DCCI for joint economic commission with Turkey
Dhaka Chamber of Commerce and Industry (DCCI) has suggested to form a joint economic commission with an active participation of private sectors for increasing trade between Bangladesh and Turkey.
Rizwan Rahman, president of the DCCI also asked to find out if there is any tariff and non-tariff barriers in terms of exporting to Turkey from Bangladesh.
Rahman was speaking at an event on "Exploring trade and investment opportunities between Bangladesh and Turkey" organised by Foreign Economic Relations Board of Turkey (DEIK) on September 29, 2022 at a city hotel in Istanbul, Turkey, according to a statement from the DCCI.
An 86-member business delegation of the Dhaka Chamber led by its President Rizwan Rahman is visiting Istanbul with a view to exploring new horizon of trade and investment opportunities and attract Foreign Direct Investment to Bangladesh.
He invited Turkish carpet makers to import quality jute from Bangladesh.
Rahman also termed RMG value chain, automotive, leather and footwear, pharmaceutical, plastic, and infrastructure as potential sectors for Turkish entrepreneurs in Bangladesh.
Ambassador of Turkey in Bangladesh Mostafa Osman Turan said Bangladesh is a land of opportunities.
But it is not well known in Turkey. Bangladesh is giving different fiscal and non-fiscal incentives to the foreign investors, he added.
He also said that at present bilateral trade has crossed $1.3 billion and it has potential to grow further.
Bangladesh's market is a large market and Turkish investors may explore this opportunity. Infrastructure development, policy reforms and ease of business registration process will attract Turkish investors in Bangladesh, he said.
Ambassador of Bangladesh in Ankara, Mosud Mannan said that the existing bilateral trade has the potential to reach to $2 billion.
But for that, private sectors of both the countries need to play a catalytic role.
He also said that the language barrier between the two countries in terms of business can be overcome.
He also said that Bangladesh government will establish 100 economic zones with different lucrative packages and that will foster foreign investors to come and invest in Bangladesh.