Indonesian delegation is coming to Bangladesh to boost bilateral trade and investment. The FBCCI, the apex body of Bangladesh traders, has urged the government to take initiatives to take advantage of this possibility. In the fiscal year 2020-21, the import-export trade between Indonesia and Bangladesh has been worth 1.9 billion dollars. There is a huge potential for further expansion of this bilateral trade. In particular, there is a large market in Indonesia for Bangladeshi medicines, agricultural products, poultry, jute and leather products, and footwear. FBCCI President Md. Jashim Uddin called on the government to take initiatives to harness this potential for bilateral trade.
The FBCCI president made the call during a courtesy call on Bangladesh Ambassador to Indonesia Air Vice Marshal Mohammad Mostafizur Rahman at noon on Monday (3 January). At the moment, talks are underway with the country on a preferential trade agreement, the ambassador said.
Md. Jashim Uddin urged the ambassador to take initiative so that Indonesia, like China, India, and Japan, could invest in an economic zone of Bangladesh.
In a meeting held at the FBCCI office, the ambassador said that Bangladesh is keen to be a sector-based partner of Indonesia. As the tariff and tax structure in the country is relatively simple, it will be easier for Bangladeshi exporters to capture the market. Indonesian entrepreneurs are interested in investing in Bangladesh through joint ventures in the pharmaceutical and SME sectors. A delegation led by the country’s Industry Minister or Commerce Minister will visit Bangladesh this year to explore bilateral trade and investment prospects.
Also present at the meeting was FBCCI senior Vice President Mostafa Azad Chowdhury Babu, Vice President Md. Amin Helali, Director M G R Nasir Majumder, and Secretary General Mohammad Mahfuzul Hoque.
