Bangladesh-Türkiye Business Forum (BTBF) was formally launched on Tuesday, aiming to facilitate and increase bilateral trade and investments between the two countries.
Salman F Rahman, private industry and investment adviser to the Prime Minister, was present as chief guest at the launching ceremony held at the Turkish Residence in the city.
As a result of growing interactions between businesses and entrepreneurs, the Turkish Embassy in Dhaka took the initiative to encourage and support the establishment of the ‘Bangladesh-Türkiye Business Forum’ (BTBF) formed in mid of last year.
Led by the managing director of Mohammadi Group and former president of Bangladesh Garment Manufacturers and Exporters Association, Dr Rubana Huq and Salahuddin Kasem Khan of AK Khan Group of Companies as co-chairperson, BTBF brings together 13 Bangladeshi conglomerates and six Turkish companies operating in Bangladesh.
Speaking at the event, outgoing Turkish Ambassador Mustafa Osman Turan said that during his three-year tenure in Bangladesh, they had made significant progress in trade volume and Turkish investments in Bangladesh. Mr Turan expressed his confidence that this progress would continue.
“ICT and pharmaceutical industries appear as promising fields of cooperation as well as agro-industry and light engineering. Bangladesh can also benefit from the growing interest of the Turkish contracting companies to participate in infrastructure and transport projects,” he said, adding that a Turkish company recently won a highway construction work.
The bilateral trade between the two countries stood at about US$888.41 million in the fiscal year 2021-22. Bangladesh exported goods worth US$458.15 million in the last fiscal.
Local readymade garment exports to Turkey have fallen drastically in recent years. They stood at US$ 193 million in the last fiscal which was US$ 622.37 million in fiscal 2013-14, mainly due to the 17 per cent safeguard duty imposed by Turkey.
