Bangladesh, Malaga chambers eye wider trade, investment ties

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Malaga Chamber of Commerce and Industry have expressed interest in working jointly to expand bilateral trade and investment between Bangladesh and Malaga, particularly in emerging and promising sectors.

The two sides made the commitment at a meeting held in Malaga on Friday between an FBCCI business delegation and representatives of the Malaga Chamber of Commerce and Industry to explore ways to deepen business and economic cooperation, said a press release.

Malaga Chamber Vice President Paloma Moreno Marin led the chamber delegation.

Malaga is a major port city in Andalusia in southern Spain.

At the meeting, FBCCI Administrator Md Fazlul Hoque said around 97% of products currently imported from Bangladesh by businesses in the Malaga region are readymade garments.

He urged Malaga businesses to diversify their imports from Bangladesh beyond RMG and explore quality products from sectors including pharmaceuticals, ceramics, jute goods, leather products and other globally competitive Bangladeshi products.

The FBCCI administrator also invited Malaga-based businessmen and entrepreneurs to visit Bangladesh and explore investment opportunities in emerging sectors.

In response, Paloma Moreno Marin highlighted Malaga's technological capabilities and invited Bangladeshi businesses to explore opportunities to import technology products and services from Malaga and invest in relevant sectors.

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The FBCCI delegation expressed interest in benefiting from the experience and facilities of Malaga's renowned technology park.

The two sides also agreed to work towards signing a memorandum of understanding (MoU) between FBCCI and the Malaga Chamber to facilitate technology cooperation, agricultural development, investment promotion and stronger institutional and business-to-business ties.

Bangladesh Ambassador to Spain Md Masudur Rahman, FBCCI Secretary General Md Alamgir, First Vice President of the Official Chamber of Commerce, Industry, Services and Navigation of Malaga Esther Martinez Reyes, members of the visiting FBCCI business delegation and representatives of the Malaga Chamber attended the meeting.