Iran, Bangladesh stress dependence on joint investment

The Bangladeshi envoy voiced his country’s readiness for joint investment with Iran and said, “Given the current situation, we should take smart and innovative steps to build up relations between your two countries. In this regard, furthermore to investment and undertaking joint projects, barter trade could be a good solution”, ICCIMA news portal reported.

The ambassador also stressed the value of investment and joint activities between your private sectors of the two countries and said: “By joint investment, you can focus on new products and gain new markets, it will also have a combined effect and lead to the transfer of technology and knowledge.”

Shafeie for his part mentioned the D-8 Summit, which was scheduled to be held in Dhaka this season but became postponed as a result of coronavirus outbreak, and said that summit will be an opportunity to negotiate with member states and develop Iran's relations with these countries.

Expressing dissatisfaction with both countries’ current level of trade, Shafeie said: “There will always be good grounds and capacities for cooperation between Iran and Bangladesh which may have been neglected up to now. In this regard, we are able to use barter trade to solve the challenge of banking transactions.”

There are many commodities produced in the two countries which can be exported to meet the needs of the other side; for example, rice, tea, and hemp stated in Bangladesh are of better quality than other countries in the region and have an excellent market in Iran. The products could be bartered with Iranian products consumed in Bangladesh, ICCIMA head said.

The official also criticized the seven-year delay in holding both countries’ joint Economic Committee Meeting and said: "I am hoping this meeting will be held again and will be the beginning of expanding relations between the two countries."

He further referred to the preferential trade agreement concluded between your two countries and approved by the Iranian parliament, and expressed hope that it might be implemented immediately.