Bangladesh Prime Minister H E Sheikh Hasina addressing the gathering.
Doha: Bangladesh Prime Minister Sheikh Hasina said Bangladesh and Qatar trade will reach new heights as both countries have enormous potential for growth in trade and investments.
She said both countries have maintained solid trade and investment relations over the years and added that there is plenty of potential for further acceleration of trade volumes from both countries.
The bilateral trade between Bangladesh and Qatar stood around $243.00m in 2017-2018.
Addressing a trade and investment summit titled “Potential of Trade and Investment in Bangladesh Forum” at St. Regis Hotel, Doha she said her country is interested in increasing energy exports from Qatar while in turn Qatar too could increase its imports from Bangladesh as both countries have plenty to offer each other to expand commercial ties .
Bangladesh mainly exports frozen food, processed food items, fruits and vegetables, tea and garments to Qatar while it imports urea fertiliser from Qatar. Bangladesh imports 800,000 metric tons of urea fertilizer from Qatar Fertilizer Company Limited (QAFCO) annually under a Memorandum of Understanding inked between the two countries in 2009. Bangladesh opened its diplomatic mission in Doha in 1975 which was reciprocated by Qatar with the opening of its mission in Dhaka in 1982.
The Premier also stressed on the need for both countries to form a joint committee on trade and investments and also a joint business forum to bring investors and businessmen on one platform that would help strengthen economic cooperation between the two countries.
Bangladesh offers incentives and facilities for investors and currently it is one of the biggest foreign exchange earners in the region. The Bangladesh economy recorded a significant growth of its GDP despite the repercussions of the Covid-19 pandemic on the global economy.
Bangladesh is on its way to being the 25th largest economy by 2035 from its current ranking of 41st largest economy. The country country’s per capita national income has reached $ 2,824 from $860 in 2011.
The current $ 426bn GDP of Bangladesh which doubled in the last six years with an average seven percent annual growth rate in the last decade is backed by a young and an energetic work force.
CEO of QFC Yousuf Mohamed Al Jaidah said that both countries are associated with strong relation, indicating that the QFC offers a host of investment incentives for foreign investors.
The event was also marked with a MoU signed between QFC and the Summit Group to increase joint collaboration in investing in the power and energy sector in Bangladesh.
The investment summit was organised by the Bangladesh Forum Qatar (BFQ), a non-profit, non-political business forum registered under the Qatar Financial Center (QFC).
