Minister for Commerce, Trade, and Industry of Eswatini (former Swaziland), Senator Manqoba Khumalo, urged Bangladesh to strengthen business relations with his country.
"Bangladesh can reach the almost untapped market of Africa worth $1.3 billion by expanding business ties with Eswatini," he said at a discussion meeting with the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in Dhaka on Tuesday, reads a FBCCI press release.
Highlighting Tax and Duty-Free facilities and other incentives for foreign investors, Senator Manqoba said China and India are the two major exporters to Eswatini, while his government would like to see Bangladesh as another important trade and investment partner.
"Bangladesh may treat Eswatini as a potential market for exporting readymade garments, agro products, and ICT and electronic products in particular. We, an African country, are interested in joint ventures as well," he added.
Eswatini's funding and Bangladesh's experience could be applied in the pharmaceutical industry, biotechnology, contract farming and ICT, the Eswatini minister added.
With its strategic geographic location, Eswatini is a gateway to the African continent, Senator Manqoba added.
Earlier, FBCCI Senior Vice President and Acting President, Mostofa Azad Chowdhury Babu, proposed a Memorandum of Understanding (MoU) can be inked between FBCCI and its Eswatinian counterpart to bolster bilateral trade and investment.
The acting president proposed setting up an Eswatini High Commission in Dhaka as Bangladeshis currently have to process Eswatini visas from Malaysia.
Mostofa Azad also suggested arranging B2B meetings, webinars, and exchange of delegations to take bilateral trade to newer heights.
Earlier in the meeting, the potential for assembling electronic products and mutual tourism development were discussed.
Eswatini's undersecretary of Ministry of Commerce for Industry and Trade, Cebile Amanda Nhlabatsi, its MSME Director MlulekiSakhile Dlamini, Senior Executive Manager of Eswatini Investment Promotion Authority, Khanyisiie Dlamini, representatives from the Bangladeshi business community in Eswatini, Mohammed Asraful Alam Chowdhury, Badruzzaman Chowdhury, and Badral Alam Chowdhury, were present at the meeting.