CHAMBER OF COMMERCE AND INDUSTRY OF THE REPUBLIC OF ARMENIA

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Armenia-Bangladesh economic ties

Armenia-Bangladesh economic ties

On January 25, the Chamber of Commerce and Industry of RA hosted the Ambassador Extraordinary and Plenipotentiary of the People’s Republic of Bangladesh to the Republic of Armenia Gusal Azam Sarker.

The President of the Chamber Martin Sargsyan presented the functions of the Chamber of Commerce and Industry of RA, the membership in international structures, the foreign representations, which are engaged abroad, presenting the products of Armenian businessmen in foreign markets, creating new economic ties. Mr. Sargsyan emphasized the need to intensify Armenia-Bangladesh economic ties for which there are very favorable conditions and untapped opportunities.

Ambassador Sarker continued the starting point of the meeting -“Mr. Sargsyan, you are rightly noticed that there is a great potential for development, for which we are here with the expectation of joint implementation. I’m glad to say, that there is a wonderful Armenian community in Bangladesh. In Bangladesh Armenian businessmen have created many businesses in important fields. You can also implement joint programs through your powerful Diaspora”. The ambassador mentioned that Bangladesh has many ports, international sea lanes, other infrastructures that facilitate cargo transportation, and become a kind of economic bridge between the countries of the region. Developed branches are textile, fish farming, leather, high technologies, pharmaceuticals, agriculture, etc.

The diplomat said – “In order to imagine the sectoral volumes, I should mention that Bangladesh has about 5000 textile industry enterprises – great export opportunities”. There are about 100 free economic zones in Bangladesh, and 9 export processing centers, where there are a number of preferential terms for investors. Bangladesh, in particular, accounts for about 10 percent of the world’s leather industry and prospects for cooperation in that field are also visible.

Vladimir Amiryan, Operational Director of CCI of RA, especially in the context of export-investment attraction, mentioned the programs aimed at developing the Chamber’s foreign economic relations, as well as the role of the parliament in creating a favorable investment environment for economic legislation.

The President of the CCI of RA offered to cooperate in the field of jewelry and diamonds, as Armenia has highly qualified specialists, a serious technical base and a great experience.

At the suggestion of Mr. Sargsyan, an agreement was reached to establish friendly relations between the Chambers of Commerce and Industry of the two countries, to prepare the ratification of the Memorandum of Understanding, which will be the first step to start cooperation.

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