahmed highlighted Bangladesh's competitive investment climate, including fiscal incentives, 100 percent foreign ownership, bonded warehouse facilities, and strong intellectual property protection.

He encouraged entrepreneurs of the UAE to invest in Bangladesh's logistics, renewable energy, fintech, financial, healthcare, IT, and tourism sectors.

Mohammed Lootah reiterated Dubai Chambers' commitment to supporting Bangladeshi businesses, highlighting that 8,686 Bangladeshi companies were registered as Dubai Chamber members.

He urged Bangladeshi firms to set up offices in the UAE to expand their reach in the Middle Eastern and African markets.

Former DCCI president Rizwan Rahman presented a proposal for a free trade agreement (FTA) between Bangladesh and the UAE, emphasising its potential to boost trade.

Omar Khan, head of Research and Data at Dubai Chambers, noted opportunities for Bangladeshi investors in processed food, data centres, healthcare, logistics, fashion design, and e-commerce sectors.

A B2B matchmaking session followed the event, connecting representatives from 50 Dubai Chambers' member companies with the DCCI delegation.

DCCI Senior Vice President Razeev H Chowdhury and Vice President Md Salem Sulaiman were present.