Business

Bangladeshi businesses seek tariff cut in Turkiyë

DCCI President meets Turkish Trade Minister


Published : 04 Oct 2022 10:28 PM

The President of Dhaka Chamber of Commerce & Industry (DCCI) Rizwan Rahman met the Turkish Minister for Trade Dr. Mehmut MUS at his Ministry in Ankara, Turkiye on Sunday.  

During the meeting, Rizwan Rahman said that the bilateral trade between Bangladesh and Turkiye is around USD 900 million which is not satisfactory at all. 

The existing bilateral trade can be enhanced over USD 2 billion through more trade diversification. He also said that the progress in public-private and B2B partnership between the two countries remain low. 

He said that Turkish investors can consider Bangladesh’s 100 economic zones and 28 high-tech parks as their preferred investment destination.  

He also requested the Minister to allow extend the current duty free quota free tariff line facility to Bangladesh which is now 79.9% for trade growth. Moreover, Joint Economic Commission meetings should be held regularly to arrange effective joint exhibitions and seminars on bilateral economic issues and address trade issues. 

Furthermore, Bangladesh and Türkiye can work and advocate together to form an effective D-8 economic bloc. Bangladeshi ceramic products do not get duty free quota free access to Turkish market rather 19% tariff is imposed on this product. 

Turkiye added an extra 17% tariff for Bangladeshi RMG products. He then requested the Minister to relax these tariffs on RMG and ceramic products for Bangladesh’s export growth.  Turkish Minister for Trade Dr. Mehmut MUS agreed that the bilateral trade between these two countries is not up to the expected level. 

He also termed Bangladesh as an attractive investment destination. Both the countries should work together to enhance this trade volume. He said that few Turkish companies are already doing their businesses in Bangladesh and they are doing very well. And this success will be an example for others to invest in Bangladesh. 

Ambassador of Bangladesh in Ankara Mosud Mannan, ndc was also present during the meeting.