Top business leaders from Bangladesh are gearing up for an important visit to Saudi Arabia, aimed at bolstering commercial ties and exploring the Kingdom’s promising markets, as revealed by the head of the delegation to Arab News. The push for cooperation between the two countries gained momentum in March when Saudi Commerce Minister Majid bin Abdullah Al-Qasabi led a delegation to Dhaka at the invitation of the Bangladesh government and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
During the visit, significant investment agreements were inked, marking Saudi Arabia’s entry into Bangladesh’s energy, seaport, and agriculture industries. Additionally, both nations’ chambers of commerce established a joint council to facilitate bilateral business relations.
The forthcoming business delegation to Saudi Arabia, spearheaded by Sameer Sattar, President of the Dhaka Chamber of Commerce and Industries, is set to comprise around 50 to 60 members from diverse sectors. Sattar emphasized Saudi Arabia’s importance as a major market for Bangladesh. Traditionally, the country has predominantly focused on exporting to the EU and the US. However, with Bangladesh’s graduation from the least developed country (LDC) category by 2026 due to its attainment of middle-income status, it seeks to diversify its export markets and explore new opportunities worldwide.
The delegation is expected to include representatives from small, medium, and large enterprises. Sattar expressed his desire for prominent conglomerates like IFAD Group and United Group to be part of the delegation, given their diverse business interests in sectors ranging from food and automobiles to real estate, construction, healthcare, pharmaceuticals, and power and energy.
Enthusiasm for the visit is reciprocated by the Saudi Ambassador to Bangladesh, Essa Al-Duhailan, who called upon Bangladeshi businessmen and companies to explore the Saudi market and pursue joint ventures in line with Vision 2030. The Ambassador highlighted the vast scope of opportunities in Saudi Arabia across various industries, inviting investment and collaboration between the two nations’ businesses.
The business delegation’s visit to Makkah, Madinah, and Riyadh holds significant promise for fostering strong economic ties and creating mutually beneficial partnerships. As the delegation prepares to embark on this crucial journey, both Bangladesh and Saudi Arabia anticipate a fruitful exchange that will propel their economic growth and cooperation to new heights.
