Saudi-Bangladesh Chamber of Commerce debuts tomorrow to boost bilateral trade, investment
300 acres of land have been allocated for Saudi investment in the Chittagong Special Economic Zone, says the chamber president
The Saudi Arabia-Bangladesh Chamber of Commerce and Industry (SABCCI) is set to be officially launched through a three-day bilateral business summit beginning tomorrow (6 October).
Speaking at a press conference held at the City Bank Center in Dhaka today (5 October), SABCCI President Ashraful Haque Chowdhury said, "For the first time, a formal business platform has been established between Bangladesh and Saudi Arabia. This chamber will take our economic relations to new heights."
The chamber president added that 300 acres of land have been allocated for Saudi investment in the Chittagong Special Economic Zone.
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He also highlighted opportunities for joint ventures in petrochemicals, green technology, and cybersecurity.
On manpower export, Ashraful Haque noted that nearly three million Bangladeshis are employed in Saudi Arabia, and there is growing potential to send skilled workers in healthcare, IT, agriculture, and textiles.
Amid ongoing geopolitical instability and global economic uncertainty, the newly formed chamber seeks to position Saudi Arabia as a promising alternative market for Bangladesh while strengthening bilateral trade and investment ties.
The chamber Vice President Ahmed Yusuf Walid emphasised that the SABCCI's vision goes beyond attracting Saudi investment. "We aim to expand bilateral trade by engaging Bangladeshi entrepreneurs already established in Saudi Arabia," he said.
City Bank Deputy Managing Director Mejbaul Asif Siddiqui added, "Our trade with Saudi Arabia's $1.2 trillion economy remains limited. With proper planning and incentives, this partnership can grow significantly."
A 20-member Saudi delegation, led by Sheikh Omar Abdulhafiz Amirbaksh, owner of Majd Al Umran Group, will arrive in Dhaka for the launch and summit events.
The summit includes a dinner reception tomorow, followed by a Business Summit at Hotel Sheraton on 7 October featuring entrepreneurs and experts from both countries.
Commerce Adviser Sheikh Bashir Uddin will attend as chief guest, while Bangladesh Bank Governor Ahsan H Mansur will be present as special guest.
The official inauguration of SABCCI will take place that evening, and the event will conclude with a press conference at Hotel Sonargaon on the final day.
