Iran, Bangladesh stress need for joint investment

July 19, 2020 - 13:19

TEHRAN – During a meeting between Bangladesh’s Ambassador to Tehran Gousal Azam Sarker and Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Gholam-Hossein Shafeie in Tehran on Saturday, the two sides emphasized the need for carrying out some joint investment projects.

The Bangladeshi envoy voiced his country’s readiness for joint investment with Iran and said, “Given the current situation, we must take smart and innovative steps to develop relations between the two countries. In this regard, in addition to investment and carrying out joint projects, barter trade can be a good solution”, ICCIMA news portal reported.

The ambassador also stressed the importance of investment and joint activities between the private sectors of the two countries and said: “By joint investment, you can focus on new products and gain new markets, it will also have a combined effect and lead to the transfer of technology and knowledge.”

Shafeie for his part mentioned the D-8 Summit, which was scheduled to be held in Dhaka this year but became postponed due to the coronavirus outbreak, and said that this summit is going to be an opportunity to negotiate with member states and develop Iran's relations with these countries.

Expressing dissatisfaction with the two countries’ current level of trade, Shafeie said: “There have always been good grounds and capacities for cooperation between Iran and Bangladesh that have been neglected so far. In this regard, we can use barter trade to solve the problem of banking transactions.”

There are many commodities produced in the two countries that can be exported to meet the needs of the other side; for example, rice, tea, and hemp produced in Bangladesh are of better quality than other countries in the region and have a good market in Iran. These products can be bartered with Iranian products consumed in Bangladesh, ICCIMA head said.

The official also criticized the seven-year delay in holding the two countries’ joint Economic Committee Meeting and said: "I hope this meeting will be held again and will be the beginning of expanding relations between the two countries."

He further referred to the preferential trade agreement concluded between the two countries and approved by the Iranian parliament, and expressed hope that it would be implemented as soon as possible.


Photo: Bangladesh’s Ambassador to Tehran Gousal Azam Sarker (L) meet with ICCIMA Head Gholam-Hossein Shafeie in Tehran on Saturday.