FBCCI seeks more investment from Commonwealth countries

Bangladesh Sangbad Sangstha . Dhaka | Published: 00:42, Feb 25,2020 | Updated: 00:42, Feb 25,2020


Federation of Bangladesh Chambers of Commerce and Industry president Sheikh Fazle Fahim on Monday said that the Commonwealth countries should feel secure to invest in Bangladesh as the country was heavily investing in infrastructure development and other areas to attract foreign investment.

In a meeting with visiting deputy chairman of the Commonwealth Enterprise and Investment Council Hugo Swire at the FBCCI head office, Fahim said that Bangladeshi businesses were also eager to take their products to the Commonwealth markets more.

He said that the United Kingdom, which is the top export market for Bangladesh earning $4.1 billion a year, should come forward to invest more in Bangladesh.

Currently, Bangladesh’s major Commonwealth trade partners include the United Kingdom, Malaysia, Singapore, India, Australia and Canada, with $ 23.15 billion imports. Talking about the overall growth and development in Bangladesh over the last one decade under the leadership of prime minister Sheikh Hasina, the FBCCI president said that Bangladesh sought investment in various sectors, including infrastructure, agriculture, leather and leather goods, information technology, power and energy, heavy and light engineering, tourism, furniture and pharmaceuticals.

He said that Bangladeshi businesses were keen to form joint venture companies with the Commonwealth countries while African nations could become a destination for Bangladeshi products with the help of the CWEIC.

CWEIC is the Commonwealth’s business network with over 90 business and government strategic partners from 27 countries and territories. It has a mandate to facilitate trade and investment throughout the 54 member nations of the Commonwealth. Hugo Swire said that many Commonwealth countries were not well aware of the investment potentials of Bangladesh.

He said that setting up of a hub office in Dhaka in the future could help to facilitate engagements in trade and investment between Bangladesh and other member nations of the Commonwealth through a strategic partnership.

‘Bangladesh is a good story for investment. . . I am learning more about Bangladesh, we can introduce Bangladesh to other Commonwealth countries as a good destination for investment,’ he said.

Swire, also a former UK minister of state for foreign and Commonwealth office, invited Bangladeshi businessmen to join the delegation of the FBCCI to the Commonwealth Business Forum in Rwanda in June alongside the Commonwealth Heads of Government Meeting (CHOGM).

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