Bangladesh Minister of Commerce Tufail Ahmed met recently in
Riyadh with Council of Saudi Chambers (CSC) Chairperson Abdulrahman Al Zamil and other chamber personnel in order to develop avenues of commercial trade between the two
nations.
Al Zamil conveyed the CSC’s willingness to further develop existing
ties, stating that Saudi investors have a strong interest in Bangladesh assets.
CSC Acting Secretary General
Omar Bahlaiwa relayed the importance of developing private
sector business in accordance with the recent parameters outlined by Saudi
Vision 2030 and how that can mesh with Bangladesh’s global trade goals.
Ahmed noted various investment opportunities in Bangladesh,
which has attracted interest from financiers worldwide, from the U.S. and Europe
to China, Japan, Korea and India, for example. Additionally, Bangladesh has
begun to elevate its exporting connections, specifically in the apparel
industry and in international financial stability.
Bangladesh ranks second worldwide, after only China, in clothing
exports. The minister confirmed that 60 percent of apparel is exported to
Europe, while 25 percent is distributed to the United States.
The Bangladesh envoy stated that 1.3 million Bengali currently
work in Saudi Arabia, bolstering foreign exchange reserves. Gas and oil
manufacturing, construction materials, produce and human resources are all on
the rise within his country, Ahmed said.
