Dhaka: 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, emphasized the potential for Bangladesh to become a strategic manufacturing and logistics hub for Turkish investors aiming to access the broader Asian market.

According to Anadolu Agency, Chowdhury identified key sectors such as the textile and garment industry, construction, building materials, defense industries, and pharmaceuticals as promising areas for Turkish investment in Bangladesh. He highlighted Bangladesh's expected growth, projecting it to become the world's eighth-largest consumer market by 2030, presenting significant opportunities for various sectors.

Chowdhury also mentioned the potential for international cooperation in the defense sector. Recent discussions between Ankara and Dhaka have focused on technology transfer and joint ventures, which could position Bangladesh as both a supplier and a future customer for Trkiye's defense industry.

He noted Trkiye's status as a fully developed country, with many Turkish companies already operating within a four-hour flight radius. This geographical advantage could enable Bangladesh to serve as a hub for Turkish investors targeting Asian markets. By manufacturing in Bangladesh, Turkish companies could distribute their products across South Asia, Southeast Asia, and East Asia.

Chowdhury pointed out the cultural affinity and emerging market mentality shared by Turkish companies and Bangladesh, creating a natural synergy. He urged the Turkish business community to view Bangladesh as a "potential second office for Asian development and Asian growth."

He also suggested that it's time for Trkiye to establish its own economic zone in Bangladesh. Highlighting the success of Turkish companies in logistics, including aviation and seaport logistics, Chowdhury encouraged Turkish businesses to explore Bangladesh as a potential opportunity within the logistics network.

The bilateral relations between Trkiye and Bangladesh date back to 1974, with embassies established in Dhaka and Ankara in the subsequent years. Currently, the two countries share a bilateral trade volume of $1.1 billion.