Bangladesh, Argentina eye deeper trade ties through joint ventures

There is immense potential in Bangladesh, and both Argentina and Bangladesh must actively explore avenues for joint ventures particularly in energy, agribusiness, medical technology, and the cotton trade, said Marcelo Carlos Cesa, ambassador of Argentina to Bangladesh.

The ambassador made these remarks during a visit to the International Chamber of Commerce – Bangladesh (ICCB), the world business organisation, at its headquarters in the capital today, as stated in a press release.

Ambassador Cesa called for enhanced bilateral cooperation through targeted delegations from both business and government sectors.

He stressed the importance of a structured and sustained engagement between the two nations to identify new opportunities in trade, investment, and sectoral collaboration.

"Since the reopening of our embassy in Dhaka in 2023, we have observed tremendous potential in Bangladesh," the ambassador noted.

"A high-level exchange of delegations could facilitate the exploration of specific areas for cooperation, particularly in export-import and foreign direct investment."

The meeting was chaired by ICCB President Mahbubur Rahman, who emphasised Argentina's increasing importance within Bangladesh's strategy for trade diversification.

He also recalled the 2019 visit of Luis Miguel Etchevehere, then Secretary for Agroindustry of Argentina, which laid the groundwork for future collaboration in agriculture and agro-processing.

AK Azad, vice-president of ICCB; Abdul Hai Sarker and Kutubuddin Ahmed, executive board members, MA Jabbar, managing director of DBL Group, and Ataur Rahman, secretary general of ICCB; also addressed the meeting.

They welcomed the ambassador's initiative and echoed the call for strengthening business-to-business and institution-to-institution linkages between the two countries.

According to the latest data, bilateral trade between Bangladesh and Argentina reached $765 million in 2022. Key Argentine exports to Bangladesh include soybeans, corn, wheat, and cotton, while Bangladesh's primary exports to Argentina comprise garments and pharmaceuticals.

Maximiliano Romanello, minister counsellor of the Embassy of Argentina, Ajay Bihari Saha, general manager of ICCB; and Syeda Shahnewaz Lotika, deputy general manager, among others, were also present.