Djibouti offers duty-free access; BD investors eye 600mn people African market: Envoy

Djibouti, known as the gateway to Africa, offers duty-free investment opportunities, allowing Bangladeshi investors and industrialists to tap into a market of 600 million people across 21 African countries.

At a press conference titled Bangladesh Business Delegation to the Republic of Djibouti held in a city hotel on Tuesday the sponsors called upon businessmen and industrialists to register for a visit programe by December 24.

The press conference was arranged by Bangladesh Reconditioned Vehicles Importers, Dealers Association (BADVIDA) and was attended by Djibouti's Ambassador to Bangladesh Abdillahi Assoweh isse, BGMEA members and representatives of textiles, home textiles, pharmaceuticals, electronics and food processing sectors.
A visit plan has been chalked out to go to Djibouti in January next year.

Abdillahi Assoweh isse said Bangladeshis can easily invest in Djibouti by taking advantage of uninterrupted electricity and internet facilities and duty-free market entry. In addition, they can also take advantage of a market benefit of 600 million people in 21 African countries including Djibouti.

He said the second main seaport in Africa is in Djibouti. The envoy said Bangladeshi investors can visit Djibouti in January, understand; the investment situation to take any initiatives.

He said China and India are competitors of Bangladesh's ready-made garments. But Djibouti and no other country in Africa is a competitor of Bangladesh. Therefore, investing there is safe business for Bangladeshis.

Abdul Haque said Bangladeshi leather has to be thrown into water during the Eid-Ul-Azha season. However, if investors in leather goods can set up plants in Djibouti, they will benefit from a big market. There is a huge seaport to export goods to other African countries using that seaport.

Haque said Bangladesh can graduate from an import dependent country to an exporting nation this way.

Addressing the businessmen, Abdul Haque said, "Those who want to invest in Djibouti and export products from here will have to register by December 24; because we will be visiting Djibouti, in January next year.