Dhaka-Hanoi trade can cross $2bn if trade gap narrowed: DCCI president  

The bilateral trade between Bangladesh and Vietnam can reach $2 billion if the existing trade gap is narrowed through mutual cooperation, said Rizwan Rahman, president of Dhaka Chamber of Commerce and Industry (DCCI), on Tuesday.

At a meeting with the visiting 31-member business delegation from Vietnam, he said both the countries have grown remarkably in recent decades, thanks to different initiatives taken to strengthen economic cooperation. 

The bilateral trade between Bangladesh and Vietnam stood at $739.89 million in FY21. But Bangladesh's exports amounted to only $61.29 million, he noted. 

To minimise the gap, mutual cooperation, regular meetings of business delegations and joint research are needed, he also said. 

He also urged the Vietnamese investors to take the advantage of the existing competitive trade and investment ambiance in Bangladesh.

Rizwan Rahman called upon them for joint ventures and technology transfer in agro-processing, shipbuilding, electronics, textile, pharmaceuticals, leather, jute, ceramics, light engineering industries, economic zones and hi-tech parks. 

To ensure win-win trade relations, Bangladesh can be included as a member in the Regional Comprehensive Economic Partnership and Asean, he added.

Pham Viet Chien, Vietnamese ambassador to Bangladesh, at the meeting said Bangladesh is a potential business partner of Vietnam. Even in the post-pandemic era, bilateral relations have deepened. 

In the first nine months of this year, the both-way trade crossed $1.1 billion and is growing day by day, he noted. 

He invited Bangladeshi entrepreneurs to invest in Vietnam and they are ready to share experience and views with their Bangladeshi counterparts.  

Do Quoc Hung, deputy director general of the Ministry of Industry and Trade of Vietnam and head of the visiting delegation, said a lack of linkages between both parties are responsible for lower trade. 

Bangladesh and Vietnam maintain good inter-complementary trade relations where both countries do not have to compete with each other, he also said. 

Vietnam has already implemented 15 free trade agreements with different countries, he noted. 

He said, "The more we can arrange business to business (B2B) meetings, the more opportunities will be created for businesses." 

DCCI Senior Vice-President Arman Haque, President of Bangladesh-Vietnam Chamber of Commerce SM Rahman also spoke on the occasion. 

Later, about 100 member companies of the DCCI took part in an interactive B2B session with the 31 visiting Vietnamese companies.