Uzbekistan wants to develop trade ties with Bangladesh

Uzbekistan is very keen to develop the bilateral trade relations with Bangladesh. It has emphasised utilising probable ways and means to expand trade between the two brotherly countries, according to a press statement.

The existing trade might be diversified by active steps of business community of both the countries, it added.

The observations came at a meeting between Farhod Arziev, Uzbekistan ambassador based in New Delhi and the FBCCI leaders at the FBCCI building in Dhaka on Saturday.

FBCCI President Md Shafiul Islam Mohiuddin, Senior Vice President Sheikh F Fahim and Vice President Md Muntakim Ashraf took part in the discussion.

The FBCCI president, at the meeting mentioned about the role of private sector in the fast-growing development activities of the country. The apex body along with its member bodies was working with the government to ensure a conducive business environment in the country, he added.

Despite of the immense potential, the bilateral trade with Uzbekistan is untapped, Mohiuddin mentioned. To develop the bilateral trade, the FBCCI chief emphasised on exchange of delegations consisting the businesspersons of both the countries.

He also mentioned about the 100 special economic zones (SEZs) established by Bangladesh government to attract foreign investment.

Uzbekistan Ambassador Farhod Arziev expressed keen interest about Bangladesh's textile and pharmaceutical sector. He sought specific proposals from the FBCCI leaders to develop the bilateral business relation.

The ambassador also invited the FBCCI leaders to visit Uzbekistan at a close suitable time.

Sheikh F Fahim, Senior Vice President of FBCCI said that an FBCCI delegation may visit Uzbekistan to find out the potentials of Bangladeshi products to export to the CIS countries. Sheikh Fahim also emphasised on technology transfer to Bangladesh from Uzbekistan.

FBCCI Directors Hasina Newaaz, Mir Nizam Uddin Ahmed and Tabarakul Tosaddek Hossain Khan Tito attended the meeting.

Azamjon Mansurov, First Secretary of the Uzbekistan Embassy and FBCCI Acting Secretary General Hussain Jamil joined the discussion.

It may be mentioned that, Bangladesh's exports to Uzbekistan in 2018-19 stood at US$ 11.50 million and imports at US$. 16.10 million.

The principal export products of Bangladesh to Uzbekistan are jute and jute goods, pharmaceutical products, nuclear reactors, boilers, machinery and mechanical appliances etc.

On the other hand, Bangladesh imports are textiles and textile articles, vegetable products, products of the chemical etc from Uzbekistan.