Diversified export items needed for sustainable economy: Netherlands Ambassador

It is heartening that Bangladesh is graduating from the LDC basket to MIC. But for a sustainable economy he urged for diversified export items other than RMG, ambassador of the Netherlands to Bangladesh Harry Verweij said on Sunday.

He also suggested stronger trade diplomacy to have GSP facility in the EU market for a longer time.

He made the recommendations during a courtesy visit to Dhaka Chamber of Commerce & Industry (DCCI). During his visit, Verweij had a wide range of discussion with Rizwan Rahman, president of DCCI at DCCI office at Motijheel in Dhaka.

During the discussion, Rizwan Rahman said the bilateral trade between Bangladesh and Netherlands in FY2019-20 was $1.23 billion out of which Bangladesh's export and import were $1.09 billion and $138.33 million respectively.

He said fisheries, jute and shipbuilding are the prospective sector for Dutch entrepreneurs to invest in Bangladesh. Due to Covid-19 the both-way trade reduced by 14.07% in FY2019-20 compared to FY2018-19.

He also said Netherlands is the 3rd largest FDI provider in Bangladesh.

DCCI president urged Netherlands to invest in urban water supply, sanitation, waste management and drainage systems of major cities of Bangladesh under public private model.

Netherlands can import more apparel products from Bangladesh as the country has the highest number of LEED-certified factories in RMG sector. Bangladesh manufactures about 282 diversified jute products and Dutch importers can import more jute products as well, he added.

In response to the DCCI president's call, the Netherlands ambassador to Bangladesh said, agriculture, poultry, dairy, maritime, dredging, Fintech sector are very potential for Dutch investors.

He also said to achieve the delta plan government needs to work with the private sector. Bangladesh's large youth population can change the economic ecosystem, he added.