Bangladesh can import petrochemicals, fertilizer from Egypt: Ambassador

Bangladesh can import petrochemicals and fertilizer from Egypt to meet the country's growing demand.

Egyptian Ambassador to Bangladesh Omar Mohie Eldin Ahmed Fahmy expressed such interests when he met DCCI President Ashraf Ahmed at the DCCI on Tuesday, reports BSS.

Welcoming the Ambassador, DCCI President Ashraf Ahmed said that Bangladesh's frozen food, shrimp and delicious mangoes are being exported in large quantities to other countries of the world, including Europe, which has a great opportunity in Egypt.

He requested the entrepreneurs of Egypt to import products or services under Information Technology (IT), leather products, ready-made garments, ceramics, and medicine from Bangladesh.

Besides, Ashraf Ahmed emphasized on Egypt's experience and technical support for the development of Bangladesh's river-based tourism industry, said a press release.

The DCCI President opined that Bangladesh can be considered as a gateway to South and Southeast Asian countries in terms of increasing Egyptian exports.

He also requested the Egyptian entrepreneurs to come up with investments in Bangladesh's economic zones or export processing zones.

Ashraf also put emphasis on the development of bilateral relations between the trade organizations of the two countries and signing of the memorandum of understanding with the Egyptian trade organizations for faster business to business connections.

He moreover suggested arranging frequent sector-specific targeted B2Bs between the investors of both countries.

Ambassador of Egypt in Bangladesh Omar Mohie Eldin Ahmed Fahmy said that despite fifty years of diplomatic-friendly relations between Bangladesh and Egypt, the commercial relationship has not yet reached the expected level, where the bilateral trade in the fiscal year 2022-23 was only $180.55 million.

He called upon the Bangladeshi importers to import more petrochemicals and fertilizers from Egypt.

The envoy said that an Egyptian company has already invested in Bangladesh's telecommunication sector, and they are functioning quite well here in Bangladesh.

The Ambassador noted that the pharmaceutical industry in Bangladesh is flourishing day by day and there is a strong demand for cancer drugs in the Egyptian market, which Bangladeshi entrepreneurs can take advantage of.

He mentioned that Bangladesh can utilize the port of Egypt as a 'trans-shipment hub' while exporting products to Europe and other parts of the world.

Also, Egypt could be one of the best alternative sources of onion imports to meet Bangladesh's demand, he opined.

DCCI Senior Vice President Malik Talha Ismail Bari, Vice President Md. Junaed Ibna Ali and the Deputy Chief of Mission of the Egyptian Embassy Soheila Mahran were also present at the meeting.