Commerce Minister Tipu Munshi has said that the Bangladeshi products are capable of gaining trust of the Saudi Arabia buyers since the country has gained capacity to supply world class products in the global market in comparatively less price, reports news agency BSS.

The commerce minister said this while addressing the inaugural session of the three-day ‘Bangladeshi Products Exhibition-2023’ as the chief guest held at Saudi Arabia’s capital Riyadh on Wednesday.

Bangladesh Ambassador to Saudi Arabia Mohammad Javed Patwary and Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Faruque Hassan also spoke on the occasion.

The programme was presided over by Export Promotion Bureau (EPB) vice chairman AHM Ahsan, said a press release.

Terming Saudi Arabia as a trusted friend of Bangladesh, Tipu said that Saudi Arabia is also a large trade and development partner of Bangladesh.

Noting that the demand for Bangladeshi products in the market of Saudi Arabia is growing day by day, he said that this huge potential should be tapped.

The commerce minister also mentioned that the incumbent Awami League government has been providing necessary support to the businesses to extend trade and commerce.

“The reputation of Bangladeshi products has spread across the globe for which the export of Bangladeshi items is growing day by day,” he added.

Tipu also expressed his heartfelt gratitude to the Saudi King, the Crown Prince and also to the kingdom of Saudi Arabia for extending all necessary support to Bangladesh.

He hoped that the Kingdom would continue to extend all possible support for boosting trade and commerce between the two countries.

The commerce minister also stressed the need for holding fair in various parts of the world projecting the Bangladeshi products to attract attention of the global buyers.

Bangladesh exported goods worth $290 million to Saudi Arabia in the last fiscal year (FY22) which is 12 per cent higher than the previous fiscal year, according to official data.

A total of 30 firms are taking part in the exhibition highlighting RMG, pharmaceuticals, and leather goods products.