Bangladesh, Qatar agreed to foster trade relations

Dhaka, April 16 (BDNEWS) – Bangladesh and Qatar Saturday signed Memorandum of Understanding (MoU) to foster the development and diversification of economic cooperation between the two countries. The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president Abdul Awal Mintoo and Qatar Chamber of Commerce and Industry (QCCI) chairman Mohammad Bin Khaled Mal Mana signed the MoU on behalf of the respective apex trade bodies of the two countries. Commerce minister Air Vice Marshall (Retd) Altaf Hossain Chowdhury, Minister for Economy and Commerce of Qatar Shaikh Mohammad Bin Ahmed Al-Thani addressed the signing ceremony held at Pan pacific Sonargoan hotel. Following the signing of MoU, both the trade bodies will exchange information on possibilities of cooperation and provide necessary support to organise fairs in both Bangladesh and Qatar while this will also encourage contacts and the visiting of business delegations between the two brotherly countries. To realise such objectives, a working section in both the countries will be established according to the conditions set forth in MoU. The MoU shall come into force from the date of signing till two years and may be extended for successive periods of two years by mutual consent and written notification. The local businessmen considered MoU would primarily pave way to exporting construction and building materials like cement, ceramics to Qatar. "The signing of MoU is a foundation to boost trade relationship between Qatar and Bangladesh," said FBCCI president Abdul Awal Mintoo. While the QCCI chairman said that the signing of MoU will help the business people of Qatar to be informed about the Bangladeshi products and investment potentials in Bangladesh. He also talked about the building and construction materials growing demand in Qatar. Besides, investment opportunities in Bangladesh will also be informed to the business people of Qatar, he said. Currently annual trade between Bangladesh and Qatar is very little, some $eight million Bangladeshi export against $three million of Qatar, the FBCCI leaders said they are expecting to export construction and building materials like cement and ceramics to Qatar as the country has only one cement industry. Businessmen said they will try to send skilled and educated Bangladeshi workers to Qatar as most of the 60,000 Bangladeshis at present working in Qatar are low paid and less educated. Following the visit of Amir of Qatar, as well as development of different bilateral issues, a Bangladeshi business delegation led by commerce minister will visit Qatar within the next couple of months while a delegation of Qatar will also visit Bangladesh. Besides, delegations of Qatar will visit Bangladesh to explore the business and investment potentials in Bangladesh. BDNEWS/1311 hrs