Turkey Keen to Invest in Renewable Energy and Other Sectors in Bangladesh

DHAKA, Jan 9, 2025  – Turkey has expressed strong interest in investing in several sectors in Bangladesh, including renewable energy, automobile manufacturing, pharmaceuticals, information and communication technology, logistics, and the construction industry.

The announcement came during a meeting between Turkish Trade Minister Prof. Dr. Omer Bolat and Commerce Adviser Sk. Bashir Uddin at the Ministry of Commerce in Dhaka.

Focus on Expanding Bilateral Trade and Investment

During the meeting, both parties discussed a range of bilateral issues, including increasing trade volumes, exploring Turkish investment opportunities in Bangladesh, obtaining halal food certification, and forming an Economic Commission to enhance cooperation.

Commerce Adviser Sk. Bashir Uddin highlighted the strong historical ties between Bangladesh and Turkey in business, education, and culture. He emphasized the importance of encouraging expanded trade and investment between the two nations.

Referring to Turkey as one of the world’s leading halal food exporters, Bashir Uddin sought Turkey’s assistance in developing Bangladesh’s halal food market. He noted that obtaining an internationally recognized halal certification is crucial for expanding exports in this sector.

To this end, he proposed signing a memorandum of understanding between Turkey’s Halal Accreditation Authority and the Bangladesh Standards and Testing Institution to streamline the certification process. “Exporting halal food will significantly strengthen Bangladesh’s economy,” he added.

Opportunities in Renewable Energy and Economic Zones

Bashir Uddin underscored Bangladesh’s excellent investment environment, which includes various facilities and benefits for foreign investors. He pointed out significant opportunities for investment in renewable energy, telecommunications, IT, pharmaceuticals, light engineering, services, construction, and ready-made garments.

He also encouraged Turkish businesses to explore investment opportunities in Bangladesh’s special economic zones.

Turkey’s Perspective on Trade with Bangladesh

Prof. Dr. Omer Bolat acknowledged the current focus of Bangladesh-Turkey trade on the textile sector. Turkey exports machinery and chemicals to Bangladesh and imports ready-made garments from the country.

However, Bolat emphasized Turkey’s desire to diversify bilateral trade beyond textiles, exploring new sectors for mutual growth.

The meeting was attended by Turkish State Minister for Trade Mustafa Tuzcu and Md. Abdur Rahim Khan, Secretary (Routine Responsibilities) of the Ministry of Commerce.

The discussions have set the stage for deeper cooperation between the two nations, with Turkey’s interest in renewable energy and other strategic sectors offering a promising outlook for bilateral relations.(BSS)

Corporatenews24, Jubair/Monir