Bangladesh’s apparel makers have called upon Saudi Arabia to invest more in the country. They made the call last week when a high-powered business delegation of Saudi Arabia visited Dhaka to discuss bilateral trade opportunities and met with Government officials, Bangladeshi businessmen and several trade platforms.
A special meeting was held at a hotel in Dhaka on December 6, organised by Federation of Bangladesh Chamber of Commerce and Industries (FBCCI). Top officials of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) also attended the meeting.
Insiders say BGMEA officials highlighted Bangladesh as a ‘land of opportunities’.
BGMEA Vice President (Finance) Mohammed Nasir, First Vice President Sheikh Fazle Fahim, and Commerce Minister Tofail Ahmed were also present in the meeting.
Prior to the business meeting, the Saudi delegation held separate rounds of talks with Commerce Minister Tofail Ahmed and Finance Minister AMA Muhith during the visit.
After meeting the delegation, the Commerce Minister said to have told the media: “Bangladesh is still among the Least Developed Countries. It still enjoys duty- and quota-free trade benefits.” Ahmed said he urged the Saudi Arabian delegation to invest in Bangladesh to reap the benefits.
He also stressed on the trade of ICT, medicine, leather, jute, plastic, furniture and frosted food items for export to Saudi Arabia.
The Saudi delegation was said to have been interested in big investment in Bangladesh in the areas of electricity, solar panel and fertiliser factory. Any investment in the garment sector is yet to be decided.
Finance Minister Muhith told the local media that trade ties with Saudi Arabia were less structured in the past and hoped that the visit would give a concrete structure and expand the business relationship with the country.
In a press release issued today, Mohammed Nasir, BGMEA Vice President, said: “Though we have a longstanding friendship with Saudi Arabia, our bilateral trade still remains largely insignificant. This means that we have opportunities to enhance our bilateral trade, and we have to give more efforts to realise these opportunities.”
