BGMEA hopeful of expanding Bangladesh-Iraq trade, investment

Last Updated on August 22, 2023 8:42 am

A delegation of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) headed by President Faruque Hassan met Iraqi Trade Minister Atheer Daoud Salman Al-Ghariri at the latter’s office yesterday.

Ambassador of Bangladesh to Iraq Fazlul Bari was also present at the meeting.

During the meeting, they had discussions about possible ways of boosting bilateral trade and investment between Bangladesh and Iraq.

They also discussed how business interactions could be stepped up to enable businessmen and investors of both countries to identify potential sectors and make investment for mutual benefits.

BGMEA President Faruque Hassan apprised the trade minister of Bangladesh’s increasing focus on infrastructure development, especially mega projects to upgrade road and rail connectivity alongside capacity enhancement of airports to meet the growing demand of the expanding trade and industrial sectors.

He also highlighted Bangladesh’s steps in attracting foreign investment like special economic zones, investment-friendly policies, improved business environment.

The BGMEA president invited Iraqi businessmen to invest in Bangladesh taking advantages of policies and business environment.

He pointed to the prospect of direct shipment from Bangladesh to Iraq, saying it would reduce time and freight cost for export-import cargo transportation between the two countries.

He underscored the need for initiating Dhaka-Baghdad direct flight to facilitate trade, and called on the Iraqi minister to take necessary steps in this regard.

He maintained that both countries have potential to boost bilateral trade and investment, stressing the need for more cooperation.

Faruque Hassan thanked Iraq for being one of those countries which recognised Bangladesh as a sovereign and independent state early after its independence.

The Iraqi trade minister assured the BGMEA delegation of the government’s cooperation with Bangladesh’s businessmen who want to do business in Iraq.