trade
Bangladesh-India trade through Hili land port suspended due to holiday
Export-import activities between Bangladesh and India through the Hili land port in Dinajpur is suspended since this morning on the occasion of India’s Republic Day.
"Trade between the two countries remained suspended since Thursday morning as India is observing its 74th Republic Day which is marked as a national holiday,” Hili Customs C&F Agents Association President Abdur Rahman Liton said.
Read more: BGMEA calls on Sedex to promote encouraging stories of Bangladesh's RMG industry
"The trade activities will remain closed for Friday due to the weekly holiday. All activities of the land port will resume from Saturday (January 28),” he added.
MD Badiuzzaman, in-charge of Hili Immigration check post, said the movement of travellers through the land port will continue as usual.
BGMEA eyes expanding RMG exports to Japan
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has said the country's apparel industry has continued its efforts to explore new and promising markets like Japan and seize every available opportunity.
BGMEA President Faruque Hassan said: "We have been carrying out apparel diplomacy and trade missions to find new opportunities for Bangladesh's RMG industry and realise untapped potential."
Faruque made the observations while exchanging views with Hajime Suzuki, chief director of International Sales and Marketing at RX Japan, in Dhaka Monday (January 23, 2023). Kurena Watabe of RX Japan was also present.
Read: RMG manufacturer CKDL partners with Singapore firm to ensure workers' financial wellness
RX Japan is a leading exhibition organiser in Japan.
The two sides discussed possible collaboration between BGMEA and RX Japan to initiate trade communication between businessmen in Bangladesh and Japan, particularly those involved in the fashion industry.
Bangladeshi businessmen would be able to showcase strengths and capabilities by participating in apparel exhibitions in Japan while Japanese buyers and investors would get the opportunity to explore their trade potential in Bangladesh, they said.
Read more: BGMEA, Jetro want to expand Japan-Bangladesh trade
Bangladesh-Turkiye Business Forum launched to usher in new era of economic cooperation
With an aim to promote bilateral relations, the Bangladesh-Türkiye Business Forum (BTBF) was officially launched on Tuesday paving the way for a new era in trade and investment between the two countries.
“This is an important occasion for us because our countries are building another bridge through this business forum,” said outgoing Turkish Ambassador to Bangladesh Mustafa Osman Turan.
Prime Minister's Private Industry and Investment Adviser Salman F Rahman spoke at the event as the chief guest which began with brief classical music at the Turkish Embassy in Dhaka.
An hour before the launching event at the Embassy, Ambassador Turan together with the BTBF leaders opened the office of BTBF at “Marina Mansion” at city’s Gulshan-2.
Read more: Robust leadership, political trust fortified Dhaka-Ankara economic, defence ties: Turan
Honorary Consul General of Türkiye in Chattogram and co-chairman of BTBF Salahuddin Kasem Khan, Managing Director of Mohammadi Group and BTBF chairperson Dr. Rubana Huq and CEO of United AYGAZ LPG Ltd and BTBF Secretary Ercument Polat spoke at the event.
Bangladesh, Rwanda sign air connectivity agreement
Bangladesh and Rwanda have signed an air services agreement to enhance connectivity, trade and people-to-people ties.
Bangladesh High Commissioner to New Delhi Mustafizur Rahman and Rwanda High Commissioner to Bangladesh with residence in New Delhi Jacqueline Mukangira inked the deal in the Indian capital Thursday.
The agreement will facilitate the movement of people and goods between Bangladesh and Rwanda using the air route.
Read more: DCCI urges Rwanda to import more Bangladeshi products
The air connectivity agreement is also expected to contribute largely to the economic growth between Bangladesh and Rwanda.
Bangladesh has taken initiatives to forge cooperation with Rwanda in different sectors, including agriculture, food processing; promotion and protection of investments, foreign office consultations and cooperation between the foreign service academies of the two countries. Both sides are having discussions to sign agreements in these areas.
Read more: Momen leads Bangladesh to Commonwealth Heads of Government in Rwanda
Initiatives have also been taken to organise a bilateral visit from Bangladesh to Rwanda and hold bilateral consultations between the foreign ministries.
Boosting cooperation with Bangladesh on political, economic, climate fronts priorities for France: Ambassador Marie Masdupuy
Newly appointed Ambassador of France to Bangladesh Marie Masdupuy has said she will focus on three priority areas during her tenure in Dhaka to take the relations to a new height that include to “maintain and boost” political relations which can be translated in many different ways.
“Bangladesh and France have a very old political relationship. Even before the Liberation of Bangladesh, France gave very important political support internationally. We were at the forefront of the Bangladesh cause. This is the imprint that we all bear in our minds,” she told UNB in an interview.
Sharing her three-fold priorities, Ambassador Masdupuy said the two countries can lead joint initiatives in the area of climate change, noting that France and Bangladesh are both champions in this area.
France is a champion in promoting multilateral initiatives to give a better framework to the international community about climate change issues while Bangladesh is a champion in terms of being one of the most vulnerable countries in the world when it comes to dealing with climate change impacts, the French envoy observed.
Read more: French photographer who documented Liberation War revisits Bangladesh after 50 years
Highlighting the trade and investment issues, Ambassador Masdupuy said there are not enough French companies in Bangladesh.
There were more before Covid-19 and some of them left during the pandemic. “We need to attract them back. This must be done through joint efforts by both countries,” said the ambassador.
