Bangladeshi businesses seek tariff reduction in Turkey

Bangladeshi businesses have requested for lowering of tariff on the products they export to Turkey.

President of Dhaka Chamber of Commerce & Industry (DCCI) Rizwan Rahman made the call during a courtesy meet with Turkish Minister for Trade Dr. Mehmut MUS at his ministerial office in Turkish capital Ankara on Sunday.

During the meeting, Rizwan Rahman said that the bilateral trade between Bangladesh and Turkey is around $900 million which is not satisfactory at all. 

The existing bilateral trade can be increased to over $2billion through bringing in more trade diversification. 

He also said that the progress in public-private and business to business (B2B) partnership between the two countries remain low. 

DCCI chief said Turkish investors can consider Bangladesh’s 100 economic zones and 28 high-tech parks as their preferred investment destination.  

He requested the Turkish minister to extend the current duty free quota free tariff line facility to Bangladesh which is now 79.9 percent for trade growth. 

Moreover, Joint Economic Commission meetings should be held regularly to organise effective joint exhibitions and seminars on bilateral economic issues and to address trade issues, Rizwan Rahman emphasised. 

Furthermore, Bangladesh and Türkiye can work and advocate together to form an effective D-8 economic bloc, he said.

He said Bangladeshi ceramic products do not get duty free quota free access to the Turkish market rather 19 percent tariff is imposed on this product. 

Turkey added an extra 17 percent tariff for Bangladesh ready made garment (RMG) products, DCCI chief said.

He requested the Turkish Minister for Trade to ease the tariffs on RMG and ceramic products to help Bangladesh’s export growth.  

Dr. Mehmut MUS agreed that the bilateral trade between these two countries is not up to the expected level. 

He termed Bangladesh as an attractive investment destination and both the countries should work together to enhance this trade volume. 

He said that a few Turkish companies are already doing their businesses in Bangladesh and they are doing very well. 

And this success will be an example for others to invest in Bangladesh, he said.  

Ambassador of Bangladesh in Ankara Mosud Mannan, ndc was also present during the meeting.