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Iraq keen to boost trade, investment in Bangladesh


Published : 20 Jan 2022 10:42 PM

Iraq has expressed its interest to boost trade and investment with Bangladesh and renew the trade agreements between the two countries.

Iraqi Ambassador to Bangladesh Abdulsalam Saddam Mohaimsen expressed interest at a meeting with Commerce Minister Tipu Munshi at his official residence on Thursday.

The ambassador also invited the Commerce Minister to visit Iraq at a convenient time to discuss trade and investment issues.

In response, Tipu Munshi said, "Bangladesh has an opportunity to enhance trade and investment with Iraq. To this end, it will be easier to identify trade and investment sectors if trade delegations from both the government and business levels of the two countries exchange visits.”

“Bangladesh signed a trade agreement with Iraq in 1971 to facilitate trade and commerce. It has the potential to strengthen economic cooperation between the two countries,” he added.

He said under the initiative of Prime Minister Sheikh Hasina the work of setting up 100 special economic zones in some important places of Bangladesh is progressing fast.

"Iraqi investors will benefit if they invest in Bangladesh's special economic zones. Bangladesh has made conducive environment for the investors and providing a number of attractive facilities. Iraq can take advantage of all these opportunities,” Tipu said.

Bangladesh exported goods worth USD $3.80 million to Iraq in the fiscal year 2020-2021. At the same time, it imported goods worth $53.42 million from Iraq.