- By manufacturing in Bangladesh, Turkish companies could export their products across South Asia, Southeast Asia, and East Asia, says Chowdhury
ISTANBUL
Bangladesh could serve as a hub for Turkish investors looking to expand into Asia, according to a Bangladeshi official.
Ashik Chowdhury, executive chairman of the Bangladesh Investment Development Authority and Bangladesh Economic Zones Authority, told Anadolu that the South Asian nation could become a strategic manufacturing and logistics hub for Turkish investors seeking to enter the wider Asian market.
Chowdhury said the textile and garment industry, construction, building material, defense industries, and possibly pharmaceuticals are key sectors for Turkish investment in Bangladesh.
He said that Bangladesh, which is expected to become the world’s eighth-largest consumer market by 2030, offers significant opportunities for several sectors.
He also highlighted the potential for international defense sector cooperation.
Recently, Ankara and Dhaka have been discussing technology transfer and joint ventures that could turn Bangladesh into both a supplier and future customer for Türkiye’s defense industry, he said.
“I think Türkiye is a fully developed country,” he said, noting that many Turkish companies have expanded regionally and operate within a four-hour flight radius, which could help Bangladesh serve as a hub for Turkish investors looking to access Asian markets.
By manufacturing in Bangladesh, Turkish companies could “export or distribute their products all across South Asia, Southeast Asia, and East Asia,” Chowdhury added.
“Cultural affinity and also the emerging market mentality” create a natural synergy between Turkish companies and Bangladesh, he said, noting that these experiences make the Turkish investors “risk-takers who understand the journey.”
In this context, the Turkish business community should consider Bangladesh as a “potential second office for Asian development and Asian growth,” he said.
“I do feel that it’s about time that Türkiye also has its own economic zone in Bangladesh,” Chowdhury said.
Many Turkish companies have “done very well” in logistics, including aviation and classic seaport logistics, he noted, adding that “it is about time that Turkish businesses start looking at Bangladesh as a potential business opportunity in the logistics network.”
Türkiye and Bangladesh established bilateral relations in 1974, with the opening of the Turkish Embassy in Dhaka in 1976 and the Bangladeshi Embassy in Ankara in 1981.
The two countries have a $1.1 billion bilateral trade volume currently.
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