A BANGLADESHI pharmaceutical company is targeted to set up a manufacturing plant in Davao City, an envoy said.
Bangladesh Ambassador to the Philippines F.M. Borhan Uddin told the media in a press conference that the Bangladeshi company that expresses intention to expand in the country is Square Pharmaceuticals Ltd.
Following his visit in Davao City two weeks ago, Uddin said he will pitch to the company the city as a viable investment destination.
“We will request to divert the company here in Davao City if possible. We will try to negotiate with the company to come here to Davao City and establish their plant,” he said.
Uddin was in the city for a courtesy visit to Davao City mayor-elect Sebastian “Baste” Duterte and officials of the Davao City Investment and Promotion Center (DCIPC) on June 6, 2022.
He also made exploratory talks with the city’s business players (Davao City Chamber of Commerce and Industry Inc.) and the Mindanao Development Authority (Minda).
Uddin also shared that a city-to-city agreement between countries would help facilitate potential business partnerships in agriculture and tourism, among other sectors.
With this, he said Bangladesh is eyeing to pact partnerships with the city by inking a sisterhood pact between Davao and Khulna, which is the third-largest city in Bangladesh after Dhaka, as part of initiatives to expand economic and cultural ties between the two countries.
“We have received some ideas from DCIPC. Number one is making a sister city agreement. That is a very good idea for us and by initiating the sister city agreement, we can work together on the environment,” the diplomat said.
A memorandum of understanding (MOU) between the Embassy and the city government of Davao to further collaborations in the fields of business, and tourism, among others is also eyed to be inked this year.
The diplomat also sees that his country and Davao City and the Philippines can do more as trade partners.
Bangladesh is the 50th largest exporter to the Philippines. The total bilateral trade between Bangladesh and the Philippines stands around $110 million in 2020-2021.
Honorary Consul General of Bangladesh in Mindanao Joji Ilagan-Bian said the Bangladeshi government is also eager to bring Bangladesh tea in Davao City. Bangladesh is the 10th largest tea producer in the world.
The Philippines and Bangladesh celebrate 50 years of diplomatic ties this year.