Dhaka, Cairo can reap mutual trade benefits: BGMEA

Bangladesh and Egypt have substantial scope to further engage in trade and investment and derive mutual benefits, said Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan.

He came up with the observation when Ambassador of Egypt to Bangladesh Haytham Ghobashy paid a courtesy call on him at his office in Dhaka recently, BGMEA said in a statement.

BGMEA Directors Asif Ashraf and Barrister Vidiya Amrit Khan were also present on the occasion.

They had discussions about possible areas of expanding trade between Bangladesh and Egypt and how both countries can collaborate in a meaningful way to boost bilateral trade.

They talked about how Bangladesh could import more raw cotton from Egypt to meet the growing demand of its RMG and textile industry.

The BGMEA president highlighted the key features and strengths of Bangladesh as a preferred place for investment, especially its mega projects for the development of infrastructure which will accelerate the country’s economic growth.

Faruque Hassan urged the envoy to encourage Egyptian businessmen to make investments in the potential sectors including high value-added and non-cotton textiles in Bangladesh.

The Ambassador requested BGMEA to look into the possibility of setting up joint ventures in the RMG and textiles industry in Egypt.

He expressed high optimism about further strengthening the bilateral ties on issues related to mutual interests in both countries.