Visit of Minister of Industry and Trade Mr. Martin Kuba to Bangladesh
18.03.2013 / 10:45
Minister of Industry and Trade of the Czech Republic Mr. Martin Kuba visited Bangladesh on 10 – 11 March 2013 on the invitation of Minister of Commerce of Bangladesh Mr. G. M. Quader. Minister M. Kuba was the first member of Czech Government from the establishment of the Czech Republic in 1993.
Minister of Industry and Trade of the Czech Republic Mr. Martin Kuba came to India after the highly successful visit of Minister of Commerce of Bangladesh Mr. G. M. Quader to the Czech Republic in November 2012.
Minister Martin Kuba was accompanied by a numerous official delegations, consisting of Deputy Minister of Industry and Trade Mr. Milan Hovorka, Deputy Minister of Transportation Mr. Jiří Žák, member of Economic Committee of Parliament Mr. Petr Bureš etc. Powerful business delegation consisted of 80 prominent Czech companies from sector of engineering, transportation, energy etc and top-level dignitaries from government institutions such as Czech Export Bank, Export Guarantee and Insurance Company or Czech Invest. The business delegation was organized by Economic Chamber of Commerce, represented in the delegation among others by its President Mr. Petr Kužel.
During his short but highly fruitful visit to Dhaka, Minister M. Kuba met various representatives of Bangladeshi Government and its state institutions, such as Minister of Commerce Mr. G. M. Quader, Minister of Railways Mr. Mujibul Houqe, Minister of Foreign Affairs Dr. Dipu Moni and other representatives of Ministry of Power, Ministry of Defence, and Ministry of Civil Aviation etc.
Minister of Commerce Mr. G. M. Quader hosted a dinner on the occasion of the Czech delegation visit, to which many representatives of Bangladeshi Government and main business representatives took part in order to facilitate discussion about the possible business and investment possibilities.
Deputy Minister of Industry and Trade Mr. Milan Hovorka held a meeting with representatives Bangladesh Textile Mills Association (BTMA) with whom he discussed deepening of mutual cooperation in the area of textile machines deliveries and also outsourcing of production of Czech companies to Bangladesh.
Economic Chamber of Commerce and Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) signed Memorandum of Understanding about the cooperation between these two chambers on 11 March 2013, giving a prospect to more intense cooperation of the chambers and exchange of business delegation. FBCCI agreed to bring a delegation of Bangladeshi companies to the Czech Republic in autumn 2013.
One of the most prominent Bangladeshi chambers of commerce, Metropolitan Chamber of Commerce & Industry (MCCI), organized a business forum “Exploring Opportunities: Bangladesh and the Czech Republic” which was attended by more than 50 Bangladeshi companies.
Prominent Bangladesh company Abdul Monem Ltd. also organized the exclusive business presentation of top Bangladeshi corporations, named „Welcome to the Land of Infinite Potentials“.
Visit of Minister M. Kuba to Bangladesh disclosed lots of possibilities for boosting the bilateral trade between the Czech Republic and Bangladesh, especially with respect to up to now tremendously low Czech export which constitutes only 10 % of bilateral trade. The scope for cooperation exists mainly in textile industry, energy and renewable energy sector, infrastructure (roads, airports, and railways), chemical and pharmaceutical industry, engineering etc.
In order to provide better conditions for the bilateral trade, discussion on the Agreement on Trade Promotion between the two countries are currently under way.