Europe-Bangladesh Chamber of Commerce (EBCC) will be formed soon to familiarise the country's products other than readymade garments (RMG) considering their market potential that will help expand bilateral trade, said FBCCI president Md Jashim Uddin on Saturday.
"There are many products- other than readymade garments- which are exported to Europe. The consumers are mainly expatriate Bangladeshis. Those products (excepting RMG) are not yet well-known in the mainstream market. In order to improve this situation, we will soon form the Europe-Bangladesh Chamber of Commerce for mutual benefits," he said at a discussion at the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) office.
The apex trade body chief added the initiative to found EBCC will be implemented by July next.
He said by this time many Bangladeshis have established their businesses abroad.
He urged these businesspeople to invest in the special economic zones of their homeland (Bangladesh).
Spotlighting the country's infrastructure, power and investment-friendly policies, the FBCCI chief said the income of the people of Bangladesh is increasing day by day.
"The country's population upon being large, its domestic market is also large. Therefore, by investing in this country, expatriates can play a greater role in the economic development of Bangladesh," he said.
PWC is conducting a study on the London market under the initiative of the FBCCI, he said, adding results of the study would be made known in the next few months.
Mr Jashim Uddin said based on the research outcome, FBCCI would take necessary measures to popularise Bangladeshi products in overseas markets.
Similar research initiatives will be undertaken in other countries as well in future.
He called upon the France-Bangladesh Economic Chamber to project the image of Bangladesh in France.
FBCCI Vice President MA Momen said various steps were being taken to enhance engagement with various trade organisations abroad.
Accordingly, in November last year, the FBCCI signed a memorandum of understanding (MoU) with MEDEF International (Mouvement des Entreprises de France International) and France-Bangladesh Economic Chamber in Paris.
"Consequently, B2B has become stronger; which will help in bringing foreign investment in the country," he said.
FBCCI Vice President Md. Amin Helaly said there exist almost all types of industries in Bangladesh. But since many of them are unauthorised there is absence of exact data.
He suggested identifying potential sectors to strengthen trade relations between France and Bangladesh.
President of France-Bangladesh Economic Chamber Kazi Enayet Ullah said with the establishment of the EBCC , it would be possible to ensure visible presence of Bangladeshi products in the main European economy.
He added trough EBCC various activities will be undertaken to enhance bilateral trade and attract European investment.
He recommended that the government create skilled workforce, saying the European labour market has undergone a massive coronavirus pandemic-induced change and will have to depend largely on overseas manpower.
President of the All-European Awami League M Nazrul Islam, Executive Director of France-Bangladesh Chamber of Commerce and Industry Rubaba Navera Sayeed, Vice President of France-Bangladesh Economic Chamber Fakhrul Akon Selim and FBCCI Adviser Manzur Ahmed also spoke.
FBCCI Vice President Md Habib Ullah Dawn and directors Priti Chakraborty and Dr Ferdousi Begum were also present at the meeting moderated by FBCCI Secretary General Mohammad Mahfuzul Hoque.
