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Bid to boost Bangladesh and Bahrain ties

Black_cats

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Bid to boost Bangladesh and Bahrain ties

Bilateral trade between the two countries currently stands at $50mln a year

By Staff Writer, Gulf Daily News

Moves are afoot to enhance community relations between Bangladesh and Bahrain and stage a trade fair to develop business ties between the two nations.

Bangladeshi ambassador to Bahrain Dr Nazrul Islam told the GDN that he was ‘hopeful’ of Bahrain collaborating with his government’s proposed projects.

Bahrain could benefit from fish farming, agriculture and other developments such as solar power, renewable energy, light engineering and pharmaceuticals as part of a joint venture, he believes.

“Trade has not been significant between the countries thus far and interaction also less than we could have hoped for,” Dr Islam told the GDN.

“We intend to enhance both in the coming years through collaboration between the two chambers – the Bahrain Chamber of Commerce and Industry (BCCI) and the Federation of Bangladesh Chamber of Commerce and Industry.

“There is scope for expansion, and it is positive that both chambers are interested and keen to expand the relationship. There would be mutual investment possibilities which could be tapped into.”

Bilateral trade between the two countries currently stands at $50 million a year, according to the diplomat who cited that discussions had already been initiated between traders in both countries to increase this figure.

“As part of planned venture projects, Bangladesh has created almost 100 exclusive economy zones (EEZ) in 2010,” explained the ambassador. “Around 12 countries including Japan, Korea, India, China and Russia are already in collaboration and are engaged in projects that are going in a phased manner.

“From the GCC, Saudi Arabia and UAE are in the discussion phase, while with Bahrain, we are at the initial stage.

“There are certain projects that the home government has earmarked for both domestic and foreign investors. For those interested, the government gives a lease for 50 years alongside other incentives.”

The EEZ of Bangladesh comprises a vast area of the sea beyond and adjacent to the territorial sea extending to a line every point of which is at a distance of 200 nautical miles from the nearest points of the territorial sea baselines/normal baseline of the nearest coastline.

“We have pharmaceuticals, light engineering, solar power and renewable energy projects for Bahraini investors to pick from, among others.

“Bahrain, being a coastal concern too, t could also look into fish farming and aqua culture. They could also tap into agriculture, on which Bangladesh has a success story to tell from the point of view of self-sufficiency.”

Post-Covid-19 days would see more ‘physical visits’ featuring trade delegations, said the envoy, although online seminars were being lined up for the rest of this year. I’m very hopeful of collaboration with Bahrain on the economic zones, as Bahrain has a good investment climate and joint venture projects could take off,” he added.

“We foresee mutual visits of investors in the future, depending on the further development of these talks, and, at the end of next year, we are also planning a single country trade fair.

“This will be first of its kind in Bahrain in which we aim to bring in Bangladeshi businessmen to showcase business opportunities through an exhibition that could span over two to three days.”

Dr Islam was speaking to the GDN following an online meeting with the BCCI chairman Sameer Nass, where discussions were held to look at ways and means to intensify trade between the two nations.

In a statement to the media, Mr Nass said that the meeting ‘stressed on the importance of invigorating trade and exploiting more investments and partnership opportunities’.

“We (BCCI) are ready to cooperate with the embassy in all endeavours that aim at reinforcing liaison between both business communities and stepping-up trade and investment,” it added.

Present at the meeting were BCCI chief executive Shaker Al Shater and deputy chief executive Dr Abdulla Al Sada.
raji@gdn.com.bh

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Destranator

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“As part of planned venture projects, Bangladesh has created almost 100 exclusive economy zones (EEZ) in 2010,” explained the ambassador. “Around 12 countries including Japan, Korea, India, China and Russia are already in collaboration and are engaged in projects that are going in a phased manner.

.................

The EEZ of Bangladesh comprises a vast area of the sea beyond and adjacent to the territorial sea extending to a line every point of which is at a distance of 200 nautical miles from the nearest points of the territorial sea baselines/normal baseline of the nearest coastline.
So 12 countries have decided to set up factories in the middle of Bay of Bengal.

@Atlas @The Ronin @Michael Corleone @bluesky @bête noire
 
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Bilal9

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So 12 countries have decided to set up factories in the middle of Bay of Bengal.

@Atlas @The Ronin @Michael Corleone @bluesky @bête noire
Although you didn't tag me, let me a bit 'behaya' and interject. :-)

Japanese are setting up a massive new EPZ in AraiHazar in N' Ganj, where a riverine container port exists close by (fully operational).

The Chinese and Singaporeans are going to be in (also massive) Bangabandhu EPZ a little North of Chittagong. Which will be served by nearby CTG and Patenga ports.

Dhaka CTG highway will be the main artery connecting quite a few EPZ's (esp. Comilla and Meghnaghat EPZ), because one third of Bangladesh population lives in the area, being how fertile it is.

There will be satellite EPZ's in Payra and Mongla, simply because those are ports, served by Container ships.

I'd say at least 25 will be operational in less than three years, 10 among them much larger than anything seen today, including the 3 CTG EPZ's.
 

Destranator

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Although you didn't tag me, let me a bit 'behaya' and interject. :-)

Japanese are setting up a massive new EPZ in AraiHazar in N' Ganj, where a riverine container port exists close by (fully operational).

The Chinese and Singaporeans are going to be in (also massive) Bangabandhu EPZ a little North of Chittagong. Which will be served by nearby CTG and Patenga ports.

Dhaka CTG highway will be the main artery connecting quite a few EPZ's (esp. Comilla and Meghnaghat EPZ), because one third of Bangladesh population lives in the area, being how fertile it is.

There will be satellite EPZ's in Payra and Mongla, simply because those are ports, served by Container ships.

I'd say at least 25 will be operational in less than three years, 10 among them much larger than anything seen today, including the 3 CTG EPZ's.

Sure, my point was how the reporter reported that 12 countries are investing in "EEZs" and then proceeded to explain correctly that EEZs are located in the Ocean. :cheesy:
Screenshot_20200922-134230_Samsung Internet.jpg
 

bluesky

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Sure, my point was how the reporter reported that 12 countries are investing in "EEZs" and then proceeded to explain correctly that EEZs are located in the Ocean. :cheesy:
View attachment 672043
I think you have confused between EEZ (Exclusivve Economic Zone) and EPZ *Export Processing Zone). The Ambassador was talking about EEZ which is the exclusive economic zone where coastal nations have jurisdiction over natural resources. Note an EEZ comprises coasts and Seas.
 

Destranator

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I think you have confused between EEZ (Exclusivve Economic Zone) and EPZ *Export Processing Zone). The Ambassador was talking about EEZ which is the exclusive economic zone where coastal nations have jurisdiction over natural resources. Note an EEZ comprises coasts and Seas.
That is my point! I didn't confuse it, the reporter did.
 

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