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Egyptian entrepreneurs can help develop infrastructure: Envoy

FE Desk | January 28, 2021 00:00:00


Egyptian Ambassador Haytham Ghobhashy called on DCCI President Rizwan Rahman at the DCCI in the city on Tuesday. DCCI Senior Vice President N K A Mobin and DCCI Vice President Monowar Hossain were present during the meeting

Egyptian Ambassador to Bangladesh Haytham Ghobhashy has said Bangladesh has to improve its infrastructure sector to attract local and foreign investment and improve people's living standard, and Egyptian entrepreneurs can play a vital role in the development of the sector.

He also said Bangladesh's construction and infrastructure sectors have a great potential to lure foreign investors where government and private sector of both the countries can explore for joint collaboration.

The Egyptian ambassador said this during a meeting with Dhaka Chamber of Commerce and Industry (DCCI) President Rizwan Rahman at the DCCI in the city on Tuesday, said a press release.

DCCI Senior Vice President N K A Mobin, Deputy Head of Mission of Egyptian Embassy Mariam M Ragaei and DCCI Vice President Monowar Hossain were present at the meeting.

Due to Covid-19 pandemic, Egypt is more focused on doing business with the South Asian (south-south) nations, said the ambassador, seeking cooperation from Bangladesh to boost trade in this region.

Egypt enjoys duty-free and quota-free access to the USA, EU, Latin America and Middle Eastern countries, he said and urged Bangladesh's private sector to invest in Egypt to avail these facilities in terms of export.

DCCI President Rizwan Rahman suggested that Egypt can utilise Bangladesh to produce same or similar products to be price competitive in the African Continental Free Trade Area (AFCFTA).

Referring to the Oxford Internet Institute (OII), he said that Bangladesh has the second largest pool of online workers in the world. "Egypt can utilise this expertise," he added.

The trade gap between Bangladesh and Egypt is $33.54 million according to the statistics of 2019-20 FY. In 2019-20 FY, Bangladesh's export to Egypt was $28.36 million and import $61.9 million.

Jute is the major export item from Bangladesh which accounts for $31.33 million alone.

Rizwan Rahman also requested the ambassador to import cotton, knitwear, woven garments, footwear, pharmaceuticals and ceramic products.

The DCCI President proposed setting up 'Egypt Help Desk' at DCCI where entrepreneurs from both the countries would get required information in terms of trade and investment.

The desk will also work to enhance know-how and information sharing among the businesspersons of Bangladesh and Egypt.


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