Bangladesh is set to form a joint commission with Czech Republic to expand businesses with the EU member countries. The commission will meet regularly and explore opportunities to develop the bilateral trade.
Currently, Bangladesh is enjoying a trade surplus with the Czech Republic and wants to diversify its export basket.
The commerce ministry on Tuesday signed a trade promotion and economic cooperation agreement with the Czech Republic in Prague, according to a press release issued in Dhaka on Wednesday.
Visiting Commerce Minister of Bangladesh Tipu Munshi and Czech Industries and Commerce Minister Karel Havlicek signed the agreement on behalf of their respective sides.
Currently, the trade between Bangladesh and Czech Republic stands over US$ 500 million and the trade is in favour of Bangladesh.
The EU member state showed keen interest to invest in the fields of power generation, education, training, ICT, jute and jute products.
On the other hand, the Bangladesh commerce minister urged the Czech Republic to invest in the country's 100 special economic zones as those offer many policy incentives.
Mr. Tipu Munshi said that the Czech Republic can utilise the duty-free benefit by producing products in Bangladesh and export back to the EU countries.
He said the businessmen from Czech Republic can invest in clothing, leather, pharmaceuticals, light engineering and ICT sectors.
Before arriving in Czech Republic, the minister visited Slovenia and attended the programmes of World Bee Day. There he visited Port of Koper and witnessed different aspects of the port for export and import.
He also held a meeting with Slovenian Agriculture, Forest and Food Minister Aleksandra Pivec.
The minister has been visiting Prague since May 17 last and is expected to reach Dhaka today (Thursday).
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