RIYADH: The Federation of Saudi Chambers has agreed a memorandum of understanding with its counterpart in Bangladesh to create a business council. The deal was signed by Vice President of the Federation of Saudi Chambers Tariq bin Muhammad Al-Haidari and his Bangladeshi counterpart Mohammed Habib Ullah Dawn, the Saudi Press Agency reported. The agreement, which was signed during the 14th session of the Saudi-Bangladesh Joint Committee, is designed to promote trade between the two countries. Bangladesh is currently ranked 39th in terms of trade volume with the Kingdom. The business council aims to launch many commercial and promotional initiatives in the fields of trade, investment, services, industries, training, healthcare, and information technology. It will also serve as a platform for Saudi and Bangladeshi businessmen to promote their operations and form partnerships. It will attempt to forge new areas for economic cooperation, while facilitating the exchange of information on available markets and investment opportunities.