The Iranians are clearly very keen to further extend their hand of friendship across the South Asian region. Iran is already deep in negotiation with India to construct a gas pipeline between the two countries that would cross through Pakistan -- an initiative that has the blessings of both the South Asian rivals. This trip to Bangladesh underscores their commitment to further engagement with this part of the world, and should be welcomed by us.

As far as Bangladesh is concerned, the relationship with Iran is already good. We are pleased that Iran is one of the few countries in the world with whom we actually have a trade surplus. But things could always be better. It is estimated that the current volume of trade, between $40 and $50 million, could be increased ten-fold.

Iran is a rich potential market for Bangladeshi tea and ready-made garments. In addition the visiting delegation has made it clear that Iran is keen to make itself useful to our economy in any number of other ways as well.

For instance, the use of Bandar Abbas port to get access to the Central Asian nations is an attractive proposition. Similarly, setting up backward linkage industries to support the RMG sector would help us to improve the paltry 21 percent value addition that is the current norm.

The other way in which Iranian input would be welcome is direct investment and technology transfer. In terms of investment, the visiting Iranians have expressed interest in initiatives as wide-ranging as agro-based industry, food processing, poultry, dairy, fisheries, and livestock, to of course, oil, gas, and coal.

Not only would investment in these sectors be welcome, Iran can also bring to the table oil and gas exploration expertise and other advanced energy-related technological know-how. Similarly, heavy vehicle and textile manufacturing expertise could profitably be shared.

A closer relationship with Iran would certainly be advantageous to us and we are glad to see that the private sector at least is pursuing this idea.