Bangladesh Commercial Counselor to Tehran Mr. Md. Sobur Hossain yesterday met Head of International Affairs of Iran’s Chamber of Commerce Mr. Mohammad Reza Karbasi and explored ways for developing the current trade relations.

IRAN NEWS ECONOMIC DESK

During the meeting, both sides underlined paving the ground for taking advantage of trade and investment opportunities of both countries and announced that private sector can help expansion of bilateral economic cooperation regardless of politics and sanctions.

During the meeting, Karbasi welcomed expansion of bilateral trade between Iran and Bangladesh and pointed to some weaknesses and problems in way of bilateral cooperation.

He went on to say that the trade between Iran and Bangladesh is in low level despite good political relations between both countries and interests of private sectors. He went on to say that boosting the trade volume to one billion dollars is the least volume that both countries can achieve due to their amicable political relations but expansion of bilateral trade relation needs a new revision and new beginning.

Karbasi also announced Iran’s private sector readiness for expanding ties with Bangladesh in all fields  especially in exports of petrochemical products and joint investments with Bangladeshi economic activists.

He also noted that banking problem is the major hurdle in way of trade between Iran and Bangladesh, adding that the problem can be resolved by creating mechanisms like bartering goods . He also stated that the preferential agreement which was signed a couple of years ago should be implemented and in case of need, it should be revised.

He also announced readiness of Iran’s chamber to dispatch trade delegations to Bangladesh for talks on the sidelines of D-8 meeting.

Bangladeshi diplomat Mr. Hossain, for his part, pointed to the cultural and historical commonalities of both Muslim countries and missing opportunities for cooperation in the past years, adding that expansion of bilateral trade is possible with endeavors of private sectors of Iran and Bangladesh.

He added that regardless of politics and sanctions, private sectors can boost economic links of both countries, reiterating that both states have significant incentives for cooperation.

Hossain added that regarding its developmental plans, Bangladesh has many needs like petrochemicals and Iran can help it and Iran in return can meet its demands in some fields through Bangladesh market.

He also called for joint investments between both countries and launching joint commercial chamber, adding that the chamber can provide enough information for business activists of both states and it can present trade opportunities.

At the end of the meeting, both sides emphasized implementation of preferential agreement.