Turkey should reduce duties imposed on Bangladeshi export products to increase bilateral ties between the two countries, said Rizwan Rahman, president of Dhaka Chamber of Commerce & Industry (DCCI).
He made the remark during a meeting with Dr Mehmet Mus, the trade minister of Turkey, in the Turkish capital Ankara on 2 October, said a press release.
"Although the bilateral trade between Bangladesh and Turkey is around $900 million, it has not yet reached the desired level. However, it is possible to increase the existing bilateral trade volume to $2 billion by diversifying products and reducing tax and tariff barriers," he said during the meeting.
The DCCI President called on the entrepreneurs of Turkey to further expand the partnership between the public and private sectors of the two countries for the further expansion of bilateral trade and investment.
He also urged them to invest in the 100 special economic zones and 28 hi-tech parks of Bangladesh.
During the meeting, Rizwan Rahman mentioned that there is considerable potential for further growth of bilateral trade through organising B2B match-making, product exhibitions, seminars, discussions and meetings of the joint economic commission of the two countries.
At present, 78.9% of Bangladeshi products exported to Turkey get tariff benefits, which should be increased, the DCCI president said.
He further said that Bangladesh and Turkey can work together to play a more effective role for the functioning of D-8 in the economic sector.
He said that ceramics and ready-made garments products from Bangladesh have to pay 19% and 17% export duties in Turkey and this should be reduced.
Dr Mehmet Mus, trade minister of Turkey, also said that the trade and investment volume between the two countries are not as expected. "We have to work together to further develop bilateral trade."
Mentioning that Bangladesh is an excellent destination for foreign investors, he said that several Turkish companies have already successfully expanded their operations through investment in Bangladesh.
"Such success of Turkish companies will encourage more companies to invest in Bangladesh," the minister said.
Masud Mannan, ambassador of Bangladesh to Turkey, was also present during the meeting.