Dhaka: Bangladeshi businesses are seeking closer ties with the UAE on skills development, trade and investments, the Dhaka Chamber of Commerce and Industry said on Sunday after it signed agreements with its Emirati counterparts to strengthen economic cooperation.
The UAE is Bangladesh’s largest trading partner in the Middle East, with their bilateral trade volume valued at around $2 billion in 2024.
The Gulf state — home to about 1.2 million Bangladeshi expats — is also Bangladesh’s fifth-largest foreign investor.
DCCI President Taskeen Ahmed led a 29-member business delegation to the UAE last month, where he signed preliminary agreements with the Dubai Chambers and the Sharjah Chamber of Commerce and Industry to boost trade and investments between their two countries.
Bangladeshi businesses are eyeing cooperation in a number of key areas, including trade and market access, energy and financial sectors, tourism and hospitality, infrastructure and logistics, Ahmed said.
“Closer trade relations between Bangladesh and the UAE present a significant opportunity to strengthen our economic landscape across multiple sectors. I firmly believe that enhanced trade ties with the UAE can be a game-changer for Bangladesh,” he told Arab News.
“The UAE serves as a major gateway to the Middle East, North Africa, and beyond. Expanding our trade partnership will create greater market access for Bangladeshi products.”
The Dhaka Chamber is also seeking stronger collaboration in technology and skills development.
“The UAE is highly advanced in digital infrastructure, logistics, and financial services. Stronger collaboration can facilitate knowledge transfer and capacity-building, helping Bangladeshi industries adopt global best practices, enhance productivity, and become more competitive,” Ahmed added.
Under the newly signed memoranda of understanding, DCCI is set to collaborate with its Emirati counterparts “to promote bilateral trade, investment matchmaking and joint economic discussions,” with activities focused on exchanging trade delegations and strengthening business networking platforms.
“To further boost collaboration, Bangladesh aims to activate the Bangladesh-UAE Business Council, focusing on trade finance, private equity, and expanding Islamic finance,” Ahmed said.
Business leaders from the two countries are also involved in discussions to set up training centers “to improve the skill set of Bangladeshi workers” who are seeking employment in the UAE, while a direct shipping route between Chattogram and Dubai is being discussed to enhance trade efficiency.
“I believe that this mutual cooperation will enhance the value of our national bilateral relations … These initiatives will further deepen the economic and trade relationship between Bangladesh and the UAE following the MoU signing.”
