Iraq wants to renew its 1981 agreement with Bangladesh to boost trade. On Thursday (20 January), Iraqi Ambassador to Dhaka Abdul Salam Saddam Mohaisen expressed this interest during an exchange of views with Commerce Minister Tipu Munshi in the office room of his official residence.
At the time, Commerce Minister Tipu Munshi said that Bangladesh has an opportunity to increase trade and investment with Iraq. Therefore, if the visits of delegations to the two countries increase, it will be easier to identify the sectors for investment.
The Commerce Minister said the work of setting up 100 special economic zones in important places of Bangladesh on the initiative of Prime Minister Sheikh Hasina is progressing fast. Many are in the final stages. Hence, many countries in the world are showing interest in investing here.
The Iraqi Ambassador congratulated the Minister on the birth centenary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman and the golden jubilee of Bangladesh and said that Iraq is keen to increase trade and investment with Bangladesh. For this, he emphasised renewing the trade agreement made in 1981 and making it suitable for the times. He also invited the Commerce Minister to visit Iraq for discussions.
In the current COVID-19 situation, Bangladesh exported goods worth USD 38 lacs to Iraq in the last fiscal year 2020-2021. At the same time, it imported goods worth USD 5 crores 34 lacs and 20 thousand from Iraq.
The Iraqi market has huge potential for the export of Bangladeshi-made garments, medical products, jute products, home textiles, and leather goods.
