Italian firms eye deeper investment, technology partnerships in Bangladesh's textile sector: Envoy

Italian Ambassador to Bangladesh Antonio Alessandro has said Italy is looking to deepen its trade and investment ties with Bangladesh by expanding technology partnerships and encouraging Italian companies to explore new business opportunities.

Speaking to journalists after a workshop on Italian textile technologies and a business-to-business (B2B) meeting at the Chittagong Chamber of Commerce and Industry in Chattogram today (9 July), the ambassador said the visit reflected Italy's growing interest in Bangladesh's textile industry.

"I'm very happy to be in Chattogram. This is my fourth or fifth visit here, and every time I come I see a vibrant economic hub with tremendous potential and strong business activity. It is important for Italian companies to come here, see the opportunities firsthand and build relationships with local businesses," he said.

The ambassador said a delegation of 11 Italian textile machinery manufacturers, organised by the Association of Italian Textile Machinery Manufacturers under the Italian Trade Agency, visited Bangladesh to showcase their latest technologies and explore partnerships with local manufacturers.

"They have come to present their latest technologies, innovative solutions and machinery and to establish new contacts with Bangladeshi textile industries. We have received a very positive response today," he said.

Alessandro said the partnership between Italy and Bangladesh's garment industry dates back more than four decades.

"I've heard many stories about the origins of Bangladesh's garment industry. In many cases, the industry's journey began with Italian partners in the early 1980s. That friendship and partnership helped lay the foundation for the strength of Bangladesh's garment sector today," he said.

The ambassador described the current period as an important time for European businesses to engage with Bangladesh.

"As Bangladesh enters a new phase with greater stability, elections and a new government, this is the right moment for business delegations from Europe and Italy to come, explore opportunities, invest, trade and establish partnerships," he said.

He thanked the Chittagong Chamber of Commerce and Industry for organising the event and acknowledged Italy's Honorary Consul in Chattogram, Salman Ispahani, for strengthening bilateral business ties.

On Bangladesh's textile industry, Alessandro said the sector remains a key economic pillar, exporting more than $40 billion annually, and has made significant progress in workplace safety, technology and compliance since the Rana Plaza tragedy.

"The textile sector is already very strong and well organised. It is technologically advanced and much safer than before," he said.

However, he stressed that Bangladesh would need to diversify to remain competitive in a rapidly changing global economy.

However, he said Bangladesh must diversify to remain competitive in the changing global economy.

According to the ambassador, this means expanding into industries such as ceramics, leather and food processing, while upgrading the textile sector through advanced machinery, innovative fabrics, and greener, more sustainable production.

"There is still a lot that can be done through new materials, new technologies and more sustainable manufacturing," he added.

Alessandro acknowledged that foreign companies face challenges when investing in a country with a different legal and regulatory environment.

"Establishing a company more than 10,000 kilometres away, under a different legal system, is never easy. Investors need time to understand the local context and adapt," he said.

Despite those challenges, he said Italian companies remain interested in Bangladesh and are encouraged by what they see as a supportive approach from the government towards foreign investment.

"There are difficulties, but they are worth overcoming. We are happy to work together with our Bangladeshi partners and friends, and we believe foreign investment can be encouraged and successful," he said.

The workshop, presided over by CCCI President Amirul Haque, brought together representatives of Italian textile machinery manufacturers and Bangladeshi business leaders to discuss technology transfer, investment and industrial cooperation.

Among those addressing the event were PHP Family Vice Chairman Mohammad Mohsin Chowdhury, Ispahani Group Managing Director Salman Ispahani, Pacific Jeans Group Managing Director Sayed Tanvir, Independent Apparels Managing Director Abu Tayyab and former BGMEA Vice President MA Salam.