The Bangladeshi High Commissioner to Nigeria, Mr. Shameem Ahsan, yesterday disclosed plans to launch a Nigeria-Bangladesh Chamber of Commerce to boost trade between both countries.
Between 2016 and 2017, Bangladesh’s exports to Nigeria stood at $3.5million while imports from Nigeria reached $4.4million.
Items imported to Nigeria include ready-made garments, pharmaceutical products and ceramics, while Nigeria exported mainly agricultural products, especially cashew nut.
Speaking during a courtesy visit to the Media Trust Headquarters in Abuja, the envoy noted that this is inadequate considering the high level of cordial relations between the two countries, saying though there were huge potentials in Bangladesh-Nigeria relations, they remained largely untapped.
“Our trade volume is very insignificant. But given the opportunities that we have, it should be more than that. To foster mutually beneficial relationship, I have started working on launching a Bangladesh-Nigeria Chamber of Commerce. It is very important. I cannot do business but I can facilitate. That’s my job. I should make sure that hurdles are reduced at both ends,” he said.
Ahsan said though there was a growing interest of the Nigerian business community in Bangladesh, the platform would make investors from both sides to understand themselves better.
The High Commission receives an average of 50 business visa applications from Nigerians every month, he said. He, therefore, urged Nigerian investors to explore business opportunities in the country’s economic zones.
“Investors are invited to our economic zones. There is a lot of initiatives by the government to attract foreign investments. Secondly, the cost of production is very low as a result of cheap labour, so investors can make huge profits,” Ahsan added.