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Bangladeshi businesses have sought tariff reduction in Turkiye to increase the existing bilateral trade between.
“At present, the bilateral trade between the two countries is around $900 million which is not satisfactory at all. The existing bilateral trade can be increased to over $2 billion through more trade diversification,” said President of Dhaka Chamber of Commerce & Industry (DCCI) Rizwan Rahman while meeting with the Turkish Trade Minister Dr Mehmet Mus at the latter’s office in Ankara on Monday.
Observing that the public-private and B2B partnership between the two countries are not satisfactory, he told the minister that Turkish investors can consider Bangladesh’s 100 economic zones and 28 high-tech parks as their preferred investment destination.
He also requested the Turkish minister to allow extend the current duty free and quota free tariff line facility to Bangladesh which is now 79.9% 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 Turkiye can work and advocate together to form an effective D-8 economic bloc. Bangladeshi ceramic products do not get duty free quota free access to Turkish market. Turkey has imposed 19 per cent tariff on ceramic products.
Turkiye recently imposed an extra 17 per cent tariff for Bangladeshi RMG products.
In this regard, Rizwan requested the minister to relax tariff on RMG and ceramic products for Bangladesh’s export growth. The Turkish minister also agreed that the bilateral trade between these two countries is not up to the expected level.
He termed Bangladesh as an attractive investment destination and said both the countries should work together to increase this trade volume.
He said some Turkish companies are already doing their businesses in Bangladesh and they are doing very well. And this success will be an example for others to invest in Bangladesh.
