BGMEA President hopeful of expanding Bangladesh-Iraq trade, investment

A delegation of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) headed by President Faruque Hassan met Iraq’s Trade Minister Atheer Daoud Salman Al-Ghariri at the latter’s office on 21August.

During the visit, the president was accompanied former BGMEA Vice President (Finance) Mohammed Nasir, former BGMEA Director Nazrul Islam, Giant Group Director Sharmeen Hassan Tithi, Bangla Poshak Managing Director Mohammed Shohel, Bangla Poshak Director Mohd Shawket Hossain, and Banika Fashion Ltd Managing Director Nisher Khan.

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 investments 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, and improved business environment.

The BGMEA President invited Iraqi businessmen to invest in Bangladesh taking the 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 of Trade to take necessary steps in this regard.

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

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

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

Courtesy: The Business Standard