Trade between Bangladesh and the UAE has reached $1.2 billion in 2021, recording a growth of more than 15 percent, Bangladesh’s ambassador to the UAE Mohammed Abu Zafar has said.
The ambassador hailed his country’s relations with the UAE as deeply rooted and increasingly developing thanks to the support provided by the leadership of the two friendly countries.
The ambassador’s statements came on the sidelines of a seminar on investment in economic zones organized by the Bangladesh Pavilion at Expo 2020 Dubai on Saturday.
Zafar has said the UAE is the fifth largest investor in Bangladesh with over $2.5 billion of investment.
The UAE is one of the long-standing development partners of Bangladesh with the provision of economic assistance, mostly project loans, he told the local media.
The ambassador said his country eyes the UAE market with the products like readymade garments (RMG), pharmaceuticals, jute products, fabrics, home textile, bicycles, plastic products, processed food and furniture.
He said various indicators demonstrate that the bilateral trade could reach $2 billion by the 50th anniversary of the establishment of diplomatic relations in 2024.