Bangladesh hopes to deepen economic ties with Türkiye through negotiations on free-trade agreement, expansion of export market and investment in struggling state-owned textile and jute mills during Turkish Foreign Minister Hakan Fidan's three-day tour.
The foreign minister of the Asia-Europe gateway country is due to arrive in Dhaka today (Thursday) with an agendum that includes promoting trade and investment.
Officials familiar with the preparations say the government intends to place trade and investment cooperation at the centre of discussions, as both countries seek to elevate their relationship beyond traditional diplomatic engagement and defence cooperation.
The visit comes at a time when bilateral trade between Bangladesh and Türkiye has exceeded US$3.0 billion annually, although both sides acknowledge that the trade basket remains narrowly concentrated and offers significant room for diversification.
Bangladesh is expected to revive discussions on a proposed FTA, an idea first raised by Dhaka several years ago and subsequently discussed during meetings of the Bangladesh-Türkiye Joint Economic Council (JEC). The sixth JEC meeting, originally scheduled for the first quarter of this year, was postponed and was yet to be rescheduled.
During the fifth JEC meeting held in 2019, both countries agreed to diversify trade by encouraging greater engagement between business communities and promoting participation in trade fairs and exhibitions.
Bangladesh is expected to reiterate its proposal for an FTA this time. Earlier, Türkiye maintained that any such arrangement would need to remain consistent with its obligations under the World Trade Organisation and its customs-union commitments with the European Union.
But, according to documents obtained by the FE, both sides agreed to continue discussion on a potential free-trade or preferential-trade agreement.
Officials say Bangladesh will also push for increased market access for pharmaceutical products, halal food items and other non-traditional exports to Türkiye as part of a "broader strategy to reduce dependence on garment exports and expand into higher-value sectors".
Bangladesh is also eager to attract Turkish investment into Bangladesh's state-owned textile and jute industries, many of which require extensive modernisation and capital infusion after years of operational difficulties.
The Ministry of Textiles and Jute earmarked seven textile mills and six jute mills in this regard, sources have said.
"Bangladesh believes Turkish expertise in manufacturing and industrial management could help revive these enterprises while creating opportunities for technology transfer and employment generation," says one official.
During his stay in Dhaka, Fidan will hold official talks with Foreign Minister Khalilur Rahman and other senior officials. He is also scheduled to pay a courtesy call on Prime Minister Tarique Rahman on June 6.
The visit follows a bilateral meeting between Foreign Minister Dr Khalilur Rahman and Hakan Fidan in Ankara on March 14, the first such meeting since the BNP-led government assumed office.
During the talks, Bangladesh highlighted opportunities for Turkish foreign direct investment and sought greater cooperation in labour mobility, including the export of skilled human resources to Türkiye.
Türkiye, for its part, reaffirmed its commitment to maintaining close and friendly relations with Bangladesh in both bilateral and multilateral forums.
Diplomats say the visit reflects growing momentum in Bangladesh-Türkiye relations and could pave the way for stronger economic engagement at a time when both nations are seeking new trade and investment partnerships amid shifting global economic paradigms.
mirmostafiz@yahoo.com
