Diplomatic Desk: A three-day ‘Saudi Arabia-Bangladesh Business Summit’ is scheduled to commence today in the city in an effort to forge strong trade, economic, and investment ties between Saudi Arabia and Bangladesh.
The event is being organized by the Saudi Arabia-Bangladesh Chamber of Commerce and Industry (SABCCI) for increasing Bangladesh’s presence in the Saudi market to reduce dependence on a limited number of existing buyers.
“This joint initiative marks a timely step toward building a strong economic and investment partnership. A primary goal of the summit is to increase Bangladesh’s presence in the Saudi market, thereby helping to reduce Bangladesh’s dependence on a limited number of existing international buyers,” said SABCCI President Ashraful Haq Chowdhury at a press conference held today at Gulshan area in the city.
The summit will bring together business leaders, economists, policymakers, and business sectoral experts from both countries.
A 20-member Saudi business and representative delegation will participate in the event, focused on unlocking vast trade and investment potential across various sectors. The Saudi delegation will be led by Sheikh Omar Abdul Hafiz Amir Baksh, owner of Majd Al Umran Group.
The main event of the business summit is set for October 7 at a city hotel. Commerce Adviser SK Bashir Uddin is expected to attend as the chief guest, while Bangladesh Bank Governor Ahsan H Mansur will be present as the special guest.
Regarding the schedule, the first day of the summit will include the arrival of the Saudi delegation and a reception dinner. The final day, October 8, will feature a B2B meeting and a final meeting of the Saudi delegation.
The Saudi market offers significant potential for Bangladeshi exports, including ready-made garments, agricultural products, IT, digital finance, and jute goods.
Beyond increasing exports, Bangladesh is now interested in joint investments across various sectors, moving past the traditional focus on sending skilled manpower to Saudi Arabia.
Ashraful Haq Chowdhury emphasized that there is tremendous potential for cooperation between the two countries in several advanced and industrial sectors, including petrochemicals, steel, agro-industries, green technology, cyber security, and semiconductors.
