Muhammad Anwar Pasha, administrator of the Chittagong Chamber, highlighted the need to simplify visa processes to strengthen investment and trade relations with the Philippines.
He made the remarks during a meeting with Ms. R. Gutierrez, Third Secretary and Vice Consul of the Philippine Embassy, on Thursday, at the Chamber’s office in the World Trade Center in the port city.
Pasha noted that Bangladesh has made significant economic progress since independence, with Chittagong contributing notably through sectors such as ready-made garments, pharmaceuticals, shipbuilding, shipbreaking, and IT.
He mentioned that in 2022, Bangladesh exported $110 million worth of goods to the Philippines while importing $38 million, indicating that trade relations have not developed as robustly as they could.
He identified visa complexities as a primary challenge to enhancing these commercial ties and emphasized the need for streamlining visa processes to foster business-to-business relationships.
The meeting was also attended by leaders from Chittagong and representatives from the Philippine Embassy, such as Honorary Consul M.A. Auwal and former senior vice president of the Chamber, Ershad Ullah.
Ms. Gutierrez remarked on the strategic importance of Chittagong due to its geographic location and investment potential.
She assured that the Philippine government is committed to improving trade relations and is taking steps to resolve visa issues. She also invited Bangladeshi business delegates to visit the Philippines to enhance connections.
Speakers pointed out that Chittagong is home to approximately four to five economic zones where the government offers substantial incentives for foreign investors. They called on Filipino businesses to engage in both sole and joint investments with Bangladeshi entrepreneurs in sectors such as food processing, manufacturing, pharmaceuticals, and tourism. The meeting also saw participation from SM Saiful Alam, coordinator of the deprived business community, along with various officials from the embassy.
