Economy
FBCCI President Encourages Turkish Investment in Bangladesh’s Promising Sectors
Mahbubul Alam, the President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), has called upon Turkish businessmen to consider investing in the promising sectors of Bangladesh. This appeal was made during a meeting with Turkish Ambassador Ramis Sen at the FBCCI office in Dhaka.
During their discussion, both parties expressed a keen interest in boosting bilateral trade and investment between Bangladesh and Turkey. President Mahbubul highlighted the longstanding cordial relations between the two countries and emphasized the potential for these relations to flourish further.
He suggested that by identifying potential sectors and holding business-to-business (B2B) meetings, efforts could be made to expand trade and commerce between Turkey and Bangladesh. President Mahbubul pointed out that the Bangladesh government has initiated the establishment of approximately 100 special economic zones across the country, attracting both domestic and foreign investors. He encouraged Turkish investors to take advantage of this opportunity, facilitating their access to Bangladesh’s substantial consumer market and providing avenues for exporting products manufactured in labor-friendly Bangladesh, thereby boosting foreign exchange earnings.
The FBCCI assured its willingness to provide any necessary assistance to Turkish businessmen. Additionally, it was revealed during the meeting that Turkey has trade potential in various sectors of Bangladesh, including oil refining, construction, medicine, industrial chemicals, tourism, agriculture, dairy, shipbuilding, civil aviation, and shipping.
President Mahbubul praised Bangladesh’s favorable policies for foreign investors, emphasizing that setting up industries in the country’s economic zones would facilitate exports to other nations. He also advocated for the removal of tariff barriers to strengthen the export of garment products to Turkey.
Turkish Ambassador Ramis Sen commended Bangladesh’s remarkable development progress over the past 14 years and expressed Turkey’s interest in collaborating with Bangladesh to enhance trade ties. He extended an invitation to FBCCI to send a delegation to Turkey to explore business opportunities.
The meeting was attended by FBCCI vice presidents Khairul Huda Chapal, Mohammad Anwar Sadat Sarkar, Rashedul Hossain Chowdhury Roni, Md. Munir Hossain, and FBCCI directors, among others.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
