Algerian Ambassador to Dhaka, Rabah Larbi, expressed interest in signing a memorandum of understanding for increasing trade with Bangladesh during a courtesy meeting with FBCCI President Md Jashim Uddin, on Wednesday.
The agreement with the Algerian Trade Organisation would increase trade and investment opportunities between the two countries, said a press statement.
Responding positively to the proposal, FBCCI President Md Jashim Uddin said, "Trade associations of more than 50 countries of the world have signed about 150 MoUs with FBCCI."
The FBCCI president also promised to soon send a draft agreement to the Algerian embassy in Dhaka.
FBCCI's Mostofa Azad Chowdhury Babu, senior vice president, Amin Helaly, vice president, and Mohammad Mahfuzul Hoque, secretary general of FBCCI, were also present at the event.
At present Algeria imports jute and jute products, woven and knitwear garments, home textiles, and footwear, from Bangladesh. It also buys a significant amount of consumer goods, cereals, dairy products, plastics, and medicines every year on the world market.
The Memorandum of Understanding between the Algerian Chamber of Commerce and Industry and the FBCCI could be mutually beneficial.