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silkystaynews.com News Bangladesh Seeks Türkiye's Support in Defense Industry Development

Bangladesh Seeks Türkiye's Support in Defense Industry Development

Bangladesh invites Türkiye to collaborate on defense industry development. Potential for expanding economic cooperation beyond textiles discussed in meeting. Emphasis on diversifying collaboration in defense, healthcare, and agriculture. Shared goal to enhance trade relations and utilize Bangladesh's youthful workforce. Existing Turkish investments in various sectors contributing to Bangladesh's industrial growth. Nobel laureate Yunus leads efforts to restore stability and oversee parliamentary elections in Bangladesh.

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Bangladesh Seeks Türkiye's Support in Defense Industry Development

Bangladesh Invites Türkiye to Help Build Defense Industry

The chief of Bangladesh's caretaker government, Muhammad Yunus, has extended an invitation to Türkiye to bring its advanced technology to Bangladesh and collaborate in developing the defense industry of the South Asian nation.

Meeting Between Bangladeshi and Turkish Delegations

In a meeting with a Turkish delegation led by Trade Minister Ömer Bolat in Dhaka, both sides discussed the potential for expanding cooperation between the two countries beyond the textile industry, which currently dominates Türkiye's imports from Bangladesh.

Diversification of Economic Cooperation

Minister Bolat highlighted the opportunity for economic collaboration in various sectors such as defense industry, healthcare, pharmaceuticals, and agricultural machinery, aiming to enhance bilateral trade and mutually beneficial partnerships.

Enhancing Trade Relations

With Bangladesh's exports to Türkiye reaching approximately $581 million in the past year and imports standing at around $424 million, there is a shared ambition to further strengthen trade ties and explore new avenues for economic growth.

Utilizing Youth Workforce

Citing Bangladesh's youthful population, Yunus emphasized the potential for Türkiye to leverage the country's labor force by establishing manufacturing facilities, enabling the production and distribution of goods within the region.

Existing Turkish Investments in Bangladesh

Currently, nearly 20 major Turkish companies are actively engaged in various sectors in Bangladesh, including garments, textiles, accessories, chemicals, engineering, construction, and energy, contributing to the nation's industrial development.

Yunus's Role in Bangladesh

As a Nobel Peace laureate and a champion of microcredit initiatives, Yunus assumed leadership of Bangladesh's caretaker government with a vision to restore stability following a period of unrest and ultimately oversee the organization of new parliamentary elections.

Pioneering Microcredit Movement

Yunus, known as the "banker to the poor," gained international recognition for founding the Grameen Bank and pioneering microcredit programs that have empowered millions of impoverished individuals by providing access to financial services.

Rebuilding Bangladesh's Future

Tasked with the challenging responsibility of rebuilding post-conflict Bangladesh, Yunus aims to navigate the country towards a path of peace and prosperity, utilizing his expertise in social entrepreneurship and economic development.

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