Dhaka seeks Dutch investment, tech coop in agri-processing, cold storage

Bangladesh has sought cooperation from the Netherlands in investment and technology in four priority areas - agricultural processing, the establishment of cold storage facilities and post-harvest management, climate-smart agriculture, and irrigation management.

Agriculture Minister Abdur Razzaque made the call while speaking at an event titled "The Netherlands Agri Trade Mission to Bangladesh" held at a Gulshan hotel on Tuesday.

The Netherlands Embassy in Dhaka is hosting the agri-trade mission, aimed at promoting bilateral cooperation between the two countries in the dairy and horticulture sectors.

During this three-day mission, nine companies and institutions from the European country will interact with Bangladeshi businessmen, entrepreneurs, experts, and individuals involved in agriculture-related fields to identify areas of investment and cooperation.

Representatives from HZPC, involved in potato production, processing, and research; East-West Seed, which produces and sells high-quality vegetable seeds; Anty BV, specialising in the supply of dairy processing machines; Allround, which provides vegetable processing solutions; Vreugdenhil, a producer of powdered milk; business development consultancy company Larive International; Delta Dutch; and PUM will visit the country on 22 June to explore investment opportunities.

Abdur Razzaque said that the investment plan has been prioritised in four sectors. The Netherlands' technical and investment cooperation is needed in these sectors.

"Bangladesh has infrastructure and government facilities for investment. These sectors will be very promising and profitable for investment. The country has a fair investment environment," the minister added.

Naser Ezaz Bijoy, president of the Foreign Investment Chambers of Commerce and Industry (FICCI) and chief executive officer of Standard Chartered Bank, made the keynote presentation at the programme.

He said the size of the food processing industry in Bangladesh is $7 billion and has good export potential. The country's exports of agriculture and agricultural products amount to $1.7 billion, and imports amount to $8.3 billion. There is scope for more planning and action to increase exports.

The top banker called upon the business associations to work together to foster an enabling environment for trade and expressed the need to extend financial services to dairy and horticulture producers.

The keynote speech states that through the purchase of farming equipment through a cooperative and the sharing of resources, non-government entities can help establish the cooperative and introduce high-yield crops, including vegetables, legumes, and soy, a key ingredient for animal feed. Seed varieties for import substitution and export diversification

Besides, it also highlighted that the Netherlands has opportunities for cooperation in soil nutrients, drip irrigation, and digital agri advisory.

Lokman Hossain Miah, executive chairman of the Bangladesh Investment Development Authority (Bida), said the one-stop service centre of Bida and its other services are targeted to meet the needs of foreign investors in Bangladesh.

Thijs Woudstra, Chargés d'affaires at the Netherlands Embassy, said, "The Trade Mission confirms the results of market studies conducted, which show a great potential for trade and investment between Dutch companies and Bangladeshi companies."

Dutch Ambassador Anne van Leeuwen said the great potential for Bangladesh to develop its agricultural sector in combination with Dutch expertise and quality products offers a strong basis for Bangladesh-Dutch cooperation.

"We do feel that there is a win-win situation for Bangladeshi and Dutch entrepreneurs, as well as for both countries, in working together to further develop agricultural production and exports in Bangladesh," he added.

The focus of this event was to bring together businesses in the dairy and horticulture sectors, including meat production, open and covered cultivation, potatoes, and flowers, and encourage knowledge sharing on emerging trends and advancements.