Bangladesh-RAK chamber holds meeting to strengthen bilateral trade relations

A high-level networking meeting was recently held with the Ras Al Khaimah (RAK) Chamber of Commerce and Industry to further strengthen the economic and trade relations between Bangladesh and the United Arab Emirates.

The meeting, held on August 27, focused on areas of mutual interest, new investment opportunities in Bangladesh, and various investment reform initiatives undertaken by the current government.

During the meeting, Bangladesh Ambassador to the UAE (His Excellency) Tareq Ahmed formally invited the Chairman of the RAK Chamber and his delegation to visit Bangladesh during the upcoming Global Sourcing Expo, scheduled to be held in Dhaka in the second week of November.

Highlighting Bangladesh’s growing economic potential, RAK Chamber Chairman Mohamed Ali Al Nuaimi particularly praised the country’s expanding pharmaceutical industry, as well as its tourism and hospitality sectors.

He said that Julphar Gulf Pharmaceutical Industries, one of the leading pharmaceutical companies in the MENA and GCC regions, may undertake due diligence to explore potential investment opportunities in Bangladesh’s pharmaceutical sector.

The meeting also discussed the proposed Comprehensive Economic Partnership Agreement (CEPA) between Bangladesh and the UAE. Negotiations toward finalizing the agreement are currently progressing on the right track. Once signed, the CEPA is expected to serve as a major “game changer” in boosting bilateral trade and investment between the two countries.

Representing Bangladesh at the meeting were Ambassador HE Tareq Ahmed and Ashish Kumar Sarkar, Commercial Counsellor at the Bangladesh Consulate General in Dubai.

The RAK Chamber delegation was led by its Chairman Mohamed Ali Al Nuaimi and included First Vice Chairman Yousuf M. Ismail Al Blooshi, Director General Dr. Rashed Khalfan Al Nuaimi, and Deputy Manager Mohamed Hassan Al Sabab Al Teneiji, among others.

-SA