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UAE's company wants to assist export promotion |
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September 14, 2000
Dhaka (UNB) - An UAE-based company offered local businessmen its service to promote the country's export trade in the East and the West from a business-cum-service centre in Dubai. Inscope Middle East LLc is setting up the centre aiming to bring the Bangladeshi businessmen and Bangladeshi products into international limelight, a seminar was told here yesterday (Wednesday). The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the company jointly organised the seminar on "Promotion of Exports of Bangladesh to United Arab Emirates" in the FBCCI conference room. Company director Lincoln Lim said the centre's 5,000 square- foot area would occupy small office booths to be available initially for 20 companies at a monthly rental of US$1,200, including display arrangement for products and other logistic supports. In addition, the company will charge one per cent of the total business deals to be made from the centre in the wealthy Gulf state. "We are on way to creating a gateway to the vast and lucrative markets of continental Africa, the CIS countries, Europe and the USA," said Rehan B Khwaja, the project in-charge. He said Dubai is lucrative for export promotion as 3 million people, including buyers, visit Dubai, which is linked to 130 destinations through 86 airlines. "A large number of international and multinational companies have set up their business offices in Dubai, not only to cater the UAE but also the other neighbouring GCC countries, the north African countries and the CIS countries," said Mohammad Shajahan Siddique, Commercial Counsellor of Bangladesh in Dubai. At the same time, he said, many leading countries of the world have set up separate trade centres there in addition to their missions in order to explore the potential of Dubai as a commercial heartland. "So, we find as many as 33 numbers of Foreign Trade Centers in Dubai. These countries could harness the possibilities of Dubai by utilizing the service available in these trade centres." Shajahan said Indian exports from UAE increased to US$2.15 billion with a growth rate of 18 percent in the fiscal 1999-2000. Similarly, countries like Japan, China, Taiwan, Singapore, Indonesia, Korea and Thailand could also expand their export business in the Middle East by utilizing Dubai as a launching pad, he told the business meet. Compared to these countries, Bangladesh could not be benefited from the possibilities of Dubai, although its export earning in 1999-2000 was US$ 38.32 million. "But in terms of quality and competitiveness, many of our traditional and non-traditional items enjoy advantage over others," Shajahan said. He said Bangladeshi leather products, Ceramic, Porcelain, Jute Goods, Tea, Textile items, RMG and knitwear, fish and vegetables, electric and electronic products etc. are of international standards and could stand in competition with the commodities of other countries. "The financial and management resources of the UAE using the human resources of Bangladesh can be combined together to offer goods and services for not only to the two countries but also the rest of the world bringing profit to both the countries," said FBCCI president Abdul Awal Mintoo. He said the balance of trade between the two countries is now in favour of UAE despite the volume of bilateral trade being small. In 1998-99, Bangladeshi exports to UAE stood at US$19.77 million against an import bill of US$60.61 million, showing an imbalance of US$40.84 million against Dhaka. "We must explore possibilities of expansion of our bilateral trade," the apex trade body chief said. He said Bangladesh has potential of exporting a large number of items to UAE, such as fish, shrimps, fruits and vegetables, jute goods, readymade garments, knitwear and specialized textiles, tea, leather and leather products, handicrafts, ceramic products (sanitary wares and table-wares), pharmaceuticals, PVC pipe, particle board, cables and wires etc. Bangladesh may import mineral fuels, oil products, transport equipment, chemical products, machinery and mechanical appliances, base metal products, etc. from UAE, said the FBCCI president. |