Dhaka Chamber of Commerce and Industry (DCCI) President Rizwan Rahman requested Turkey to relax tariffs on RMG and ceramic products for Bangladesh’s export growth.
The DCCI President made the request when he met Turkish Minister for Trade Dr. Mehmut MUS at his Ministry in Ankara recently, said a press statement.
Bangladeshi ceramic products do not get duty-free and quota-free access to the Turkish market rather 19 percent tariff is imposed on this product. Turkey added an extra 17 percent tariff for Bangladeshi RMG products.
During the meeting, Rizwan said that the bilateral trade between Bangladesh and Turkey is around $900 million which is not satisfactory at all.
The existing bilateral trade can be enhanced to over $2 billion through more trade diversification. He also said that the progress in public-private and B2B partnership between the two countries remain low.
Rizwan said that Turkish investors can consider Bangladesh’s 100 economic zones and 28 high-tech parks as their preferred investment destination.
He also requested the minister to extend the current duty-free and quota-free tariff line facility to Bangladesh which is now 79.9 percent for trade growth.
Moreover, Joint Economic Commission meetings should be held regularly to arrange effective joint exhibitions and seminars on bilateral economic issues and address trade issues. Furthermore, Bangladesh and Turkey can work and advocate together to form an effective D-8 economic bloc.
Turkish Minister for Trade Dr. Mehmut MUS agreed that the bilateral trade between these two countries is not up to the expected level.
Terming Bangladesh as an attractive investment destination, he said both countries should work together to enhance this trade volume.
Mehmut said that a few Turkish companies are already doing business in Bangladesh and they are doing very well. “And this success will be an example for others to invest in Bangladesh.”
The Ambassador of Bangladesh in Ankara Mosud Mannan was also present at the meeting.