The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) is to establish the Joint UAE-Bangladesh Business Council in Dubai to harness trade and investment potential in the Middle East, Africa and Europe.
The business council will be inaugurated during Prime Minister Sheikh Hasina’s visit to Dubai next month.
During the inaugural ceremony, the FBCCI will highlight Bangladesh’s sectoral investment and export prospects, according to a press release.
A preparatory meeting held at the FBCCI on Saturday revealed this information.
FBCCI President, Md Jashim Uddin, said: “The establishment of the Business Council with the Federation of Chambers of Commerce and Industry of the United Arab Emirates would facilitate the capture of the export market of the Middle East and the United Arab Emirates. Africa”.
Jashim Uddin believes that this initiative by FBCCI will create an opportunity to explore new markets for Bangladesh in the post-PMA period.
Naser Ezaz Bijoy, President of the Chamber of Commerce and Industry of Foreign Investors, recommended that five sectors be included in the presentation of the FBCCI during the opening ceremony of the council.
Sectors include agricultural and halal food products, light engineering, especially automotive parts, financial sector, petrochemicals and port management.
Syed Muntasir Mamun, director general of the international trade and investment wing of the Ministry of Foreign Affairs, recommended seeking UAE investment in ICT, ITES, artificial intelligence, private equity, l aviation, maritime transport and value-added agro-services.
On the other hand, the director of FBCCI, Abul Kasem Khan, highlighted the potential for investment in the tourist reception sector and in the private port sector.
He also demanded that Bangladeshis be given the opportunity to invest in Dubai.
Khandaker Golam Moazzem, research director of the Center for Policy Dialogue and adviser to FBCCI, said the UAE is currently looking for a global strategic partner for development.
In this context, the country recently signed a free trade agreement with India. Bangladesh should also sign an FTA with the United Arab Emirates, he added.
Channel I Chief Information Officer and FBCCI Panel Advisor Sheikh Siraj said there is a huge demand for Bangladeshi vegetables and seeds in the UAE. To take advantage of this potential, joint initiatives can be taken in nursery and food processing. .
He said the two countries should also work together to create a skilled workforce and obtain halal food certificates.
Among others, FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President Md. Habib Ullah Dawn, MA Razzak Khan Raj, Director Syed Almas Kabir and Dr. Nadia Binte Amin, DCCI President Rizwan Rahman , BPGMEA President Shamim Ahmed and FBCCI Secretary General Mohammad Mahfuzul Hoque also attended the meeting.
