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Turkey keen to invest in SEZs in Bangladesh: envoy
25 Jan '21
2 min read
Pic: Eastern Bank Ltd (EBL)
Turkish investors are eager to invest in special economic zones in Bangladesh because of attractive incentives, according to Turkish ambassador to Bangladesh Mustafa Osman Turan, who recently said told a meeting that his country wants to raise investment in Bangladesh and increase the bilateral trade volume through product diversification.
The Turkish envoy was meeting senior officials of Eastern Bank Ltd. (EBL) in Dhaka.
EBL managing director and chief executive officer Ali Reza Iftekhar briefed the ambassador on EBL's banking operation, its role in overall economic development of the country, COVID-19 response, and role in facilitating foreign trade and investment.
“EBL has established trade business in the area of import and export with Turkey. We have correspondent banking relationship with Turkish banks. We have ad-confirmation and financing against letter of credit by Turkish banks. Turkish banks are our partners in guarantee business. We issue local guarantee against counter guarantee of Turkish Banks” Iftekhar was quoted as saying in an EBL press release.
The envoy informed that Turkey is keen to diversify trade relations with Bangladesh and looking for cooperation in sectors like pharmaceutical industry, information technology, agro industries, light engineering, the service sector, tourism and health.
Present bilateral trade volume between Turkey and Bangladesh is around $1billion and Bangladesh’s yearly jute export to Turkey is worth $300 million.
“There will soon be a MoU signed between FBCCI [Federation of Bangladesh Chambers of Commerce & Industries] and Foreign Economic Relations Board of Turkey (DEIK),” the envoy informed.
He revealed a plan to initiate a Turkey-Bangladesh Business Platform soon to bring business leaders of both the countries together for better business understanding and cooperation.
The Turkish envoy was meeting senior officials of Eastern Bank Ltd. (EBL) in Dhaka.
EBL managing director and chief executive officer Ali Reza Iftekhar briefed the ambassador on EBL's banking operation, its role in overall economic development of the country, COVID-19 response, and role in facilitating foreign trade and investment.
“EBL has established trade business in the area of import and export with Turkey. We have correspondent banking relationship with Turkish banks. We have ad-confirmation and financing against letter of credit by Turkish banks. Turkish banks are our partners in guarantee business. We issue local guarantee against counter guarantee of Turkish Banks” Iftekhar was quoted as saying in an EBL press release.
The envoy informed that Turkey is keen to diversify trade relations with Bangladesh and looking for cooperation in sectors like pharmaceutical industry, information technology, agro industries, light engineering, the service sector, tourism and health.
Present bilateral trade volume between Turkey and Bangladesh is around $1billion and Bangladesh’s yearly jute export to Turkey is worth $300 million.
“There will soon be a MoU signed between FBCCI [Federation of Bangladesh Chambers of Commerce & Industries] and Foreign Economic Relations Board of Turkey (DEIK),” the envoy informed.
He revealed a plan to initiate a Turkey-Bangladesh Business Platform soon to bring business leaders of both the countries together for better business understanding and cooperation.
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