President of Dhaka Chamber of Commerce and Industry (DCCI) Barrister Sameer Sattar is going to lead a business delegation of Bangladesh to Saudi Arabia from October 29 to November 2, 2023.
The DCCI will visit the country in line with the national priority of need-based economic diplomacy of the government.
With this target in mind and export market diversification, the DCCI is leading the largest-ever business delegation to Saudi Arabia, the DCCI said in a statement on Thursday.
The DCCI said that the five decade-long diplomatic relationship between the Kingdom of Saudi Arabia (KSA) and Bangladesh has reached a new stature featured by evolving and trusted economic ties. The economic relation has ascended to unprecedented heights encompassing a substantial trade of nearly $2 billion - with increasing trade and investment cooperation in diverse sectors.
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Saudi Arabia has set its transformational “Saudi Vision 2030” initiative for new and advanced Saudi Arabia while Bangladesh also envisions graduating into an Upper Middle-income country by 2031 followed by a knowledge-based and smart developed economy by 2041.
The DCCI statement also said these common transformational economic visions paved the scope for unfolding excellent synergy to yield manifold benefits and premiums for both nations.
Foreseeing the remarkable potential, the two countries aim to augment bilateral trade to $6 billion from the current level exploring rewarding and safe investment both in conventional and unconventional sectors such as medical equipment, FMCG, heavy machinery, automobile, smart farming, halal products, fin-tech, logistics, infrastructure development, SEZs, EPZs and hi-tech parks.
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With this aspiration and economic priorities into account, the President of DCCI, Sameer Sattar is leading a 61-member diversified business delegation enshrining top-notch business leaders representing major sectors of Bangladesh including Agro and food-processing, tourism, real estate, and construction, healthcare, skills and education, Information technology, Logistics, Textiles, and other manufacturing industries.
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During this trip, the DCCI anticipates high-level discussion and B2B sessions with key and prominent trade bodies in the KSA including the Riyadh Chamber, Makkah Chamber, and Madinah Chamber to confer the bilateral economic agenda towards win-win and mutually beneficial economic relations.