Bangladesh and Türkiye are moving toward a stronger economic partnership, with both countries agreeing to explore a Free Trade Agreement (FTA) or Preferential Trade Agreement (PTA) as part of broader efforts to expand trade, investment, and industrial cooperation.
The discussions took place during the official visit of Turkish Foreign Minister Hakan Fidan to Dhaka, where he held bilateral talks with Bangladesh Foreign Minister Dr. Khalilur Rahman. Both sides expressed their commitment to elevating bilateral relations to a strategic partnership and unlocking new economic opportunities across key sectors.
A major focus of the talks was the expansion of bilateral trade, which currently stands at approximately $1.3 billion annually. Bangladesh and Türkiye have set an ambitious target of increasing trade volume to $2 billion in the coming years through enhanced market access, investment facilitation, and closer business collaboration.
The proposed FTA or PTA is expected to play a significant role in reducing trade barriers and creating a more favorable environment for businesses in both countries.
The textile and apparel industry is expected to be among the biggest beneficiaries of deeper economic ties. Bangladesh has identified textiles and apparel as priority sectors for Turkish investment, recognizing Türkiye’s strengths in textile technology, technical textiles, machinery manufacturing, and value-added apparel production.
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Industry experts believe greater collaboration could help Bangladesh diversify beyond traditional garment exports and accelerate its transition into higher-value textile products and advanced manufacturing segments.
Bangladesh also invited Turkish investors to take advantage of opportunities within its economic zones and special economic zones. During the discussions, Dhaka proposed the establishment of a dedicated Turkish Special Economic Zone, a move aimed at attracting long-term investment in manufacturing, textile processing, apparel production, and industrial infrastructure.
Such a facility could strengthen supply chains between the two countries and encourage Turkish companies to establish a larger production presence in Bangladesh.
Beyond textiles, the two countries identified several sectors with strong investment potential, including pharmaceuticals, shipbuilding, renewable energy, infrastructure, information and communication technology (ICT), smart technologies, and defense manufacturing.
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Officials from both sides emphasized that expanding cooperation in these sectors could contribute to technology transfer, industrial modernization, job creation, and greater economic resilience.
The latest developments come as Bangladesh seeks to strengthen its global trade network ahead of its post-LDC graduation era, while Türkiye looks to expand its economic footprint in South Asia.
Business leaders have welcomed the discussions, noting that stronger Bangladesh-Türkiye cooperation could create new sourcing opportunities, improve access to high-value markets, and enhance competitiveness across the textile and apparel value chain.
The two governments are now expected to focus on converting the outcomes of the talks into concrete trade agreements, investment projects, and industrial partnerships that deliver long-term benefits for both economies.
