Online Desk: The Dhaka Chamber of Commerce and Industry (DCCI) and Makkah Chamber of Commerce (MCC) agreed to cooperate with each other to foster bilateral trade between Bangladesh and Saudi Arabia for the mutual benefit of the two countries.

The development came during a business meeting between DCCI and MCC held on Wednesday, (01 November) at the Makkah Chamber headquarters in Saudi Arabia.

The visiting business delegation from DCCI also took part in the business-to-business (B2B) match-making session.

During the meeting, Md. Sameer Sattar said that Bangladesh was providing the most competitive and impressive investment regime in South Asia, featuring wide-ranging fiscal and non-fiscal benefits, and that the country had a conducive regulatory ambience for foreign investment.

He also said that a strong and win-win business partnership between the investors of both countries would take existing trade to new heights.

“Both Bangladesh and Saudi Arabia can explore a mutually beneficial economic synergy to cooperate with each other in achieving the transformational development vision,” he stated.

He said that Saudi Arabian businesses could explore investment in Bangladesh to leverage cost-efficient export potential and facilitate re-export to the global market, considering the strategic geographic connectivity in Bangladesh.

Member of the Board of MCC, Abdullah Gadi, said the progress witnessed in bilateral relations was model of ideal international relationship.

He also invited the businesses to participate in the development and expansion plans that are taking place in Makkah, as work is being done within an integrated system to develop the Holy Capital, which is considered a great opportunity for companies from sisterly and friendly countries to participate in it in accordance with a system of laws and regulations that stimulate investment.

A Memorandum of Understanding (MoU) between DCCI and MCC was signed at the function.

Acting Secretary General of MCC Engr. Essmat Matoog and DCCI President Barrister Md. Sameer Sattar signed the MoU on behalf of their respective organisations.

DCCI Senior Vice President Golam Faruk Alamgir (Arman), Vice President Md. Junaed Ibna Ali and members of the delegation were also present on the occasion.