Dhaka Chamber of Commerce and Industry (DCCI) President Ashraf Ahmed has extended an invitation to Argentine businesses to explore joint ventures with their Bangladeshi counterparts in the pharmaceutical and Active Pharmaceutical Ingredients (API) sectors. He encouraged Argentine investors to take advantage of the incentives offered by the Bangladesh government in these industries, reports BSS.
In addition, Ashraf called on importers of that country to increase their purchases of Bangladeshi goods, including garments, jute, leather products, medicine, and plastics. This request was made during a meeting with the Ambassador of Argentina to Bangladesh, Marcelo Carlos Sesa, held at the DCCI office in Dhaka, according to a statement, released on Sunday.
The DCCI President also urged the relevant authorities to reconsider the high tariffs on goods exported from Bangladesh to Argentina, suggesting that lowering them could further boost bilateral trade.
Highlighting Bangladesh’s growing IT sector, Ashraf proposed that Argentina could benefit from importing software and IT professionals from Bangladesh. He also recommended regular B2B matchmaking meetings, including virtual platforms, to facilitate better understanding of each country’s market potential and demands.
Ashraf informed the Ambassador that Argentine companies could utilize DCCI’s commercial research services to gain insights into specific markets and product opportunities. He also noted that the recent establishment of a permanent Argentine mission in Bangladesh presents an opportunity to strengthen trade and investment ties between the two nations.
Bilateral trade between Bangladesh and Argentina reached $678.78 million in FY 2022-23, with Bangladesh’s imports from Argentina totaling $663.34 million and exports to Argentina at $14.55 million.
Ambassador Sesa acknowledged the potential for greater trade and investment but pointed out that it has not yet reached its full potential due to limited communication between business communities in both countries. He emphasized that Argentina could serve as a gateway for Bangladesh’s trade in the South American market.
He also highlighted the "MERCOSUR" economic alliance, which includes Argentina, Brazil, Uruguay, and Paraguay, offering duty-free trade benefits among its members. The Ambassador encouraged Bangladeshi businesses to invest in Argentina and suggested that a DCCI delegation visit Argentina to explore new opportunities. Additionally, he proposed signing a Memorandum of Understanding (MoU) between DCCI and Argentina’s leading chambers and associations to foster closer bilateral relations.
The meeting was also 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 Romaniello.
DCCI President invites Argentine companies to explore joint ventures in BD's pharmaceutical sector and strengthen trade ties during a talk with the ambassador.
Bd-pratidin English/ Jisan
