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Bangladesh urges Argentina to set up edible oil refineries

Staff Correspondent
28 Feb 2023 17:24:06 | Update: 28 Feb 2023 17:26:31
Bangladesh urges Argentina to set up edible oil refineries
— PID Photo

Commerce Minister Tipu Munshi has urged the visiting Argentine Minister for Foreign Affairs, International Trade and Worship Santiago Andrés Cafiero to consider setting up refineries in Bangladesh’s special economic zones (EZ) to ease the marketing of edible oil here.

Tipu Munshi made the call after signing a memorandum of understanding (MoU) with Santiago at the Secretariat on Tuesday, adding, “Bangladesh imports a large quantity of soybean oil and sugar from Argentina annually.

“If Argentina sets up edible oil refineries in Bangladesh’s special economic zones (EZ) and markets this oil here, it would be more affordable.”

The MoU is aimed at strengthening bilateral ties between the two countries.

Tipu Munshi also asked the visiting minister for cooperation in purchasing soybean oil directly from Argentina through the Trading Corporation of Bangladesh (TCB), placing emphasis on increasing bilateral trade.

Mentioning that Argentina placed significant importance on trade with Bangladesh, Santiago said, “Bangladesh can import edible sunflower oil aside from soybean oil and wheat from us. Argentina is also interested in investing in export-oriented industries in Bangladesh.”

The MoU signing ceremony was moderated by the commerce ministry’s Senior Secretary Tapan Kanti Ghosh.

Members of the Argentine delegation, TCB Chairman Brig Gen Md Ariful Hassan, the ministry’s Additional Secretary (FTA Wing) Noor Md Mahbubul Haq, Additional Secretary Hafizur Rahman, and senior officials of the ministry were present on the occasion.