TEHRAN – Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) has called for implementing preferential trade and double taxation avoidance agreements with Bangladesh in order to boost trade between the two countries.

“In order to increase their trade relations, Iran and Bangladesh should implement preferential trade and double taxation agreements which have been signed for about 20 years, as soon as possible,” Samad Hassanzadeh said.

Hassanzadeh made the remarks in a meeting with Bangladeshi State Minister Ahasanul Islam Titu in Tehran, the ICCIMA reported on Friday.

The official expressed the Iranian private sector’s readiness for partaking and investment in various projects in Bangladesh with the aim of re-exporting.

Referring to the inauguration of Iran’s new president, Hassanzadeh continued: “the two countries should redefine their trade relations with a new plan.”

He further mentioned to the 170 million population of Bangladesh and the country's good market for Iran, saying: “Iran has many capacities in various fields including food production, textile industries, knowledge-based products, medicine and medical equipment, construction materials, information and technology, and export of technical engineering services in which the two countries can cooperate.”

Hassanzadeh stated that the level of trade relations between the two countries has not progressed in line with their good political relations, noting that by holding the joint economic commission of the two countries and exchanging business delegations, it is possible to It increased the level of business relations.

Islam Titu for his part stressed the importance of developing Iran-Bangladesh relations and said: “Bangladesh can be a route to connect Iranian businessmen to the Bay of Bengal and countries like Nepal and ASEAN countries.”

Stating that monetary and payment problems between the two countries have hindered the development of economic relations between Iran and Bangladesh, the official added: “With the follow-up between the governments of the two countries, we very much hope that this problem will be resolved soon and alternative ways will be defined.”

Earlier this week, Islam Titu also held talks with Iranian Industry, Mining and Trade Minister Abbas Aliabadi in which the Iranian side stressed the need to enhance trade and economic cooperation between Iran and Bangladesh using the two countries current capacities.

“The two countries have high capacities and potentials to promote bilateral ties in the fields of trade and economy,” Aliabadi said in the meeting.

As Mehr News Agency reported, in this meeting Aliabadi underlined Iran’s capabilities in various fields including agriculture, foodstuff, tourism, pharmaceutical and medical industries, sports, etc.

He also added that Iran is a top producer of various types of construction materials and equipment in the region and the country can export such materials to Bangladesh as well.

Regarding the economic capacities of Bangladesh, Aliabadi said, “According to the historical documents, Iran has always had deep cultural, scientific and commercial relations with the Indian subcontinent and Bangladesh, and active membership of the two countries in the international forums, the Organization of Islamic Cooperation and the Non-Aligned Movement (NAM) is a solid evidence for this claim.”

The Bangladeshi state minister also introduced Iran as a country with high trade and economic potentials, stating that Bangladesh attaches great importance to its relations with the Islamic Republic of Iran.

In April 2023, late Iranian President Ebrahim Raisi urged the growth of commercial and trade links with Bangladesh while reiterating his administration’s commitment to fostering connections with other Muslim nations.

In a phone conversation with Bangladeshi Prime Minister Sheikh Hasina, Raisi stated that Iran’s foreign policy is built on bolstering ties with all nations, particularly those in the Islamic world.

He also expressed optimism for strong ties between Bangladesh and Iran, particularly for the advancement of economic and commercial cooperation.

Sheikh Hasina, for her part, stressed the need for improving connections with Iran, particularly in the commercial and economic spheres, as well as regional cooperation.

EF/MA

Photo: ICCIMA Head Samad Hassanzadeh (R) meets Bangladeshi State Minister Ahasanul Islam Titu in Tehran of Friday.