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BGMEA, Iraqi Federation of Chambers to promote bilateral trade, investment

BGMEA, Iraqi Federation of Chambers to promote bilateral trade, investment

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Iraqi Federation of Chambers are keen to collaborate in promoting bilateral trade and investment in an effort to explore trade and investment opportunities in new markets. A delegation of BGMEA, led by its President Faruque Hassan, is visiting Iraq. Other members of the delegation are Mohammed Nasir, former Vice President (Finance), BGMEA, Nazrul Islam, former Director, BGMEA; Mohammed Shohel, Managing Director, Bangla Poshak Ltd; Mohd Shawket Hossain, Director, Bangla Poshak; and Nisher Khan, Managing Director, Banika Fashion Ltd.

During their four-day trip, they have meetings with Iraqi government's ministers, trade bodies, businessmen and other stakeholders to promote and boost trade relations between Bangladesh and Iraq, said a press release.

On Aug 22, the BGMEA delegation met Abdulrazak Al-Zuheere, President of the Federation of Iraqi Chambers of Commerce, to discuss potential collaboration to foster mutually beneficial partnerships between Iraq and Bangladesh stakeholders.

Ambassador of Bangladesh to Iraq Fazlul Bari was present at the meeting which was also attended by Adil O. Hussein, President of the Iraqi Federation of Industries and Sabahaldin Al-Salihi, President of Kirkuk Chamber of Commerce.

During the meeting, they discussed the investment climate in two countries, the available opportunities and the possibility of enhancing mutual trade and investment.

They had discussions also on how both sides could work together to facilitate communication and engagement between businessmen of the two countries and enhance cooperation between the private sectors in various fields of trade and investment.

BGMEA President Faruque Hassan highlighted Bangladesh as a promising and attractive destination for investment with developing infrastructures and investment-friendly facilities.

He urged the President of Iraqi Chambers of Commerce to encourage Iraqi investors to invest in Bangladesh and benefit from the favorable investment climate. Faruque also presented an overview of the readymade garment industry of Bangladesh, its strong position in the global market, and prospects of garment exports to the Iraqi market.

President of Iraqi Chambers of Commerce Abdulrazak Al-Zuheere briefed the BGMEA delegation on trade and investment opportunities in Iraq and assured them of cooperation and support to do business in the country. He also praised the visit by the BGMEA delegation, mentioning that it would pave the way for widening business horizon between Bangladesh and Iraq.

Faruque expressed the interest of the Iraqi Federation of Chamber in having engagement with the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) to promote bilateral trade and investment.

The BGMEA President thanked the Iraqi Chambers of Commerce for providing its space to the visiting BGMEA team to display Bangladeshi garments to Iraqi buyers and hold B2B meetings.