To this end, the Embassy of the UAE in Dhaka has drafted a roadmap
The United Arab Emirates (UAE) is keen to increase their bilateral trade with
Bangladesh to $10 billion by 2030, a top official at the UAE Embassy in
Dhaka said on Sunday.
To this end, the Embassy of the UAE in Dhaka has drafted a roadmap.
Economic Analyst at the UAE Embassy, Altap Hossen, said this speaking at
a programme, “UAE-Bangladesh Business Ties: Present Status and Future
Opportunities,” at the Hotel Royal Paradise in the capital.
“We identified a minimum of 10 products from Bangladesh for export to the
UAE. The products include knitwear, woven garments, home textiles, leather
goods, ceramics, agricultural, jute, and plastic goods,” Altap said at the
programme.
On the other hand, Bangladesh can import mineral products like LNG and
LPG, chemicals, rubbers, Aircrafts and ships and other products from the
UAE, he added.
He said a joint business chamber will be established this year for the
expansion of trade between the two countries.
Next year, Dubai will arrange a World Expo 2020, where Bangladeshi
products will be showcased on a priority basis, Altap said.
“Currently, the size of bilateral trade between the two countries is $1.13
billion. All efforts will be made to take it to $2 billion by 2021, $5 billion by
2025, and $10 billion by 2030,” he added.
Focusing on investment, he said the UAE currently has an investment of $7.8
billion in Bangladesh, which will increase over time.
Executive Chairman of Bangladesh Investment Development Authority
(BIDA), Kazi M Aminul Islam, was the chief guest while UAE Ambassador to
Bangladesh, Saed Mohammed Al-Mheiri, presided over the program.
Business leaders and concerned government officials from two countries
were present at the occasion.
The UAE Ambassador in his speech said his country is keen to deepen
bilateral relations with Bangladesh on all fronts, including business and the
economy.
‘‘We would like to extend our hand to businessmen of both countries to
increase the trade volume,” Mheiri added.
Referring to the recent visit of Prime Minister Sheikh Hasina to the UAE last
month, he said the visit strengthened the brotherly ties further.
During the visit, several MoUs were signed between the governments and
private sectors of the two countries.
‘‘Many more UAE companies are also keen to invest and do business in
different sectors in Bangladesh’’ he continued.
On the occasion, Aminul Islam urged the UAE to invest Bangladesh.
“We now have special economic zones, export processing zones, and high
tech parks for foreign investment,” Aminul said.
Referring to a number of research studies, the BIDA chairman said corporate
profitability is the highest in Bangladesh compared to other peer countries
like India, Vietnam, and Thailand.
Deputy Chief of Mission of the UAE Embassy in Bangladesh, Abdulla Ali
ALHmoudi, Managing Director of Intraco Group, Mr. Mohammed Riyadh
Ali, Emirates Airlines Country Manager Saeed Abdulla AL Miran, Vice
President of Dhaka Chamber of Commerce and Industry (DCCI), Imran
Ahmed, Chairman and Managing Director of AL Haramain Perfumes, and
Chairman NRB Bank, Mohammed Mahtabur Rahman, spoke on the
occasion.
Source: The Dhaka Tribune, Bangladesh Monday, 25 March 2019