DCCI delegates off to UAE aiming to expand bilateral trade, investment
The delegation members will also explore new business opportunities there
A 29-member business delegation of Dhaka Chamber of Commerce and Industry (DCCI), led by its President Taskeen Ahmed, will leave Dhaka for the United Arab Emirates (UAE) on 24 February for a three-day visit.
They are aiming to enhance bilateral trade between Bangladesh and the UAE, expanding export of Bangladeshi products to the Middle Eastern markets, including the UAE, as well as attracting investment to Bangladesh and strengthening economic diplomacy and ties, said a press release.
During the visit, the business delegation of DCCI will participate in several bilateral business meetings and B2B sessions with Abu Dhabi Chamber, Dubai Chambers and Sharjah Chamber of Commerce & Industry.
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Members of the delegation from Bangladesh will get an opportunity to showcase their area of interest, products line up, export or import interest, scope of joint ventures to the entrepreneurs of UAE through the business matchmaking (B2B) sessions in three Chambers.
Out of total non-resident Bangladeshis working abroad worldwide, more than 17% are currently working in the UAE and considering the size of the labor market, which is the second largest.
The total trade volume between Bangladesh and the UAE reached nearly $2 billion in FY2024, and the scope of bilateral trade and investment continues to grow.
In addition to that, competitive investment framework, fiscal and non-fiscal incentives, conducive environment for foreign investors, targeted tax concessions in various industries, 100% foreign ownership, bonded warehousing facility, effective intellectual property protection, investors' protection and double taxation treaty with more than 36 countries including the UAE have made Bangladesh an attractive destination for UAE investment.
Particularly, Dubai's strategic location can be considered a key gateway for Bangladeshi traders to access the growing halal market in the Middle East. Besides, UAE can be one of the best sources for Bangladesh's LNG imports under a long-term cooperation between the UAE and Bangladesh.
The delegation will return to Bangladesh on 28 February.
