Dhaka, Aug 14 (V7N) – Bangladesh and Kosovo have discussed initiating a bilateral Free Trade Agreement (FTA) process alongside leveraging European trade frameworks to expand trade, investment and economic cooperation between the two countries.
The issue was discussed during a meeting between Bangladesh's Foreign Ministry's Secretary (Bilateral) Ambassador Md Nazrul Islam and Kosovo's Minister of Industry, Entrepreneurship, Trade and Innovation Mimoza Kusari-Lila in Pristina on Thursday, according to a foreign ministry press release.
The two sides discussed concrete opportunities for cooperation, particularly in pharmaceuticals, biotechnology and information technology, and agreed to encourage greater private-sector interaction and exchanges of business delegations.
Bangladesh urged Kosovo to import more Bangladeshi products, including ready-made garments (RMG), jute and jute goods, ceramics and pharmaceuticals, while inviting Kosovan investors to explore opportunities in Bangladesh's Special Economic Zones.
They also discussed forming a Joint Working Group on Trade and Economic Cooperation, while Bangladesh invited a Kosovan private-sector delegation to visit the country on an exploratory mission.
The meeting explored greater business-to-business cooperation, including collaboration between the Kosovo Chamber of Commerce and Dhaka Chamber of Commerce, as well as prospects for Bangladeshi companies to establish production facilities in Kosovo.
Minister Kusari-Lila highlighted Kosovo's investment potential, citing its proximity to the European Union market, fiscal policies, competitive workforce and access to European markets through the Central European Free Trade Agreement (CEFTA) and European Free Trade Association (EFTA). She also noted that Bangladesh could take advantage of regional connectivity among the Western Balkan countries.
Both sides discussed initiating a process towards a bilateral FTA, which they believe could create new opportunities for expanding trade and investment.
Bangladesh Foreign Ministry's Director General (East Europe and CIS) SM Mahbubul Alam and Kosovo's Ambassador to Bangladesh Lulzim Pllana were also present at the meeting.
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