Commerce Minister Tipu Munshi on Sunday expressed optimism that a Preferential Trade Agreement (PTA) will be executed very soon between Bangladesh and Indonesia.
He expressed this hope during a courtesy meeting with Indonesian Ambassador Heru Hartanto Subolo at his office in the Ministry.
The Indonesian ambassador also agreed to make progress towards the conclusion of the agreement.
Tipu Munshi said that a bilateral preferential trade agreement with Indonesia is under process. The two countries have formed a 'Trade Negotiations Committee' to implement this agreement and they have already held three meetings so far.
“The fourth meeting will be held in Indonesia next month. This round is likely to conclude the negotiations,” Munshi said.
Emphasizing on further expansion and acceleration of trade and investment opportunities by the business communities of the two countries, Munshi suggested more frequent contacts between the business communities of the two countries so that they can identify promising sectors and create investment opportunities.
At this time, he called for maintaining balance in bilateral trade by allowing the entry of Bangladeshi products, especially RMG, pharmaceuticals, leather products, into the Indonesian market.
Referring to the immense potential of investment in Bangladesh, Ambassador Heru Hartanto Subolor said that Indonesian businessmen are willing to establish a Palm oil refinery station in Bangladesh.
High officials of the Commerce Ministry were present at the meeting.