Only a handful of Spanish companies are doing business in Bangladesh, although there is a huge potential to increase trade between the two countries.
It is possible to increase the trade volume. In order to do this, Bangladesh has to be introduced to the Spanish entrepreneurs.
Spanish Ambassador to Bangladesh Francisco de Asís Benítez Salas said this to Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) President Jashim Uddin during a courtesy call at the latter's office at Motijheel in the capital on Thursday.
He said a commercial wing was launched at the Spanish Embassy in Dhaka in 2018 with the aim of strengthening trade relations between the two countries.
"A few companies including Inditex and Zara are doing business in Bangladesh. Many Spanish companies are among the top organisations in the world in a number of sectors, including agriculture and food processing, machine manufacturing. But those companies do not have any overall idea about Bangladesh. As a result, the potentiality of increasing trade relations between the two countries is not being explored," the Spanish ambassador added.
"It is important to develop relations between the businessmen of Bangladesh and Spain in order to strengthen trade relations between the countries," said FBCCI President Jashim Uddin.
"Exchange of business information will be easier if FBCCI signs a Memorandum of Understanding (MoU) with the Spanish apex trade body," he added.
The Spanish ambassador also was in agreement with the FBCCI president. Jashim Uddin informed the ambassador that a draft of the MoU will be sent to the Spanish embassy soon.
Informing about the establishment of 100 economic zones across the country, the FBCCI president said Spain can choose a dedicated economic zone to set up factories like China, Japan, Korea, and India. Bangladesh is an attractive destination for foreign investors for its huge domestic market.
FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, who was also present at the meeting, highlighted the possibility of joint ventures and investments in the ceramic and tiles sector.
FBCCI Vice Presidents MA Momen and Md Habib Ullah Dawn, Director Mohammed Riyad Ali, and CEO Mohammad Mahfuzul Hoque, among others, also attended the meeting.