Indonesian Ambassador to Bangladesh Listyowati has stressed the need to strengthen business-to-business communication and cooperation between Bangladesh and Indonesia to reduce the existing trade imbalance and unlock new opportunities for bilateral commerce.
Although Indonesia currently enjoys a trade surplus with Bangladesh, imports from Bangladesh have recently increased by nearly 6%, she said, expressing optimism about expanding trade through joint ventures in halal food, energy, pharmaceuticals, chemicals and industrial raw materials.
The ambassador made the remarks at an interactive session with business leaders organised by the Chattogram Chamber of Commerce and Industry (CCCI) at the World Trade Centre on the morning of November 11.
Highlighting the quality of Bangladeshi pharmaceutical products, Listyowati encouraged local manufacturers to establish stronger links with Indonesian businesses to explore opportunities in the Indonesian market.
She also underscored the potential of Chattogram’s port and industrial infrastructure in facilitating bilateral trade. Regular exchanges of business delegations, improved maritime connectivity and logistics facilities, and direct flights between Dhaka and Jakarta could significantly strengthen commercial relations.
The embassy, she assured, would extend support in facilitating visa procedures and promoting greater business-to-business engagement between the two countries.
CCCI President Mohammed Amirul Haque described Indonesia as one of Bangladesh’s important trading partners, noting that Bangladesh imports coal, clinker, palm oil, fuel and various industrial raw materials from the country.
Indonesian supplies, particularly for the cement and energy industries, are crucial to Bangladesh’s economy.
He said Bangladesh could benefit from Indonesia’s expertise and technology in the halal industry through knowledge-sharing, joint ventures and independent investments. With appropriate initiatives, bilateral trade could potentially reach $10 billion within the next five years.
Urging Indonesia to increase imports from Bangladesh, Amirul Haque called on the ambassador to facilitate purchases of at least $1 billion worth of Bangladeshi products to help narrow the trade gap.
He also pointed out that some Indonesian institutions do not directly accept letters of credit (LCs) issued by Bangladeshi banks, forcing businesses to conduct transactions through third countries. This increases both transaction costs and delivery time.
To address the problem, he called for stronger coordination between the banking and financial institutions of the two countries, multiple-entry visas for Bangladeshi businesspeople, and direct air and maritime connectivity between Dhaka and Jakarta.
Former CCCI president and Port Users Forum Chairman Amir Humayun Mahmud Chowdhury proposed that Bangladesh seek Indonesian technical assistance alongside importing railway coaches from the country. Such cooperation could help develop local railway workshops and build domestic capacity to manufacture coaches.
Other business leaders stressed the need to diversify Bangladesh’s exports to Indonesia, particularly pharmaceuticals, jute and jute products, and muslin sarees. They also called for Indonesian investment, both independently and through joint ventures, in cement, steel and raw materials for power plants.
Among those attending the session were S M Abu Tayeb, Honorary Consul of Vietnam; Mia M. Abdur Rahman, Honorary Consul of Spain; Mohammad Mohsin, Honorary Consul of Korea; CCCI directors Engineer Golam Sarwar and Shahidul Alam; C&F Agents Association General Secretary Shawkat Ali Chowdhury; and representatives of various business organisations.
