Bangladesh and Kosovo discuss FTA to boost bilateral trade

Photo: Collected

News Desk: Bangladesh and Kosovo discussed initiating the process for a bilateral Free Trade Agreement (FTA) and utilizing European trade opportunities to increase trade, investment, and economic cooperation between the two countries.

According to a press release issued by the Ministry of Foreign Affairs today, the discussion took place during a meeting held on Thursday in Pristina between Bangladesh’s Foreign Ministry Secretary of the Bilateral Affairs Wing, Ambassador Md. Nazrul Islam, and Kosovo’s Minister of Industry, Entrepreneurship, Trade and Innovation, Mimoza Kusari-Lila.

The meeting focused particularly on specific opportunities for cooperation in the pharmaceutical, biotechnology and information technology sectors.

Both sides also agreed to increase private-sector engagement and exchange business delegations.

Bangladesh urged Kosovo to import more Bangladeshi products, including ready-made garments (RMG), jute and jute products, ceramics and pharmaceuticals. Kosovo investors were also invited to explore investment opportunities in Bangladesh’s Special Economic Zones (SEZs).

Both sides also discussed the formation of a “Joint Working Group” on trade and economic cooperation. In addition, Kosovo’s private-sector representatives were invited to visit Bangladesh.

The meeting also discussed increasing business-to-business cooperation, including a partnership between the Kosovo Chamber of Commerce and the Dhaka Chamber of Commerce. The possibility of Bangladeshi companies establishing manufacturing facilities in Kosovo was also discussed.

Kusari-Lila highlighted Kosovo’s investment potential. She mentioned the advantages of its geographic location in relation to the European Union (EU) market, favorable tax policies, a competitive workforce, and access to European markets through the Central European Free Trade Agreement (CEFTA) and the European Free Trade Association (EFTA).

She further said that Bangladesh could also benefit from the advantages of regional connectivity among the Western Balkan countries.

Both sides discussed initiating the process for a bilateral Free Trade Agreement (FTA). They believe that such an agreement could create new opportunities for expanding trade and investment.

Bangladesh’s Ministry of Foreign Affairs Director General of the Eastern Europe and CIS Wing S. M. Mahbubul Alam and Kosovo’s Ambassador to Bangladesh Lulzim Pllana were present at the meeting.