Bangladesh companies seek to tap into Saudi market with Riyadh expo

Bangladesh’s trade portfolio is dominated by the garment sector. (Getty Images)
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Updated 21 February 2023
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Bangladesh companies seek to tap into Saudi market with Riyadh expo

  • 30 firms taking part in 3-day event this week
  • Dhaka has been aiming to boost presence in Saudi market since last year

DHAKA: Bangladeshi companies are set to showcase their products at a three-day expo in Riyadh starting from Wednesday as they hope to boost exports to the Saudi market.

A private sector delegation of 30 companies, including from Bangladesh’s garment and pharmaceutical sectors, will be in the Saudi capital from Feb. 22-24 to take part in the 2023 Bangladesh Products Exhibition.

Bangladesh has been working to tap into the Saudi market since last year as the South Asian country aims to increase its presence in the Middle East. In October, the Export Promotion Bureau under the Bangladeshi Ministry of Commerce held a trade and investment fair in Riyadh.

“Our target is to explore export potentials for ‘Made in Bangladesh’ goods in the Saudi market,” Khandaker Redwanur Rashid, managing director of expo organizer Only Entertainment, told Arab News.

This week’s event in Riyadh is organized by the private sector with government support. Bangladesh Commerce Minister Tipu Munshi is scheduled to inaugurate the expo on Wednesday.

“We have planned to introduce our manufacturers with Saudi buyers through this expo,” he said.

“The manufacturers will have the opportunities to hold B2B meetings and boost their exports in the Kingdom.”

Dhaka currently has an insignificant stake in the Saudi market, with Bangladeshi exports to the Kingdom worth about $300 million in 2021.

The country’s trade portfolio is dominated by the garment sector — the top industry in Bangladesh, employing more than 4 million people, contributing over 11 percent of the country’s gross domestic product and accounting for 80 percent of exports.

More than a dozen garment manufacturers are taking part in the Riyadh expo this week.

“There are huge opportunities in the Saudi market,” Zahid Hassan, managing director of Zain Apparels and a standing committee chairman of the Bangladesh Garment Manufacturers and Exporters Association, told Arab News.

“In recent times, European countries have been witnessing financial hardships. On the other hand, Gulf countries are booming in terms of their economies. If we can showcase our products properly to buyers in the Kingdom, it will yield many orders from this expo,” Hassan said.

The success of the event in Riyadh might lead to similar expos in other Middle Eastern countries, including Jordan and the UAE, he added.

The Saudi market’s potential is also attractive to Bangladesh’s pharmaceutical industry.

“Currently, we don’t have any presence in the Saudi market,” Abu Musa of leading pharmaceutical company Square Pharmaceutical told Arab News.

Musa, who is a senior manager at Square’s international marketing department, said his company is hoping to meet all the regulatory requirements required by the Kingdom but will first focus on engaging potential buyers.

“We are participating in the expo aiming to explore the market and find new suitable buyers from the Kingdom,” Musa added.


Hundreds march in silence to honor victims of Swiss bar fire that left 40 dead

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Hundreds march in silence to honor victims of Swiss bar fire that left 40 dead

CRANS-MONTANA: Hundreds marched in silence Sunday to honor the victims of the New Year’s Eve fire at a bar in the Swiss Alpine resort of Crans-Montana, which left 40 dead and many severely injured.
Somber mourners, many with reddened eyes, filed silently out of the chapel to organ music after the hourlong Mass at the Chapelle Saint-Christophe in Crans-Montana. Some exchanged hugs, others applauded, before joining the silent march up the hill to Le Constellation bar.
Many hundreds of people, some cradling flower bouquets, walked in the dense snaking procession in the bright sunlight past shuttered stores. Up on the mountain overlooking the town, snow machines sent plumes of white flakes into the air.
At the top of the street, in front of Le Constellation that is still largely shielded from view by white screens, the swelling crowd stood in near total silence, some weeping. Then they broke out into sustained applause — hands in gloves and mittens against the cold — as a stream of mourners and well-wishers deposited flower bouquets at a makeshift memorial piled with flowers, cuddly toys and other tributes.
“We are going through a moment of crushing darkness but we are going through it together,” one speaker said.
During the Mass, the Rev. Gilles Cavin spoke of the “terrible uncertainty” for families unsure if their loved ones are among the dead or still alive among the injured. “We pray for their friends hard hit by misery on this day that was meant to be one of festivities and friendship,” he said.
In the crowded pews, a grieving woman listened intently, her hands clasped tightly and sometimes clasping rosary beads, as speakers delivered readings in German, French and Italian.
Forty people died and 119 were injured in the blaze that broke out around 1:30 a.m. on Thursday at Le Constellation bar. Police have said many of the victims were in their teens to mid-20s.
By Sunday morning, Swiss authorities identified 24 out of the 40 fatalities. They include 18 Swiss citizens aged 14 to 31 years, two Italians 16 years old, one dual citizen of Italy and the United Arab Emirates also 16 years old, an 18-year-old Romanian, a 39-year-old French and a Turkish citizen, 18.
A grieving mother
One of the victims was 16-year old Arthur Brodard, whose mother had been frantically searching for him.
“Our Arthur has now left to party in paradise,” a visibly shaken Laetitia Brodard said in a Facebook story posted on Saturday night, speaking to camera. “We can start our mourning, knowing that he is in peace and in the light.”
Brodard’s frenzied search for her son reflected the desperation of families of the young people disappeared during the fire, who did not know whether their loved ones were dead or in the hospital.
Swiss authorities said the process of identifying victims was particularly hard because of the advanced degree of the burns, requiring the use of DNA samples. Brodard also had given her DNA sample to help in the identification process.
In her Facebook post, Brodard thanked those who “testified their compassion, their love” and to those who shared information as she anxiously searched and waited for news of her son. Other parents and siblings are still waiting in anguish.
Bar managers face a criminal investigation
Swiss authorities have opened a criminal investigation of the bar managers.
The two are suspected of involuntary homicide, involuntary bodily harm and involuntarily causing a fire, the Valais region’s chief prosecutor, Beatrice Pilloud, told reporters Saturday. The announcement of the investigation did not name the managers.
Investigators said Friday they believe sparkling candles atop Champagne bottles ignited the fire when they came too close to the ceiling of the crowded bar.
Authorities planned to look into whether sound-dampening material on the ceiling conformed with regulations and whether the candles were permitted for use in the bar. Officials said they also would look at other safety measures on the premises, including fire extinguishers and escape routes.
Swiss President Guy Parmelin announced a national day of mourning for the victims on Jan. 9.
France’s Health Minister Stéphanie Rist said 17 patients have received care in France, out of a total of 35 transferred from Switzerland to five European countries. Other patients were planned to be transferred to Germany, Italy and Belgium.