Prime Minister Sheikh Hasina on Friday said Bangladesh is encouraging it's investors to set up fertilizer factories in Uzbekistan under joint ventures. She said this when Uzbek Deputy Prime Minister for Investment and Foreign Economic Relations Jamshid Abdurakhimovich Khodjaev paid a courtesy call on her at PM’s official residence Ganobhaban here. In a media briefing PM's Press Secretary Ihsanul Karim said the premier put emphasis on developing direct connectivity with Uzbekistan. She said both Bangladesh and Uzbekistan should work together to explore many areas for the mutual benefits of the two countries. Hasina said Bangladesh is setting up 100 economic zones across the country to utilise the young and vibrant manpower. She said Bangladesh attaches importance to the relationship with Uzbekistan. Recalling the visit of Father of the Nation Bangabandhu Sheikh Mujibur to Tashkent, Uzbekistan in 1973, she said the trip had laid the foundation of the bilateral relations between the two countries which has got strengthened over the years. She said Bangladesh is emphasising on the development of ago-processing industries to meet the growing demand of local markets and export those to the international markets. About the Russia-Ukraine war, the PM said it is causing problems for all the countries and the people are suffering for it.  She said Bangladesh has started taking precautionary measures amid the global crisis. The Uzbek Deputy Prime Minister put emphasis on strengthening further his country’s long-term friendship and cooperation with Bangladesh. Read: PM: Useless Ukraine-Russia war benefitting only arms producers "Bangladesh is a potential partner of Uzbekistan and we want to transform it to a strategic partnership," he was quoted as telling the Bangladesh PM. He said his country is keen to enhance economic cooperation with Bangladesh. Jamshid Abdurakhimovich Khodjaev, also the Investment and Foreign Trade Minister, said Uzbekistan is a good hub of CIS (Commonwealth Independent States) countries as there is a lot of potentials for developing business here. He sought cooperation with Bangladesh in the pharmaceuticals and ICT sectors. The visiting Uzbek Deputy Prime Minister highly appreciated Bangladesh's economic advancement, growing per capita income and development of agriculture sector. He said they hope to set up Uzbekistan embassy in Dhaka. In this regard, the Bangladesh PM assured him of all support and cooperation. Jamshid Abdurakhimovich Khodjaev conveyed the greetings of Uzbek President Shavkat Mirziyoyev to Sheikh Hasina. Hasina also conveyed her regards to Uzbek President Shavkat Mirziyoyev and invited him to visit Bangladesh at his conveniences.  During the meeting, both sides have agreed to work on for avoidance of double taxation. Uzbek Deputy Minister for Investment and Foreign Affairs Laziz Kudratov and Uzbek Deputy Minister for Civil Aviation Jasurbek Choriev,  Bangladesh PM's Press Secretary Ihsanul Karim and Bangladesh ambassador to Uzbekistan Jahangir Alam were present.

Speakers at a webinar on Saturday said Bangladeshi entrepreneurs can invest in manufacturing and agricultural sectors of some countries in African continent under African Growth and Opportunity Act (AGOA) to expand export to the US market. They said Africa is a big continent with huge investment opportunities even though the trade share of Bangladesh is remarkably very low for lack of PTA/FTA, tariff and non-tariff barriers and infrastructure. The speakers came up with the remarks in the webinar titled “Trade & Investment Cooperation of Africa and Bangladesh: Towards a new Trajectory” held on the fifth day of Bangladesh Trade and Investment Summit 2021. “Private sector needs to be aggressive to invest both at home and abroad. Food processing and agriculture have good prospects there. We’ve to grab the market,`` Planning Minister MA Mannan told the webinar. As Bangladeshi entrepreneurs entered the African market, he suggested that they can invest more in that region with a plan. DCCI President Rizwan Rahman in his presentation said the bilateral trade is about $1.5 billion between Bangladesh and Africa having a positive trade balance for Bangladesh. “Our export to Africa accounts for 1.02 per cent of Bangladesh’s our total export.” Read: Bangladeshi investors keen to invest in South Africa: FM Though African investment is declining in Bangladesh, Bangladeshi investment in Africa is on the gradual rise, he added. The African investment in Bangladesh was recorded only $306 million. AHM Ahsan, Vice Chairman and CEO, Export Promotion Bureau (EPB), said African trade with the rest of the world in 2020 was $888 billion accounting for only 3 per cent of total global trade. Last year, the intra-African trade volume of $133 billion was heavily influenced by African Growth and Opportunity Act (AGOA) and Common Market for Eastern and Southern Africa (COMESA), he said. “Our trade with Africa is significantly low compared to other regions. Bangladesh exports to only 5-6 countries of Africa. Their high import tariff is an obstacle to export increase. But the service sector is a potential sector for investment,” he added. Md Tarikul Islam, DG Africa Wing, Ministry of Foreign Affairs, said Africa is a resourceful country having enormous potentials. “African investment in Bangladesh is not remarkable due to their restrictions over foreign investment. But textiles, pharmaceuticals, footwear, RMG, leather, paper and pulp, ship breaking and agriculture are some of the sectors they can invest in. The visa process for African investors will be eased,” he said. Abdus Samad Al Azad, Joint Secretary, Ministry of Commerce, Muhammad Zahangir Alam, Director, Square Pharmaceuticals and M Mosaddek Hossain, Managing Director, UniMed UniHealth Pharmaceuticals, among others, spoke at the webinar.