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Time to boost trade between Dhaka and Jakarta: FBCCI

January 04, 2022 00:00:00

FBCCI President Md. Jashim Uddin on Monday called upon the government to take initiative to harness the huge untapped potentials of bilateral trade between Bangladesh and Indonesia, reports UNB.

Jashim made the call when Bangladesh Ambassador to Indonesia Air Vice Marshal Mohammad Mostafizur Rahman called on him at his FBCCI office.

In FY 2020-21, the import-export trade between Indonesia and Bangladesh stood at US$ 1.9 billion, which has a huge potential for further growth.

Indonesia has a large market for Bangladeshi medicines, agricultural products, poultry, jute and leather goods and footwear.

Jashim also urged the ambassador to take initiative so that Indonesia would also invest in an economic zone of Bangladesh.

During the meeting the ambassador said that the Bangladesh government is keen to be a sectoral dialogue partner of Indonesia.

As the tariff and tax structure in the country is relatively simple, it will be easier for Bangladeshi exporters to capture the market, he said.

"Indonesian entrepreneurs are interested in investing in Bangladesh through joint ventures in the pharmaceutical and SME sectors," he said.

He also said that a delegation led by the country's industry minister or commerce minister will visit Bangladesh this year to explore bilateral trade and investment prospects.

He said negotiations are also underway on a preferential trade agreement (PTA) with the country.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President Md. Amin Helaly, Director MGR Nasir Majumder and Secretary General Mohammad Mahfuzul Hoque were present during the meeting.

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