Bangladesh High Commission, London to set up Business Advisory Committee to seize post-Brexit new opportunities

Bngla Mirror Desk:

“A Business Advisory Committee will be set up by the Bangladesh High Commission, London with Diaspora and mainstream chambers in the UK and Bangladesh to seize new and diversified business, trade and investment opportunities in post-Brexit times”, said Bangladesh High Commissioner to the UK Saida Muna Tasneem said at a business dialogue titled, ‘New Business Opportunities in a post-Brexit Britain“ hosted by Bangladesh High Commission, London on Thursday.
The High Commissioner said that the Advisory Committee would facilitate regular networking and interactions for British-Bangladesh Chambers, entrepreneurs, and businessmen with British Companies showing growing interest in Bangladesh markets to import, export or invest in Bangladesh. Praising the Bangladesh Diaspora’s enterprise and entrepreneurial  drive for connecting more British energy, infrastructure and IT sector companies with Bangladesh markets over the past 3 years, the High Commissioner called upon the chambers to provide real time advice to the High Commission on how to complement a sustainable post-brexit and post LDC trade and investment Dialogue taking palce between the two countries.

Taking note of the success of the Bangladesh Investment Summit held in the UK in November last year, inaugurated by Prime Minister Sheikh Hasina, the envoy highlighted UK’s investment opportunities in Capital markets, infrastructure, renewable energy, Transport and communication, shipping ,agro-processing, pharmaceuticals, tourism, and low-carbon technologies as well as in Bangladesh’s transport, communication and energy sectors. She encouraged Chamber leaders to play a more active role in expanding Bangladesh’s exports to post-Brexit UK and research on UK’s investing in the financial and Fintech, logistics, IT, skills and education services sectors to take advantage of UK;s Points based system.

Chaired by the High Commissioner Tasneem, the dialogue was participated by Chairperson of British Business Group in Bangladesh Md Mahbub ur Rahman, Chairman, UKBCCI and CEO, Seamark Group Iqbal Ahmed OBE, President, British Bangladesh Chamber of Commerce and Industry Bashir Ahmed, and Secretary General of Bangladesh Caterers Association Mitu Chowdhury and a number of leading British regional Chambers amongst others as well as  Maurits Pot, Founder and CIO, Dawn Global and who all made a brief presentation on Diaspora’s investment opportunities in Bengal Tiger ETF (Exchange-traded Fund).

Speakers at the dialogue stressed the importance of holding industry-based stakeholder discussions, exchanging trade delegations, and allowing blue-chip Bangladeshi companies to invest in UK markets to leverage Bangladesh’s economic significance. They identified certain factors as major barriers to Bangladesh’s success in diversifying its exports and encouraging investment, including absence of policy to bring in green field investment from Bangladesh to the UK, shortages of cold storage and cargo flights for agro products, certification and accreditation issues, and one-stop- service window and recommended that the government take appropriate steps to remove those barriers.