Egypt seeks stronger Bangladesh trade, investment ties
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Egypt expressed keen interest in strengthening economic and trade relations with Bangladesh, with its ambassador stressing the need for greater interaction between businesspeople and industrial entrepreneurs of the two countries to expand bilateral trade and investment.
Egyptian Ambassador to Bangladesh Omar Mohie Eldin Ahmed Fahmy conveyed the interest when he paid a courtesy call on Industries, Commerce and Textiles and Jute Minister Khandakar Abdul Muktadir at the Ministry of Industries on Monday, according to a press release.
The ambassador said Egypt is interested in deepening economic and trade ties with Bangladesh, particularly through greater cooperation in the industrial and investment sectors.
He assured that Egypt would continue to provide necessary cooperation to facilitate greater economic engagement between the two countries.
Welcoming Egypt’s interest in investing in Bangladesh, Muktadir called for greater bilateral cooperation in industries, trade and investment.
He said Bangladesh offers opportunities for foreign investment as the country continues to advance its industrialisation and economic development.
Muktadir urged Egyptian businesspeople and industrial entrepreneurs to invest in Bangladesh, saying Egyptian investment would benefit both countries by creating new business opportunities, expanding industries and generating employment.
“There are opportunities for Bangladesh and Egypt to work together in various sectors, including leather, light engineering, pharmaceuticals, jute and jute products,” he said.
The minister also stressed the importance of exchanging technology, skills and expertise and undertaking joint ventures in promising industrial sectors.
He said the government is taking various measures to create an investment-friendly environment and facilitate foreign investment.
Both sides expressed optimism that Egypt’s growing interest in investment and increased business-to-business contacts would help further expand industrial, trade and investment cooperation between Bangladesh and Egypt.