BD businessmen expect to double annual trade with Philippines

Country's businessmen are expecting to double the annual bilateral trade with the Philippines within the next few years considering the potential between the two countries, a joint chamber leader said.
"There is potential to increase annual bilateral trade with the Philippines to US $ 200 million from $ 100 million within the next few years," Rashed Maksud Khan, president of Bangladesh- Philippines Chamber of Commerce and Industry (BDPCCI) told the FE Wednesday.
With this end in view the Bangladeshi businessmen will fly to the Philippines at the end of the year. The businessmen of both the countries are maintaining correspondence in this regard.
Mr Khan who was also the former president of Dhaka Chamber of Commerce and Industry (DCCI) said, "We are corresponding with the Philippines trade bodies' leaders to finalise our trip there. We hope to visit the country in November, this year".
Earlier, commerce minister Tofail Ahmed visited the Philippines from May 21-23, 2014 aiming to boost bilateral trade and investment.
"We will sit with the Filipino traders to identify products aiming to increase export and import between the two countries," Mr Khan mentioned.
He said the two countries have many opportunities to enhance mutual trade. Bangladesh could scale up its export of jute goods, dry fish, textile, ready made garment (RMG), pharmaceuticals, agro products, leather and leather goods and electric cables to the Philippines.
He suggested constant contact between the businessmen of the two countries and exchange of visits regularly for increasing bilateral trade benefits.  
Mentioning Bangladesh's trade with Thailand, he said once upon a time the annual trade with Thailand was only $ 50 million, and now it stood at more than $1billion within a few years due mainly to regular contacts and visits between the two countries' businessmen.
He said that if the businessmen of Bangladesh and Philippines visit each other's country regularly and are acquainted with their products then it will be possible to double bilateral trade and investment within the next few years.  
He said that they will request the Filipino entrepreneurs to invest in Bangladesh.
"We will request the Filipino businessmen to invest in the service, healthcare, education and fashion design sectors," he mentioned.