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Bangladesh-Vietnam Chamber of Commerce and Industry makes debut

Bangladesh-Vietnam Chamber of Commerce and Industry makes debut

The launch was held in the framework of a Vietnam-Bangladesh trade promotion seminar, organised by the Vietnam Embassy in Bangladesh. The event gathered officials from the Bangladesh Parliament, representatives from the Federation of Bangladesh Chambers of Commerce and Industry, the Vietnam Embassy in Bangladesh and over 100 delegates from the two sides’ business community.

Speaking at the event, Vietnamese Ambassador Tran Van Khoa emphasised that businesses from Vietnam and Bangladesh need to capitalise on the current large-scale potential for economic and trade cooperation, striving to increase bilateral trade to US$1 billion in the future as the target set by leaders from the two sides in 2015.

He expressed the embassy’s willingness in assisting BVCCI in its forthcoming activities to further strengthen the traditional friendship between the two countries. This is the first time an organisation set up by Bangladeshi enterprises has been established to promote trade and business relations with Vietnam. At the same time, the launch of BVCCI also poses an urgent requirement for the early establishment of the Vietnam-Bangladesh Chamber of Commerce and Industry to create favourable conditions for businesses in both countries.

Abdul Matlub Ahmad, President of the Federation of Bangladesh Chambers of Commerce and Industry, stressed that the launch was an important event for businesses of the two nations, as BVCCI would be the bridge to quickly bring Vietnamese and Bangladeshi businesses to each other’s markets and support them in penetrating those markets.

At the seminar, the Vietnamese Embassy provided information about Vietnam and introduced opportunities and orientations for attracting foreign investment into the nation for Bangladeshi businesses.

Bangladesh’s businesses expressed their hope that Vietnamese companies would increase their imports of pharmaceuticals, rice bran oil for animal feed, jute fiber, shrimps and leather products from Bangladesh. These are key export items of the South Asian country but have not drawn much interest from Vietnamese enterprises or the Southeast Asian nation’s enterprises and are not directly imported from Bangladesh but from India and China, causing higher import costs.

To address these shortcomings, the Vietnamese embassy said that it is coordinating with relevant ministries and branches in Vietnam to facilitate Bangladesh’s exports, while expressing its wish that BVCCI have specific strategies to promote these products to Vietnamese consumers.

On this occasion, a delegation of Vietnamese enterprises in various fields, such as advertising design, IT, finance-banking, and fertiliser, worked with Bangladesh partners, in which they highly valued the potential of the Bangladeshi market and said that they are working with market research firms from the US to work out specific strategies to quickly tap into this market.