DCCI for forming joint commission with Vietnam

With a possibility of over $2 billion bilateral trade between Bangladesh and Vietnam, the Dhaka Chamber of Commerce and Industry (DCCI) on Tuesday called for forming a joint working commission engaging the private sector to take the opportunity.

DCCI President Rizwan Rahman made the call at a programme titled, “Bangladesh-Vietnam Business Networking Meeting” at the trade body’s office in Dhaka.

Alongside the business networking meeting, the DCCI hosted a business-to-business (B2B) matchmaking between the visiting 31-member delegation from Vietnam and their Bangladeshi counterparts.

Ministry of Industry and Trade Deputy Director General Do Quoc Hung led the business delegation while Vietnamese Ambassador to Bangladesh Pham Viet Chien also attended the event.

Speaking at the programme, Rizwan said, “The two countries have a win-win situation in trade and economy. We should take the opportunity to work together.”

He noted the bilateral trade between the two countries is very low. “So, connectivity is very important to increase the trade volume.”

The DCCI chief said, “The bilateral trade can be enhanced by $2 billion rationalising the trade gap through mutual cooperation, exchange of business delegation and joint research.”

Ambassador Pham Viet Chien said Bangladesh is a potential business partner of Vietnam. The bilateral ties between the two countries deepened further even in the post-pandemic era.

In the first nine months of this year, he said, both-way trade crossed $1.1 billion and it is growing day by day.

“The B2B arranged by the Dhaka chamber will pave the way to enhance linkages among the businesspersons,” the ambassador said. Pham Viet invited Bangladeshi entrepreneurs to invest in Vietnam as they are ready to share experiences and views with their Bangladeshi counterparts.

“As we have been very close friends for a long time, we need to support each other to strengthen the relationship.”

In his speech, Do Quoc Hung said the lack of linkages between both parties is responsible for the lower volume of trade. He also suggested more exchange of delegation between the two countries.

Do Quoc said as Bangladesh and Vietnam maintain a good inter-complementary trade relationship, both countries do not have to compete with each other.

“Vietnam has already implemented 15 free trade agreements. We can arrange B2B, and thus more opportunities will be created for businesses,” he added.

DCCI Senior Vice-President Arman Haque and Bangladesh-Vietnam Chamber of Commerce President SM Rahman also spoke on the occasion.