Abu Dhabi: A 29-member business delegation from the Dhaka Chamber of Commerce and Industry (DCCI), led by President Taskeen Ahmed, is set to depart for the United Arab Emirates (UAE) tomorrow. The delegation aims to enhance bilateral trade, expand the export of Bangladeshi products to Middle Eastern markets, and attract investment to Bangladesh.
According to Bangladesh Sangbad Sangstha, the delegation's three-day visit will include participation in bilateral business meetings and B2B sessions with the Abu Dhabi Chamber, Dubai Chambers, and the Sharjah Chamber of Commerce and Industry. The sessions will provide opportunities for Bangladeshi entrepreneurs to showcase their interests and explore possibilities for joint ventures with UAE businesses.
The UAE hosts more than 17 percent of the non-resident Bangladeshis working abroad, highlighting the strong economic ties between the two countries. The total trade volume between Bangladesh and the UAE reached nearly US $2 billion in FY2024, indicating robust growth in bilateral trade and investment.
Bangladesh offers a competitive investment framework, including fiscal and non-fiscal incentives, a conducive environment for foreign investors, and targeted tax concessions in various industries. The country also allows 100 percent foreign ownership, offers bonded warehousing facilities, and ensures effective intellectual property and investors' protection. Additionally, a double taxation treaty with over 36 countries, including the UAE, enhances Bangladesh's attractiveness as an investment destination.
Dubai's strategic location serves as a gateway for Bangladeshi traders to access the expanding halal market in the Middle East. Moreover, the UAE is a potential source for Bangladesh's LNG imports, fostering long-term cooperation between the two nations.
The delegation is scheduled to return to Bangladesh on February 28, 2025.