Formation of Joint Business Council to boost Bangladesh-Qatar trade

Bangladesh and Qatar have established the Joint Business Council (JBC) to further strengthen commercial and economic relations between Bangladesh and Qatar as well as increase business cooperation.

The Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) and Qatar Chamber of Commerce and Industry (QCCI), the top trade organization of the country, signed the agreement in this regard at the Prime Minister’s office on Tuesday.

Prime Minister Sheikh Hasina and Emir of Qatar Sheikh Tamim bin Hamad Al Thani were present there.

FBCCI President Mahbubul Alam and QCCI Chairman Sheikh Khalifa bin Jassim Al Thani signed the agreement on behalf of their respective institutions.

The agreement was signed to strengthen trade between the business communities of the two countries to increase trade and economic cooperation between Bangladesh and Qatar.

In this context, FBCCI President Mahbubul Alam said, ‘The establishment of JBC between Bangladesh and Qatar has opened a new possibility for the businessmen of the two countries. Under this agreement Qatari businessmen will benefit as well as it will be easier for Bangladeshi businessmen to capture Qatar’s export market and it will be easier to import essential products including fuel from Qatar.

At the same time, he also commented that Qatari investors will be encouraged to invest in Bangladesh through JBC.

According to the agreement executed between FBCCI and QBCCI, the Joint Business Council will become a platform for businessmen and industrialists of Bangladesh and Qatar to strengthen trade activities in trade, investment, technology transfer, services and other industrial sectors.

Both FBCCI and QCCI will benefit from the exchange of information on trade, economic cooperation and services between the two countries. Besides, JBC will conduct other activities including exchange of business information between the two countries, submission of recommendations to the respective governments, encouraging participation in exhibitions.

Besides, both sides can organize joint meetings to discuss issues related to trade development and economic cooperation. FBCCI and QCCI may form sub-committees and task forces as per the agreement.