The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) is going to establish the UAE and Bangladesh Joint Business Council in Dubai to tap the business and investment potential in the Middle East, Africa and Europe.

The business council will be inaugurated during the visit of Prime Minister Sheikh Hasina to Dubai next month.

At the inaugural ceremony, the FBCCI will highlight Bangladesh’s sector-based investment and export prospects, said a press release.

A preparatory meeting held at FBCCI on Saturday disclosed this information.

FBCCI President Md Jashim Uddin said, ”The establishment of the Business Council with the Federation of UAE Chambers of Commerce and Industry would make it easier to capture the export market of the Middle East and Africa’.

Jashim Uddin thinks that this initiative of FBCCI will create an opportunity to explore new market for Bangladesh in the post-LDC period.

Naser Ezaz Bijoy, president of the Foreign Investors Chamber of Commerce and Industry, recommended that five sectors should be included in the FBCCI’s presentation at the opening ceremony of the council.

The sectors include agricultural and halal food products, light engineering especially car parts, financial sector, petrochemical and port management.

Syed Muntasir Mamun, director general of the International Trade and Investment wing of the foreign affairs ministry, recommended seeking UAE investment in ICT, ITES, artificial intelligence, private equity, aviation, shipping and value-added agro services.

On the other hand, FBCCI Director Abul Kasem Khan highlighted the potential for investment in the tourism hospitality sector and in the private port sector.

He also demanded that Bangladeshis be given the opportunity to invest in Dubai.

Research director of the Centre for Policy Dialogue and panel adviser of the FBCCI Khandaker Golam Moazzem said the UAE is currently looking for a global strategic partner for development.

As part of that, the country has recently signed a free trade agreement with India. Bangladesh should also sign an FTA with the UAE, he added.

Sheikh Siraj, head of news of the Channel I and FBCCI’s panel adviser, said there is a huge demand for Bangladeshi vegetables and seeds in the UAE.To take advantage of this potential, joint initiatives can be taken in the field of nursery and food processing.

He said the two countries should also work together to create skilled manpower and achieve halal food certificates.

Among others, FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President Md. Habib Ullah Dawn, M.A. Razzak Khan Raj, Director Syed Almas Kabir and Dr. Nadia Binte Amin, DCCI President Rizwan Rahman, BPGMEA President Shamim Ahmed and Secretary General of FBCCI Mohammad Mahfuzul Hoque were also present at the meeting.