Mexico keen to expand trade with Bangladesh

Latin American country Mexico wants to expand trade relations with Bangladesh as both the countries have great potential in the automobile, pharmaceutical, chemical, and fintech sectors.

Federico Salas Lotfe, ambassador of the Embassy of Mexico in New Delhi, India, made a courtesy call on Mostofa Azad Chowdhury Babu, senior vice president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Monday at Motijheel, Dhaka.

During the meeting, the Mexican ambassador said, "Economic relations between Bangladesh and Mexico are still small. Both sides would benefit from exploring and diversifying trade.

"Mexico is one of the major suppliers of the global automobile market. We are interested in exchanging Mexico's experience and transfer technology to build the capacity of Bangladesh in automobile manufacturing. I think it would be a good initiative."

Federico Salas Lotfe also urged Bangladeshi entrepreneurs to establish businesses in Mexico.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu informed the Mexican delegation about the Bangladesh Business Summit, scheduled to be held in March this year on the occasion of the 50th founding anniversary of the country's apex trade body FBCCI. He said the organisation is expecting active participation from the Mexican side.

Mostofa Azad Chowdhury Babu said, "Several plenary sessions will be held during the three-day business summit, where trade and investment potentials in Bangladesh will be discussed. CEOs from international companies, business leaders, analysts, and top officials of different countries and organisations are going to attend the mega event."

Mostofa Azad Chowdhury also said the FBCCI will provide all kinds of support to Mexican businessmen in expanding trade and investment in Bangladesh.

FBCCI Director Syed Sadat Almas Kabir, SM Shafiuzzaman, Abu Hossain Bhuiyan Ranu, Secretary General Mohammad Mahfuzul Hoque, and other members of the delegation were also present at the meeting.

Meanwhile, a special delegation of the senior officials of the MUFG Bank, a popular Japanese bank and one of the largest banks in the world, paid a courtesy call on the FBCCI business leaders at the organisation's office on Monday.

The delegation of MUFG Bank was led by its Managing Director and Head of FI (South Asia) Gaurav Bhagat. The bank authorities have expressed interest in doing more work in Bangladesh in the coming days.

Aside from highlighting the potential sectors of Bangladesh, the FBCCI leaders highlighted the importance of foreign investment for the country. The FBCCI urged the MUFG bank authority to open a branch in Dhaka.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President Md Amin Helaly, FBCCI Directors Syed Moazzem Hossain, Shomi Kaiser, Dr Nadia Binte Amin, Syed Sadat Almas Kabir, Abul Kasem Khan, Abu Hossain Bhuiya Ranu, and Bangladesh Reconditioned Vehicles Importers and Dealers Association Secretary General Mohammed Shahidul Islam were also present at the meeting.