The country's apex trade-body urged Turkish businesses on Wednesday to set up factories of various key sectors here under joint venture (JV) for mutual benefits of the two countries.
It also proposed to transfer technology from Turkey to Bangladesh.
The proposed sectors for JV investment with Turkey are - ready-made garment (RMG), leather, information technology (IT), and agro-based industries etc.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) made the proposals at a meeting with the Turkey-Bangladesh Business Council (TBBC) held at the apex trade-body office.
Chairperson of TBBC Laura Gok led the Turkish delegation.
FBCCI President Md. Shafiul Islam (Mohiuddin) expressed his interest to establish JV companies with Turkey in sectors like RMG, leather, IT, and agro-based industries etc.
He mentioned that Bangladesh has achieved consistent gross domestic product (GDP) growth of over 6.0 percent during the last couple of years and above 7.0 percent GDP growth in the past two years.
"Bangladesh is on the path of transforming into a middle-income country by 2021."
He informed the Turkish businessmen about the lucrative investment facilities, provided by Bangladesh government, including tax holiday, avoiding double taxation, corporate tax incentive etc.
The FBCCI president invited the Turkish businessmen to invest in or set up JV companies in the economic zones here or outside the zones.
FBCCI senior vice-president Sheikh Fazle Fahim said they will review the memorandum of understanding (MoU) signed between FBCCI and TBBC to focus on future plans for exploring markets and potential sectors of investment.
He also sought knowledge transfer from Turkey to foster the development process of Bangladesh.
The TBBC chairperson expressed interest to import more products from Bangladesh.
She also emphasised working of both the countries more closely to further boost up the bilateral trade.
Bangladesh exported goods worth US$ 631.63 million to Turkey in the fiscal year 2016-17, and imported goods to the tune of $ 212.30 million.
The major export products of Bangladesh to Turkey are - woven garments, jute and jute goods, knitwear, manmade filaments and staple fibres, ceramic products and home textiles etc.
The import items from Turkey are - machinery and mechanical appliances, electrical equipments, textiles and textile articles, products of chemical or allied industries, plastics and rubber articles etc.
Commercial counsellor of Turkish Embassy Murat Yarat, assistant coordinator of TBBC Tulin Avci, and FBCCI directors Rejaul Kariem Rejnu, Md. Abu Naser, Masud Parvez Khan Imran and Nizamuddin Rajesh, among others, were also present.
talhabinhabib@yahoo.com