‘Bangladesh can tap $1.3b market by expanding ties with African country Eswatini’
A delegation from African country Eswatini has said Bangladesh can explore a $1.3 billion untapped market by expanding business ties with their country. The delegation came up with this call at a discussion meeting with the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at FBCC
‘Bangladesh can tap $1.3b market by expanding ties with African country Eswatini’
Eswatini’s delegation tells Bangladeshi businessmen
Published: July 19, 2022 20:56:10
A delegation from African country Eswatini has said Bangladesh can explore a $1.3 billion untapped market by expanding business ties with their country.
The delegation came up with this call at a discussion meeting with the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at FBCCI Icon in Dhaka on Tuesday, according to a BSS report.
Minister for Commerce, Trade and Industry of Eswatini Manqoba Khumalo led their delegation.
With its strategic geographic location, Eswatini acts as a gateway to the African continent, the minister added.
As the country is a member of the Southern African Development Community (SADC) and Southern African Customs Union (SACU), establishing business and investment relations with Eswatini would provide favourable market access to regional blocs in Africa, the minister noted.
Highlighting Tax- and Duty-Free facilities and other incentives for foreign investors, Senator Manqoba Khumalo informed that China and India are the two major exporters to Eswatini, while his government would like to see Bangladesh as another important trade and investment partner.
Bangladesh may treat Eswatini as a potential market for exporting readymade garments, agro products, ICT and electronic products in particular.
The African country is interested in joint ventures as well. Eswatini's funding and Bangladesh's technology and experiences could be applied in the pharmaceutical industry, Bio-tech,
Contract farming and ICT, Manqoba Khumalo further informed.
Earlier, FBCCI Senior Vice President and Acting President Mostofa Azad Chowdhury Babu proposed for inking an MoU between FBCCI and the counterpart of Eswatini to bolster bilateral trade and investment.
Currently, Bangladeshi people have to process visas from Malaysia, therefore, the acting FBCCI president called for setting up the high commission in Dhaka.
At the same time, Babu suggested arranging B2B meetings, webinars, and exchanges of the delegation to take the bilateral trade to a newer height.
Vice President Md Amin Helaly assured to provide all kinds of support from FBCCI to increase bilateral trade.
Earlier in the meeting, the potential of electronic product assembling and mutual tourism development were discussed.
Under Secretary of Ministry of Commerce for Industry and Trade Cebile Amanda Nhlabatsi, MSME Director MlulekiSakhile Dlamini,
Senior Executive Manager of Eswatini Investment Promotion Authority Dr Khanyisiie Dlamini, a representative from Bangladeshi Business Community in Eswatini Mohammed Asraful Alam Chowdhury, Badruzzaman Chowdhury, Badral Alam Chowdhury were present in the meeting.
FBCCI Director M G R Nasir Majumder, Hafez Harun, Md Aslam Serniabath, Md Naser, Abu Hossain Bhuiyan (Ranu), Mohammad Ali Khokon, Advisor Manzur Ahmed, Brigadier General (Retired) Abu Nayeem Md Shahidullah were also present in the meeting.
The meeting was conducted by FBCCI Secretary General Mohammad Mahfuzul Hoque.
