Italy Keen to Expand Investment in Bangladesh beyond RMG Sector

Italy has expressed a keen interest in expanding trade and investment in Bangladesh across various sectors, including ready-made garments, to further strengthen the economic ties between the two nations. 

The interest was conveyed by the Italian Ambassador to Bangladesh  Antonio Alessandro during a meeting with  Minister for Commerce, Industries and Textiles and Jute Khandaker Abdul Muktadir at the Bangladesh Secretariat on Thursday.

During the meeting, the Minister highlighted the historic depth of the bilateral relationship, noting that Italy was among the first countries to recognize Bangladesh's independence. 

He also acknowledged the significant contribution of the Bangladeshi diaspora in Italy, stating, "Remittances sent by expatriate Bangladeshis living in Italy are playing a vital role in the country's economy."

Abdul Muktadir emphasized the untapped potential for Italian capital in Bangladesh’s emerging industries. 

"There is ample opportunity for Italy to increase its investment in Bangladesh. Specifically, there is great potential in the furniture, shipbuilding, and leather and leather goods industries," Muktadir said. 

He further mentioned that the government is actively seeking foreign investment to restart closed jute mills, adding that "the country's young and skilled workforce is a major advantage for investors."

Ambassador Antonio Alessandro reaffirmed the long-standing friendship between the two countries and signaled a shift toward broader economic cooperation. 

"A historic relationship exists between Italy and Bangladesh. We are interested in expanding trade and investment in other sectors beyond the ready-made garment industry," the Ambassador remarked.

To facilitate these goals, the Ambassador announced that an Italian business delegation is scheduled to visit Bangladesh this coming July. 

He underscored the necessity of institutional frameworks to bridge the gap between the two private sectors, stressing the importance of establishing a Free Trade Agreement (FTA) and joint business platforms to enhance communication and drive investment. 

Commerce Secretary Md. Abdur Rahim Khan and other high-ranking officials were also present during the meeting.