Investment the Missing Link in Tehran-Dhaka Trade
IRAN NEWS ECONOMIC DESK
TEHRAN – Bangladesh Ambassador to Tehran Mr. Gousal Azam Sarker says despite huge capacities of Iran and Bangladesh, lack of investment by both parties is considered as the missing link of trade between both states and this neglected issue should be noticed more.
Speaking during a meeting for reviewing cooperation between Bangladesh and Kerman Province held in Kerman, Mr. Sarker said despite having huge capacity for trade, the volume of trade between both countries is unsatisfactory and it has been around $100m and Iran’s share of export has been four times of Bangladesh’s.
He added that major goods exported from Bangladesh to Iran were goods like jute, gelatin and oil seeds while Iran’s major exports to Bangladesh has been goods like pistachio, bitumen and clinker, adding that if the relation between economic activists of both states is developed, the bilateral trade will definitely see more growth.
Sarker noted that despite problems in financial exchanges in the trade relation, the trade continues and both countries can use methods like barter of goods for easing trade.
He noted that Bangladesh is the world’s second biggest producer of apparel, adding that the country beside in apparel and textile fields has grown fast in other fields like sea and frozen food, IT, pharmaceutical and building small and medium-sized ship and it has set very good outlook for development and export in those fields.
Sarker reiterated that agriculture is the base of Bangladesh economy and the country has had good and vast plans to boost this sector through investment.
He further said that there are good opportunities for investment for Iranians and investors from Kerman, adding that investors can pull out their whole money from Bangladesh and they enjoy tax and customs exemptions.
Sarker noted that the country needs more investment in the fields of construction, start-ups and IT and they are welcomed and Iranians can invest either privately or through joint ventures.
The Bangladeshi diplomat added that every winter a big expo is held in Bangladesh and it is a good opportunity for Iranians and Kermanis to present and sell their goods and products, adding that next year, Dhaka will host the D-8 meeting as Iran is one of D-8 member states and some exhibitions and meetings are to be held on its sidelines by Bangladesh Chamber of Commerce and Iranians can take advantage of it.
Meanwhile head of Kerman Chamber of Commerce Seyed Mehdi Tabibzadeh, for his part, said that despite existence of several grounds and capacities for cooperation between Kerman Province and Bangladesh, Kerman’s exports to Bangladesh have never exceeded $100m.
He further said that developing bilateral trade is highly emphasized but this trade relation should be a win-win one and imports from Bangladesh should be based on the demands and needs.
He pointed to capacities of Bangladesh in technical and engineering services and producing technology for serious cooperation with Iran and expressed hope the meeting would lay the ground for serious bilateral cooperation more than before. He added that Kerman can cooperate with Bangladesh in goods and products like pistachio, date, cement, tile and ceramic, foodstuff, technical and engineering services, steel and copper and hailed Bangladesh’s upward trend growth that this experience can be used in Kerman and Iran.
