Algeria keen to increase trade ties with Bangladesh

Algeria has called upon the Bangladeshi businessmen to further bolster bilateral trade and economic ties between the two countries through establishing a business network with their counterpart.

“Algeria is interested in increasing trade with Bangladesh for the sake of economic development of the two countries, ‘’ said ambassador of Algeria to Bangladesh Rabah Larbi during a meeting with Dhaka Chamber of Commerce & Industry president Rizwan Rahman in the city on Monday.

Underscoring the need for establishing a business network between the business people of Algeria and Bangladesh, Algerian ambassador Rabah Larbi said, “Regular contact between the Chambers of the two countries would pave the way for enhancing bilateral trade and investments.”

He also said that Algeria is a developing country with a huge potential to explore more business opportunities.

“Moreover, Algerian investors are also keen to work in the energy sector in Bangladesh while the country can also import fertilizer, cement and fruits from Algeria,” said ambassador Rabah Larbi.

At the meeting, DCCI president Rizwan Rahman said. “Bilateral trade between Bangladesh and Algeria reached $98.28 million in FY’2019-20 of which, Bangladesh’s export was $5.90 million while import was $92.38 million.”

Bangladesh mainly exports RMG products to Algeria while the country’s main import from Algeria is only mineral products. Rizwan, however, requested the Algerian ambassador to hire more skilled manpower and professionals from Bangladesh.

He also invited Algerian investors to attend the upcoming Bangladesh Trade and Investment Summit to be jointly organised by the Ministry of Commerce and DCCI for B2B matchmaking.

“Bangladesh Trade and Investment Summit” is scheduled to be held between October 26 and November 1.

Ambassador Rabah Larbi also appreciated DCCI’s effort to organise such a business summit this month while he also pledged that he would request the Algerian investors and traders to join this summit.

DCCI president also hoped that the virtual weeklong international investment summit would deepen Bangladesh’s collaboration with the potential investors from all the six continents across the globe.

The summit will promote the country as an attractive destination both for trading and foreign direct investment.