UAE trade team keen to enhance investment

A high-level delegation comprising 10 business leaders of the United Arab Emirates (UAE) on Sunday expressed their eagerness to enhance bilateral trade and investment between Bangladesh and the UAE. Holding separate meeting with the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) and the Dhaka Chamber of Commerce and Industry (DCCI) at the auditoriums of the trade bodies in the city, the delegation leader, Khalifa Mohammad Al Muhairi, Member of the Board of Directors of Abu Dhabi Chamber of Commerce and Industry (ADCCI) said that there were huge potential sectors in Bangladesh for lucrative investments. "The most lucrative and potential areas are real estate, tourism and banking sectors of the country," he highlighted, adding "We are very much eager to augment the bilateral trade and investment between the two countries". According to him, the other areas of important sectors for investment are property development, insurance, financial service, oil and gas, power, infrastructure development and telecommunications. Terming the meeting as a great opportunity to exchange views and ideas, he said that it would further enhance the existing relationship between Bangladesh and the UAE. He pointed out that the existing bilateral trade position was far below the expected level. To strengthen further the business and investment cooperation between the two brotherly Muslim countries, the FBCCI President Mir Mohammad Nasir Hossain said that they were very much eager to further improve the trade of the country with the business communities of the UAE. "We think in the coming years, there would be more windows for enhancing business ties between the two friendly countries," said the FBCCI President. At the meeting with the UAE delegation, the DCCI Acting President, Hossain Khaled said that the existing level of bilateral trade between the two countries could be enhanced significantly through mutual understanding. Mentioning the existing trade position between the two countries, he said that in 2004-05 fiscal year, the export from Bangladesh to UAE was US$ 18.25 million as against the import of US$ 149.87 million. "In the first six months of the current FY 06, the export of Bangladesh to UAE was US$ 14.47 million against the import of US$ 135.12 million. "Hossain Khaled called upon the UAE Government through the delegation to take necessary steps to reduce the trade imbalance between the two countries. He said that the main export products of Bangladesh were vegetable products, tobacco, frozen fish, RMG, ceramic, tableware, pharmaceuticals, melamine, shoes and leather items. "Bangladesh has an abundant reseve of natural gas and low-cost labor force, which is lucrative," said the UAE delegation chief. Meanwhile, the UAE entrepreneurs have invested in the fields of telecommunications, banking, infrastructure, property development and ceramics.Among others, DCCI Vice-President Hossain A Shikder, Director Manjurur Rahman (Ruskin), Md. Sabur Khan, KMH Shahidul Haque, Alhaj Sharfuddin, M Shahajahan Khan, Kamrul Islam FCA, Haider Ahmed Khan, Syed Habibur Rahman and Masudur Rahman were present at the meeting.

Back to News & Updates

Back To News Archives