Industry

Turkish businesses keen to invest in Bangladesh’s jute sector: Ambassador Turan

Turkish investors are keen interest to invest in the jute sector of Bangladesh, Ambassador Mustafa Osman Turan said Tuesday.

He said his country mostly imports jute from Bangladesh for its carpet industry.

“Half of their total import, which is about $300 million, constitutes jute from Bangladesh,” the Turkish ambassador to Dhaka said at a meeting with DCCI President Rizwan Rahman at DCCI office in the city.

Turan said that some of the important potential areas where Turkish companies could invest or collaborate jointly include agro-industry, light engineering, pharmaceuticals, ICT, ship building, energy, and household appliances.

“We want to rebrand Turkey in Bangladesh,” he said adding the bilateral trade between Bangladesh and Turkey did not decline much despite the pandemic.

Bangladesh’s agriculture sector is being modernised and experiencing a digital transformation now.

Ambassador Turan termed this sector a potential one for joint collaboration.

Dhaka Chamber of Commerce & Industry (DCCI) President Rahman said Bangladesh has emerged as Turkey’s third-largest trade partner in South Asia with a total trade volume of $705 million in FY 2018-19.

He also proposed to hold a bilateral virtual B2B conclave to promote private sector investment.

Rahman also requested Turkey through the Embassy to withdraw anti-dumping duty on yarn from Bangladesh imposed on October 16, 2018.

“The total trade volume of both the countries in 2019-20 was $686.88 million which does not reflect the actual trade potential of these two friendly countries,” he said, reiterating that more interaction and communication among the Turkish business bodies and Bangladeshi business community will enhance bilateral trade volume in the future.

DCCI’s Senior Vice President NKA Mobin, Vice President Monowar Hossain and Commercial Counsellor of Turkish Embassy Kenan Kalayci were also present during the meeting.