DCCI: FTA with Algeria will increase bilateral trade

A Free Trade Agreement (FTA) between Bangladesh and Algeria will boost bilateral trade, said Rizwan Rahman, president of the Dhaka Chamber of Commerce & Industry (DCCI), on Monday.

Meeting with Algerian Ambassador to Bangladesh, Rabah Larbi, at the DCCI offices, DCCI President Rizwan Rahman said in a press release that bilateral trade between the two countries reached $98.28 million in fiscal year 2019-20.

Bangladesh mainly exports RMG products to Algeria and imports mineral products from there. In that fiscal year, Bangladeshi goods worth $5.90 million were exported to Algeria, and goods worth $90.79 million were imported from Algeria, he added.

The DCCI president invited Algerian investors to register for the Bangladesh Trade & Investment Summit, slated to start on 26 October. The Ministry of Commerce and DCCI will organise the event jointly for B2B matchmaking.

He requested Algeria to hire more skilled manpower and professionals from Bangladesh.

Algerian Ambassador Rabah Larbi said regular contact between the commercial chambers of Algeria and Bangladesh would pave the way for enhancing bilateral trade and investment.

Algerian investors are keen to work in the energy sector in Bangladesh, he added.

Appreciating DCCI's effort to organise a business summit this month, the Algerian Ambassador said he would request Algerian investors and traders to join this summit.

He also urged direct contact of business people from both countries.

Rabah Larbi said, as a developing country, there are huge opportunities in Algeria to explore for business.

Bangladesh can import fertiliser, cement, and fruits from Algeria, he added.