H. E. Haytham Ghobhashy, Ambassador, Embassy of the Arab Republic of Egypt to Bangladesh called on DCCI President Rizwan Rahman today on 27 January, 2021 at DCCI. DCCI Senior Vice President N K A Mobin, FCS, FCA, Deputy Head of Mission of Egypt Embassy Mariam M. Ragaei and Vice President, DCCI Monowar Hossain were present during the meeting.
DCCI President Rizwan Rahman suggested that Egypt can utilize Bangladesh to produce same or similar products to be price competitive in the African Continental Free Trade Area (AfCFTA). He also said that Bangladesh has the second largest pool of online workers in the world according to Oxford Internet Institute (OII). Egypt can utilize this expertise, he added. The trade gap between Bangladesh and Egypt is USD 33.54 million according to the statistics of 2019-20 FY. In 2019-20 FY Bangladesh’s export to Egypt was USD 28.36 million and imported USD 61.9 million. Jute is the major export item from Bangladesh which accounts for USD 31.33 million alone. Rizwan Rahman also requested the Ambassador to import cotton, knitwear, woven garments, footwear, pharmaceuticals and ceramic products. DCCI President proposed to set up `Egypt Help Desk’ in DCCI where entrepreneurs from both the countries shall get required information in terms of trade and investment. The desk will also work to enhance know-how and information sharing among the business people of Bangladesh and Egypt.
Ambassador of Egypt in Dhaka Haytham Ghobhashy said, to attract local and foreign investment and betterment of living standard of it citizen, Bangladesh has to improve its infrastructure sector, where Egyptian entrepreneurs can play a vital role for the development of this sector. He mentioned that the construction and infrastructure sector of Bangladesh are also very potential for the foreign investors where government and Private Sector of two countries can explore for joint collaboration. Ambassador also said that due to COVID-19 pandemic Egypt is more focused to do business and investment with the South Asian (south-south) nations, where he sought cooperation from Bangladesh to boost trade in these region. He informed that Egypt enjoys duty free and quota free access to USA, EU, Latin America and Middle Eastern countries and urged Bangladesh’s private sector to invest in Egypt to avail these facilities in terms of export.
Published on: 2021-01-27