Leaders of the Dhaka Chamber of Commerce and Industry (DCCI) observed that Bangladesh needs promotional campaigns in Turkiye to attract Foreign Direct Investment (FDI).
They made the observation at a forum on ‘Exploring trade and investment opportunities between Bangladesh and Turkiye’ organised by the Foreign Economic Relations Board of Turkiye (DEIK) on Thursday at a hotel in Istanbul, according to a BSS report that cited a press release issued in Dhaka on Friday.
An 86-member business delegation of the DCCI, led by its President Rizwan Rahman, is now visiting Istanbul, Turkiye with a view to exploring a new horizon of trade and investment opportunities and attracting FDI to Bangladesh.
During the meeting, Chairman of the DEIK Onur Ozden said Bangladesh's economy has progressed a lot in the last few decades and made the country one of the most potential countries in the world.
"Turkish entrepreneurs are already in operation in Bangladesh and the others are very keen to explore these possibilities further. But the bilateral trade between these two countries should be increased and for that exchange of such business delegations would be the best option," he added.
Ambassador of Turkiye in Bangladesh Mostafa Osman Turan said Bangladesh is a land of opportunities. "But it is not well known in Turkiye. Bangladesh is giving different fiscal and non-fiscal incentives to the foreign investors," he added.
He said Business to Business (B2B) in that case plays a vital role in enhancing trade and investment.
He also said that at present bilateral trade has crossed US$1.3 billion and it has the 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 added.
Ambassador of Bangladesh in Ankara Mosud Mannan said that the existing bilateral trade has the potential to reach $2 billion.
But for that, the private sector of both the countries needs to play a catalytic role, he added.
He also said that despite there is a language barrier between the two countries but still it can be overcome, he said.
He said that the Bangladesh government will establish 100 economic zones with different lucrative packages and that will foster foreign investors to come and invest in Bangladesh.
DCCI President Rizwan Rahman said that even in the Covid-19 time Bangladesh's export did not fall down rather the export grew by 34.38 per cent till June 2022.
He said that Bangladesh has a good demographic dividend and the total working age people is 65 per cent in Bangladesh.
Turkiye-Bangladesh Business Council was established in 2011 and Bangladesh-Turkiye Business Forum was established in 2022, he mentioned.
Moreover, he said, both the countries are member states of D8 and OIC.
He later suggested forming a joint economic commission with the active participation of the private sector.
More than 110 companies invited by DEIK joined an interactive B2B session with the DCCI business delegation members after the business forum.
At the end, a memorandum of understanding was signed between DCCI and Istanbul Gedik University.
DCCI President Rizwan Rahman and President, Board of Trustees, Istanbul Gedik University Hulya Gedik signed the document on behalf of their respective organisations.