Hungarian businessmen and investors expressed their interest to invest in Bangladesh’s agro-based industry, as well as the pure water management and pharmaceuticals sector, said Hungarian Foreign and Commerce Minister Peter Szijjarto on Thursday.
He also stressed on formation of a joint trade commission (JTC) to explore the opportunities to increase bilateral trade and commerce.
The minister came up with the announcement at a meeting between Commerce Minister Tipu Munshi at the Commerce Ministry in the capital.
“The Hungarian business community and investors want to increase bilateral trade and commerce. They are very keen to invest in Bangladesh’s agro-based industry, pure water management and pharmaceuticals sector,” said Peter Szijjarto.
Bangladesh offers attractive investment opportunities and Hungary wants to take advantage of all these opportunities. A Joint Trade Commission (JTC) can be formed to tap the opportunities, he added.
In response to the Hungarian Minister, Commerce Minister Tipu Munshi said a joint trade commission between the two countries will indeed make it easier to identify trade and investment opportunities.
Bangladesh will send an official proposal to form a joint trade commission by next week, he informed.
"We will welcome Hungarian investment in agro-food processing, pure water management and pharmaceutical sectors. Besides, there are a lot of opportunities to invest in the ICT and service sectors," said Tipu.
Bangladesh is a country of 17 crore people, with a huge domestic market. Under the direction of Prime Minister Sheikh Hasina, we are establishing 100 Special Economic Zones (SEZs) and making investment here. The Hungarian investors could be benefited, said the minister.
Bangladesh has turned into a destination for investors as it offers attractive packages to foreign investors. As a result, Japan, India, China, Korea and other countries have come forward to invest in the country, he added.
According to Export Promotion Bureau (EPB) data, Bangladesh exported goods worth $19 million to Hungary in the fiscal year 2019-20, while during July-March period the last fiscal year it imported products of $11.51 million.
