Bangladesh wants to diversify, boost trade, investment with UK

Commerce Minister Tipu Munshi has called upon the entrepreneurs and traders of Bangladesh and the United Kingdom to diversify and boost bilateral trade and investment between the two countries.

He invited the British and British-Bangladeshi entrepreneurs and businessmen to investment in Bangladesh’s IT, leather, pharmaceuticals, jute, tourism and capital market, saying these sectors would bring them more profit.

While addressing a trade and business dialogue organised by Bangladesh High Commission in London recently, the minister said a special zone could be developed in Bangladesh for expanding and relocating their businesses, said the High Commission on Monday.

He also referred to the initiative of developing 100 Special Economic Zones (SEZs) under the supervision of Prime Minister Sheikh Hasina to facilitate more trade and business opportunities to overseas investors to invest in Bangladesh.

Tipu Munshi said doing business in Bangladesh has been eased to a great extent while the government is offering fast-track services and various incentives, including tax exemption for up to 10 years to the foreign investors.

Industries Minister Nurul Majid Mahmud Humayun and Bangladesh High Commissioner in London Saida Muna Tasneem also spoke at the event.

The industries minister said the country’s trade and business landscape are improving at a faster phase due to the investment-friendly policy of the government.

Referring to the long-standing historical relations between Bangladesh and the UK, he said Bangladesh government is ready to provide all necessary support to the British and British-Bangladeshi investors.

High Commissioner Saida Muna said the Bangladesh High Commission has taken several initiatives to expedite more trade and business opportunities in the UK and increase further British investment in Bangladesh. “Our target is to increase Bangladesh trade to the UK by another 5-7 percent every year,” she said.

A large number of British and British-Bangladeshi business entrepreneurs attended the event.

Among others were senior community leader Sultan Mahmud Sharif and eminent entrepreneur Ahmed-us Samad Chowdhury.

The participants exchanged views with the two ministers on trade and business and made some proposals for easing further doing business in Bangladesh.