Bangladesh should tap trade potential with Indonesia, says FBCCI chief
Featured activity report
Mon Jan 3, 2022 6:39 PM Last update: Mon Jan 3, 2022 6:44 PM
Bangladeshi Ambassador to Indonesia Vice Air Marshal Mohammad Mostafizur Rahman paid a courtesy visit to FBCCI President Md Jashim Uddin at his office on Monday. Photo: Collected
“>
Bangladeshi Ambassador to Indonesia Vice Air Marshal Mohammad Mostafizur Rahman paid a courtesy visit to FBCCI President Md Jashim Uddin at his office on Monday. Photo: Collected
The government should take the lead in harnessing the potential of bilateral trade with Indonesia, said Md Jashim Uddin, president of the Bangladesh Federation of Chambers of Commerce and Industry (FBCCI).
He made the call during a courtesy visit paid by the Bangladeshi Ambassador to Indonesia, Vice Air Marshal Mohammad Mostafizur Rahman to the FBCCI office.
For all the latest news, follow the Daily Star’s Google News channel. He also urged the envoy to take initiatives for Indonesia to also invest in the economic zones of Bangladesh.
During the meeting, the ambassador said that the Bangladeshi government is keen to be a sector dialogue partner of Indonesia.
As the tariff and tax structure in Indonesia is relatively simple, it will be easier for Bangladeshi exporters to conquer the market, he said, adding that Indonesian entrepreneurs are keen to invest in Bangladesh through joint ventures in the pharmaceutical sectors. and SMEs.
A delegation led by the Indonesian Minister of Industry or Trade is expected to visit Bangladesh this year to explore the prospects for bilateral trade and investment, a press release from the FBCCI said.
Negotiations are also underway on a preferential trade agreement (PTA) with Indonesia, Rahman said.
In fiscal year 2020-21, imports-exports between Indonesia and Bangladesh amounted to $ 1.9 billion, representing huge potential for further growth. Indonesia has a large market for Bangladeshi medicines, agricultural products, poultry, jute and leather goods and footwear, according to the press release.