Business Desk :
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) is going to establish UAE and Bangladesh Joint Business Council in Dubai to tap the business and investment potential in Middle East, Africa and Europe.
The business council will be inaugurated during the visit of Prime Minister Sheikh Hasina to Dubai next month.
The council will be co-chaired by the president of the FBCCI and the chairman of the Federation of UAE Chambers of Commerce and Industry.
At the inaugural ceremony, the FBCCI will highlight Bangladesh’s sector-based investment and export prospects.
The preparatory meeting held at FBCCI on Saturday disclosed this information, the apex trade body said in a statement. The establishment of the Business Council with the Federation of UAE Chambers of Commerce and Industry would make it easier to capture the export market of the Middle East and Africa, FBCCI President Md Jashim Uddin said at the meeting.
Jashim Uddin thinks that this initiative of FBCCI will create an opportunity to explore new market for Bangladesh in the post-LDC period. Naser Ezaz Bijoy, president of the Foreign Investors Chamber of Commerce and Industry, recommended that five sectors should be included in the FBCCI’s presentation at the opening ceremony of the council.
The sectors include agricultural and halal food products, light engineering especially car parts, financial sector, petrochemical and port management.
Syed Muntasir Mamun, director general of the International Trade and Investment wing of the foreign affairs ministry, recommended seeking UAE investment in ICT, ITES, artificial intelligence, private equity, aviation, shipping and value-added agro services.
On the other hand, FBCCI Director Abul Kasem Khan highlighted the potential for investment in the tourism hospitality sector and in the private port sector.
He also demanded that Bangladeshis be given the opportunity to invest in Dubai.
Khandaker Golam Moazzem, research director of the Centre for Policy Dialogue and panel adviser of the FBCCI, said the UAE is currently looking for a global strategic partner for development.
As part of that, the country has recently signed a free trade agreement with India. Bangladesh should also sign an FTA with the UAE, he added.
