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Mexico to expand trade with Bangladesh

Mexico, the Latin American country wants to expand trade relations with Bangladesh, as they are seeing great potential in the Automobile, Pharmaceutical, Chemical, and FinTech sectors.

Federico Salas Lotfe, Ambassador of the Embassy of Mexico in New Delhi, India made a courtesy meeting with Mostofa Azad Chowdhury Babu, Senior Vice President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on 30 January.

Mexico to expand trade with Bangladesh
Figure: Mexico to expand trade with Bangladesh.

During the meeting, the Mexican Ambassador said, “Economic relations between Bangladesh and Mexico are still small. By exploring and diversifying trade both sides would be benefited. The Automobile, Pharmaceutical, Chemical, and FinTech sectors have huge potential.”

And Federico Salas Lotfe said, “Mexico is one of the major suppliers of the global automobile market. We are interested in exchanging Mexico’s experience and transfer technology to build the capacity of Bangladesh in automobile manufacturing. I think it would be a good initiative. Bangladeshi entrepreneurs also establish businesses in Mexico.”

The Senior Vice President of FBCCI, Mostofa Azad Chowdhury Babu, briefed the team from Mexico on the Bangladesh Business Summit that would be held in March of this year to commemorate FBCCI’s 50th founding anniversary. He said that the FBCCI anticipates active involvement from the Mexican side.

He said, “Several plenary sessions will be held during the three-day Business Summit. While trade and investment potentialities in Bangladesh will be discussed. CEOs from international companies, business leaders, analysts, and top officials of different countries and organizations are going to present the mega event.”

Besides he requested to active participation of Mexican officials and the business community in the event.

Mostofa Azad Chowdhury also said that FBCCI will provide all kinds of support to Mexican businessmen in expanding trade and investment in Bangladesh.

FBCCI Director Syed Sadat Almas Kabir, S. M. Shafiuzzaman, Abu Hossain Bhuiyan Ranu, Secretary General Mohammad Mahfuzul Hoque, and other members of the delegation were also present at the meeting.

At the FBCCI office in the afternoon, a special delegation of senior executives from the Mitsubishi UFG Financial Group, or MUFG Bank, a well-known Japanese bank and one of the biggest banks in the world, paid a courtesy visit.

Gaurav Bhagat, the bank’s managing director and head of FI (South Asia), served as the delegation’s leader. In the upcoming days, the bank’s officials have indicated a desire to operate more in Bangladesh.

Besides highlighting the potential sectors of Bangladesh, the FBCCI leaders highlighted the importance of foreign investment for the country, and urged the MUFG bank authority to open a branch in Dhaka.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu; Vice President Md. Amin Helaly, FBCCI Director Syed Moazzem Hossain; Shomi Kaiser, Dr. Nadia Binte Amin, Syed Sadat Almas Kabir; Abul Kasem Khan, Abu Hossain Bhuiya Ranu, BARVIDA Secretary General Mohammed Shahidul Islam were also present at the meeting.

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