Dr. Yunus urges Turkey to invest in and move factories to Bangladesh

On Thursday, Chief Adviser Professor Muhammad Yunus called on Turkey to bring its technologies to Bangladesh, invest more, relocate factories, and tap into the country’s young workforce. Speaking at a meeting with a delegation led by Türkiye's Trade Minister Prof Dr. Ömer Bolat at the state guesthouse Jamuna, Dr. Yunus emphasized, "You are leaders in technology; you could establish your defense industry here. Let's begin this journey together… we are ready to support you in any way possible."

Highlighting Bangladesh as the world’s 8th most populous nation, Dr. Yunus pointed out that the interim government is focused on creating job opportunities for the youth and appealed for Turkey’s assistance. “We must provide opportunities for our young people, and I seek your help in this. My request is for you to involve them in running your factories here, so you can supply your products across the region,” he said.

The Chief Adviser also noted the strong potential for Bangladesh and Turkey to develop a robust and mutually beneficial relationship across various sectors. "The bond between our two countries is already very warm, and we want to expand that in all areas. There’s much to be done, and we look to you for support, technology, and investment," Dr. Yunus added.

In response, Turkish Trade Minister Prof Dr. Ömer Bolat suggested that Bangladesh and Turkey could broaden their cooperation beyond the textile industry, which currently dominates Bangladesh’s exports to Turkey. He proposed potential areas for collaboration in the defense industry, healthcare, pharmaceuticals, and agricultural machinery. "We could even replace markets like India in Bangladesh's import sector. There’s a broad scope for economic and social cooperation at all levels," he said. He also mentioned opportunities for reciprocal cooperation between universities in both countries.

In 2023-24, Bangladesh’s exports to Turkey amounted to approximately 581 million USD, while imports stood at about 424 million USD. Currently, around 20 large Turkish companies are operating in Bangladesh across sectors including garments and textiles, accessories, chemicals, engineering, construction, and energy. Notable Turkish companies in Bangladesh include AYGAZ (a Turkish LPG company), Coca-Cola Içecek, and ARCILIK (which recently acquired Singer Bangladesh Ltd.).

During the meeting, Dr. Yunus also recalled his phone conversation with Turkish President Recep Tayyip Erdoğan in August, which was followed by an eight-member Turkish delegation visiting Bangladesh in October. The meeting was attended by Commerce Adviser Sheikh Bashir Uddin, Adviser Mahfuz Alam, Special Envoy Lutfey Siddiqi, SDG Affairs Secretary Lamiya Morshed, and BIDA Chairman Ashik Mahmud Chowdhory, among others.