Dhaka: Dhaka Chamber of Commerce and Industry (DCCI) President Ashraf Ahmed today invited Argentine companies to pursue joint ventures with Bangladeshi counterparts in the pharmaceutical and Active Pharmaceutical Ingredients (API) industries. Ashraf extended this invitation to Argentine investors and companies, highlighting the incentives offered by the Bangladesh government in this sector.
According to Bangladesh Sangbad Sangstha, Ashraf also encouraged Argentine importers to increase their imports of Bangladeshi garment products, as well as jute, jute goods, leather, leather products, medicine, and plastic products. The invitation was extended during a meeting with Ambassador of Argentina in Bangladesh, Marcelo Carlos Sesa, held at the DCCI in the capital.
The DCCI President suggested that the Argentine authorities reconsider the higher tariffs currently imposed on Bangladeshi exports to Argentina to enhance future trade. He also noted the potential for Argentine import of software and IT professionals fr
om Bangladesh, given the country’s successful IT industry. Ashraf emphasized the importance of regular B2B matchmaking meetings, including online platforms, to help businessmen from both countries understand each other’s market strengths and demands.
In the meeting, Ashraf informed the Ambassador about the facilities available to Argentine companies through DCCI’s commercial research services, which can provide insights into specific market or product potential. He also highlighted the establishment of the permanent mission of Argentina in Bangladesh as an opportunity to expand bilateral trade and investment between the two countries.
Ashraf shared that the bilateral trade in the fiscal year 2022-23 amounted to $678.78 million, with Bangladesh’s imports and exports totaling $663.34 million and $14.55 million, respectively. Ambassador Marcelo Carlos Sesa acknowledged the untapped potential in bilateral trade and investment, attributing the shortfall to a lack of communication between businessmen of the two c
ountries.
The Ambassador mentioned that Argentina could serve as a ‘hub’ for Bangladesh’s trade and investment in the South American region. He referred to the ‘Marcosar’ economic alliance, which includes Argentina, Brazil, Uruguay, and Paraguay, offering duty-free import-export benefits among them. The envoy encouraged Bangladeshi entrepreneurs to invest in Argentina to take advantage of this opportunity.
Marcelo Carlos Sesa requested the DCCI to send a business delegation to Argentina to explore new opportunities. He also suggested the signing of a Memorandum of Understanding (MoU) between Dhaka Chamber and Argentina’s leading Chambers and Associations to further bilateral relations.
The meeting was attended by DCCI Senior Vice-President Malik Talha Ismail Bari, Vice-President Md. Junaed Ibna Ali, and Deputy Head of Mission of the Argentine Embassy in Bangladesh, Maximiliano Romanello.