President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Kazi Akram Uddin Ahmed on Friday sought duty-free access of all Bangladeshi products to Iran under the Preferential Trade Agreement. The apex trade body chief also stressed more flexible visa regime between the two countries to give a boost to bilateral business.
He sought the initiatives during a breakfast meeting with Minister for Industry, Mine and Trade of Iran Dr Mehdi Ghazanfari held at Pan Pacific Sonargoan Hotel.
Iranian Ambassador to Bangladesh Hossein Aminian Toussi, FBCCI first vice president Monowara Hakim Ali, FBCCI director AKM Shahed Reza and Secretary General of FBCCI Shahabuddin Mohammad were also present at the meeting.
The Iranian Minister said in pursuant to signing of MoU and Joint Business Council, both the countries need a lot to do to promote trade and investment.
The Bangladesh side mentioned the exchange, banking and visa issues which are presently hampering trade and investment.
The Iranian minister assured that visas will be issued to Bangladeshi businesspeople on FBCCI’s recommendation.
He also offered to open an account in any designated Bangladeshi bank from where payments to both the exporters and importers will be made in local currency.
The FBCCI President said the matter will be taken up with the Bangladesh Bank as well as the government.
The Iranian Minister also assured to provide PTA to Bangladeshi products and emphasised that the Joint Business Council should be activated among the private sectors.
Both sides emphasised on exchange of business delegation and opening of air links between the two countries.
The FBCCI president also called upon the Iranian investors to invest here as Bangladesh provides low-cost production base and incentives, especially in agro, textiles and leather sectors.
He also emphasised increasing regular direct air links between Dhaka and Tehran under the existing bilateral Air Service Agreement and in this regard he encouraged private airlines services.
In 2011-2012, the total trade volume between the two countries was about US$ 95.16 million as Bangladesh exported products worth about US$ 83 million while imported from Iran products worth US$ 12.16 million during the period.
Bangladesh mainly export knitwear, raw jute, chemicals products while import from Iran are mineral products, textiles and textiles articles, plastics and rubber articles, chemical products, base metals etc.
The FBCCI and the Iran Chamber of Commerce, Industry and Mines (ICCIM) signed a Memorandum of Understanding (MoU) in 1987.
A joint Business Council between FBCCI and Iran Chamber of Commerce was formed in May 2000 during the visit of FBCCI business delegation to Iran for promoting trade and investment. A Preferential Trade Agreement (PTA) was also signed on July 26, 2006. UNB
