Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) President Md Jashim Uddin has said that both Bangladesh and Uzbekistan have much to offer to each other in terms of economic collaboration.

The countries can be benefited by exploring their potential sectors, he said this during a discussion meeting with the Uzbekistan delegation led by the Deputy Minister of Foreign Affairs of the Republic of Uzbekistan Bakhrom Aloev.

The meeting was held on Thursday at the FBCCI Icon, Dhaka, said an FBCCI media release signed by its Head of Communications and PR Tanzid Basunia.

Addressing Uzbekistan as an important friend and growth partner, the FBCCI president said both the countries have gained momentum with some high-level visits and discussions on the future of the two country's partnership.

Trade and economic cooperation have been key focuses of Dhaka-Tashkent relations. Both the countries have identified potential sectors for collaboration, including textiles, pharmaceuticals, agriculture, and information technology, he added.

 The business leader mentioned that the bilateral trade is at $35.12 million in FY 2022, which is far below untapped potential.

“I hope through this visit and meeting, we can work together to explore mutually beneficial investment and trade opportunities,” he said.

The FBCCI president also said that Bangladesh serves as the regional gateway of South Asia and ASEAN countries and has very close connectivity with India and China, the two giants of Asia.

The government is developing 100 economic zones, 30 IT parks, and tourism parks with modern infrastructure, he said adding that Uzbekistan can utilise this opportunity to start a business here in Bangladesh, he mentioned.

The FBCCI leader said Bangladesh has competitive strengths in apparel, leather goods, pharmaceuticals, frozen seafood, plastic products, ceramics, jute, and leather products, ICT, FMCG, home appliances and others are leading the way for business diversification.

He opined that the Uzbek can import pharmaceutical products and generic drugs from Bangladesh as we are producing high-quality medicine and drugs and exporting to more than 100 countries in the world.

Uzbek Deputy Minister Bakhrom Aloev said, “Bangladesh and Uzbekistan have many opportunities. It’s time to elaborate on the relationship between the two great countries. Right now, connectivity is one of the issues, but we’re working on it and we are looking forward to strengthening the bilateral trade between the two countries”.

He invited the FBCCI to pay a visit to Uzbekistan and explore the business potential.

FBCCI Vice President Md Amin Helaly said that the interactions with the private sector have helped Bangladesh and Uzbekistan to develop a future trade relationship by encouraging mutual investment and addressing trade barriers for the greater benefit of the two nations.

FBCCI Vice President Md Habib Ullah Dawn, Directors and other business leaders were present at the programme.