Turkey keen to invest in BD's renewable energy

Turkey has expressed a strong interest in investing across various sectors in Bangladesh, including renewable energy, automobile manufacturing, pharmaceuticals, information and communication technology (ICT), logistics, and construction. This announcement came during a meeting between Turkish Trade Minister Prof. Dr. Omer Bolat and Bangladesh's Commerce Adviser Sk. Bashir Uddin at the Ministry of Commerce in Dhaka.

The discussion covered a wide range of bilateral issues, such as increasing trade volume, Turkish investment opportunities in Bangladesh, the certification of halal food products, and the establishment of an Economic Commission.

Commerce Adviser Sk. Bashir Uddin emphasized the historical ties between Bangladesh and Turkey, which have spanned business, education, and cultural cooperation. He highlighted the importance of boosting trade and investment between the two nations.

Referring to Turkey as one of the leading exporters of halal food globally, Bashir Uddin urged Turkey's support in expanding Bangladesh’s halal food market. He emphasized the importance of acquiring internationally recognized halal certifications to enhance the country's export potential. He proposed a memorandum of understanding (MoU) between Turkey's Halal Accreditation Authority and the Bangladesh Standards and Testing Institution to streamline the halal certification process.

Bashir Uddin also noted that expanding halal food exports would contribute significantly to strengthening Bangladesh’s economy. He further remarked on Bangladesh’s favorable investment climate, offering numerous incentives for foreign investments.

The commerce adviser outlined several sectors with vast investment potential in Bangladesh, such as renewable energy, telecommunications, information technology, pharmaceuticals, light engineering, services, construction, and ready-made garments. He called for greater Turkish investment in Bangladesh’s Special Economic Zones (SEZs).

On the Turkish side, Minister Omer Bolat acknowledged that Bangladesh’s trade with Turkey is currently concentrated on the textile industry, with Turkey exporting machinery and chemicals and importing ready-made garments. However, Bolat expressed Turkey's desire to diversify bilateral trade beyond textiles, tapping into other sectors like renewable energy and pharmaceuticals.

Present at the meeting were Turkish State Minister for Trade Mustafa Tuzcu and Md. Abdur Rahim Khan, Secretary (Routine Responsibilities) of the Ministry of Commerce in Bangladesh. The discussions set the stage for stronger economic ties between the two nations, particularly in emerging industries like renewable energy and technology.