Azerbaijani delegation seeks to strengthen ties, boost investment in Bangladesh

An Azerbaijani government delegation, headed by Deputy Foreign Minister Elnur Mammadov, is currently in Bangladesh on an official visit to discuss strengthening bilateral ties and boosting investment cooperation.

The Azerbaijani delegation began their visit with a tour of the Bangladesh Investment Development Authority (BIDA), where they held important talks with Ashik Chowdhury, the head of BIDA. The discussions centred on potential avenues for enhancing investment collaboration between Azerbaijan and Bangladesh, Caliber.Az reports via local media.

As part of their visit, the Azerbaijani officials also participated in a roundtable discussion aimed at advancing mutual investment opportunities. Both sides expressed a keen interest in fostering stronger economic and trade ties to benefit both nations.

The Bangladesh Investment Development Authority (BIDA) is the principal private investment promotion and facilitation agency of Bangladesh. 

BIDA’s functions can be categorised as follows: 

Pre-investment information and counseling service. Investor welcome service (faster immigration). 

Registration/approval of foreign, joint-venture and local projects.

Registration/approval of branch/liaison/representative offices. 

Approving work permit for the foreign nationals.

Facilitating utility connections (electricity, gas, water & sewerage, telecom etc.). 

Assistance in obtaining industrial plots.

Approving remittance of royalty, technical know-how and technical assistance fees.

Facilitating import of capital machinery & raw materials. 

Approving foreign loan suppliers’ credit, PAYE scheme etc.

By Naila Huseynova