President of Dhaka Chamber of Commerce and Industry (DCCI) Ashraf Ahmed has urged Argentina to come forward with investments in the pharmaceutical sector of Bangladesh. On Sunday (November 10), the ambassador of Argentina appointed to Bangladesh, Marcelo Carlos Sessa, made this call in a bilateral discussion meeting.

In the meeting, President of Dhaka Chamber Ashraf Ahmed said that recently the opening of permanent mission of Argentina in Bangladesh has created an opportunity to expand trade and investment between the two countries. In the fiscal year 2022-23, the amount of bilateral trade was 678.78 million US dollars, while the amount of import and export of Bangladesh was 663.34 and 14.55 million US dollars respectively. It is not as expected.

He suggested that Argentinean businessmen take advantage of the incentives provided by the government in Bangladesh through joint investment in medicine and ‘Active Pharmaceutical Ingredient (API)’ industry. The DCCI president called upon the entrepreneurs of Argentina to import more manufactured garments from Bangladesh as well as jute and jute products, leather and leather products, medicine and plastic products.

Marcelo Carlos Sesa, Ambassador of Argentina, said that despite the great potential of bilateral trade and investment, it has not reached the desired level mainly due to the lack of communication between businessmen of the two countries. Argentina can play an important role as a ‘hub’ in Bangladesh’s trade and investment in South American countries.

He mentioned that ‘Marcosar’ economic alliance has been formed with 4 South American countries (Argentina, Brazil, Uruguay, Paraguay), who enjoy duty-free benefits in the import and export of goods between them, he urged Bangladeshi entrepreneurs to come forward to invest in Argentina. call for

He also urged DCCI to send a trade delegation to Argentina, so that Bangladeshi entrepreneurs can explore the market potential of that country. The Ambassador also proposed the Dhaka Chamber to sign a memorandum of understanding with the main chambers and associations of Argentina.

DCCI Senior Vice President Malik Talha Ismail Bari, Vice President Md. Junaid Ibn Ali and Maximiliano Romanello, Deputy Head of Mission of the Argentine Embassy in Bangladesh were present at the time.