Prospects of such huge investment in Bangladesh's textile sector in the form of relocation of technologically-upgraded Turkish textile plants to Bangladesh and also in joint ventures became evident during discussions between Bangladeshi and Turkish business leaders in Istanbul recently.

The discussions took place during Prime Minister Khaleda Zia's recent official visit to Turkey. A business delegation led by FBCCI President Mir Nasir Hossain accompanied the prime minister.

The business leaders of both Bangladesh and Turkey signed a memorandum of understanding (MoU) on bilateral cooperation in trade and investment and transfer of technology from Turkey to Bangladesh and training of manpower in textile sector.

Chairman of Bangladesh Textile Mills Association (BTMA) MA Awal and President of Textile Machinery Manufacturers and Accessories Association of Turkey Mustafa Sener signed the MoU on behalf of their respective sides.

MA Awal, who was a member of Bangladesh business delegation, had elaborate discussions with the Turkish investors and business leader of textile sector in Istanbul during the visit.

Talking to the news agency, Awal said the two sides discussed in details investment opportunities in textile sector in Bangladesh, preferential accesses and competitiveness.

The Turkish investors, he said, showed keen interest to relocate their upgraded textile industries and also to set up joint ventures in Bangladesh to avail the better opportunities offered by the country to foreign investors.

The two sides also had fruitful discussions about the garments and knit fabrics.

As a follow-up of his discussion, BTMA Chairman MA Awal will visit Istanbul on April 28 to discuss with the representatives of all associations of Turkish textile sector to discuss investment opportunities in Bangladesh.

He said the Turkish investors are visiting various countries of the world to find suitable places for relocation of their textile plants.