Bangladesh seeks trade hub with ASEAN

Bangladesh aims to become a vital trade hub and economic link between ASEAN, South Asia, and Southeast Asia as it prepares to graduate from the category of Least Developed Countries (LDC) in 2026. 

This vision was expressed by Dr. Joshoda Jibon Deb Nath, Vice President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), during a meeting with H.E. Mr. Vuong Dinh Hue, President of the National Assembly of Vietnam. The meeting took place at the Hotel InterContinental in Dhaka.

Dr. Nath highlighted the potential for Bangladesh to enter into Free Trade Agreements (FTA) and Preferential Trade Agreements (PTA) with emerging economic powerhouses in Southeast Asia.

ASEAN seeks to expand its economic relations with various developed and developing nations, and Bangladesh, given its economic capacity and geographic location, could serve as a bridge between South and Southeast Asia.

H.E. Mr. Vuong Dinh Hue acknowledged the excellent bilateral friendship shared by Bangladesh and Vietnam, which recently marked 50 years of diplomatic relations.

During a discussion meeting titled ‘Forum on Policies and Laws to Promote Economic, trade, and investment cooperation between Vietnam and Bangladesh,’ FBCCI Vice President Shomi Kaiser emphasized the significance of economic and trade partnerships between the two nations.

Bilateral trade has been on the rise, reaching $1,102.77 million in 2021-22. Of this, Bangladesh exported goods worth $92.77 million to Vietnam, while imports from Vietnam totaled $1,010 million.

Kaiser extended an invitation to Vietnamese entrepreneurs to invest in Bangladesh’s 100 Special Economic Zones, Hi-Tech parks, and tourism sectors, highlighting the numerous opportunities for collaboration.

The event was attended by various dignitaries, including H.E. Mr. Nguyen Manh Cuong, Ambassador of the Socialist Republic of Vietnam, Md. Alamgir, Secretary General of FBCCI, Ambassador Mosud Mannan ndc, Head of the International Wing, and business leaders from both Bangladesh and Vietnam.

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