“We want to bring in many more French companies,” said the ambassador, recalling her visit to Chattogram, which she finds to be a thriving region of Bangladesh.
She said the prospect of Chattogram is very encouraging and contribution of Chattogram division to Bangladesh’s national economy is huge, and the port itself is making huge contributions and efforts to get an international level of competition. “This is very encouraging.”
Talking about the CMA CGM, a French container transportation and shipping company, the ambassador said it is already the second largest freighter to and from Chattogram and they are looking forward to become more important as much as the port itself will technically adapt to their requests and needs and to get to the level of Colombo and Singapore.
Read More: Md. Monwar Hossain appointed as the next ambassador to Myanmar
Indo-Pacific Region
France and Bangladesh share the same vision for a “free, open, peaceful, secure and inclusive” Indo-Pacific region, based on international law and with shared prosperity for all.
Taking note of the French and European strategies concerning the Indo-Pacific, both countries agreed to work towards promoting regional peace and stability and to explore further opportunities for cooperation in maritime security and blue economy.
“You know, France in the European Union (EU) was the first country to offer all European partners a strategy for the Indo-Pacific region. This strategy was adopted with some small differences and it was made an EU strategy,” said the ambassador.
Responding to a question, the French envoy said, “This strategy is not meant to be confrontational. It was meant to enhance cooperation in the whole region which is one of the largest trade regions and human exchanges regions of the world.”
Read more: New French, Omani ambassadors present credentials to President
So, she mentioned, it is not meant to be confrontational with any country of the bigger region.
Highlighting their commitment to fully observing the 1982 United Nations Convention on the Law of the Sea as well as the peaceful settlement of disputes, refraining from any threat or use of force, Bangladesh and France stated the importance of maintaining security and freedom of navigation and overflight in all seas and oceans.
Defence Cooperation
Ambassador Masdupuy said France is a world leader in terms of defence equipment and military equipment of high quality.
“Bangladesh is a country which already has various defence partners who have very strategic positions in South Asia,” she said, adding that any important country has to protect itself from all sorts of threats that they are facing today.
Read More: Ambassador Muhith elected vice-president of UNDP/UNFPA/UNOPS Executive Board
She said France is a world leader in terms of procurement and is, of course, ready and available to propose various equipment which would answer the particular needs of Bangladesh.
During Prime Minister Sheikh Hasina’s state visit to France in November 2021, the two countries stated their will to further develop the defence and security component of their partnership.
To that end, both countries agreed to strengthen dialogue and continue their cooperation, in particular the area of training, which was launched during the visit.
Furthermore, they committed to stepping up cooperation in the area of defence equipment based on the needs expressed and each party’s ability to respond to them, including through capacity building and potential technology transfer.
Read More: Amanul Haq appointed next Ambassador of Bangladesh to Turkey
In this regard, both parties welcomed the signing of a Letter of intent on defence cooperation.
GSP Plus
Bangladesh is currently enjoying trade facilities under the EBA (Everything but Arms) regime and the EBA regime will change as part of a technical measure.
“It will change once Bangladesh graduates as a developing country which is scheduled to happen in 2026. The friends of Bangladesh will look for ways and accompany during the transition period. We hope that the measures taken by your government will no doubt be adaptive to the situation. Your country will eventually take advantage of this new regime. It just needs a few adaptive measures.”
Airbus & Thales
Ambassador Masdupuy is thinking in particular of two important companies for greater engagements which are very actively involved currently on projects — the first being Airbus.
Read more: BGMEA chief calls on French brand to expand business base in Bangladesh
European aerospace giant Airbus is a leader in aviation and airspace while another company Thales is a major player in the high-tech industry in France.
Friendship based on Strong Bonding
Reflecting on 50 years of diplomatic relations between the two countries, the ambassador said, “It is true that the 50 years period is coming to an end soon. But we will have another 50 years event in April this year when we will celebrate the 50th anniversary of Andre Malraux’s visit to Bangladesh.”
Andre Malraux, the famous French litterateur and politician, wanted to join the Bangladesh Liberation War and take over a military command.
Once Bangladesh was liberated, Malraux did not miss the opportunity to visit the newly liberated country. Father of the Nation Bangabandhu Sheikh Mujibur Rahman personally invited Malraux in recognition of his contribution to Bangladesh’s liberation.
Read More: Ambassador Haas aims to continue strengthening Bangladesh-US ties in 2023
Two years into the country's independence, Malraux came to Bangladesh on 21 April, 1973.
During his five-day visit, Malraux traveled from Rajshahi to Chittagong and met freedom fighters, young university students, and Bangabandhu Sheikh Mujibur Rahman twice.
Target trade-based capital flight, not genuine consumption through imports: Economists
An upward trend in imports once again amid calls for austerity from the highest levels of Bangladesh government has raised concern among economists as to whether truly effective steps are being taken to check trade-based capital flight, particularly through the practise of over-invoicing by the country’s importers.
The government has been looking to shore up its dwindling reserves of foreign exchange by cutting down imports of non-essential and luxury items, as well as tightening the process for issuing LCs by banks on behalf of importers, during which over-invoicing occurs.
Both Bangladesh Bank and the government took a number of measures to curb import payments, which hit a record high of $82.5 billion in FY22, that ended last June 30. The central bank has asked banks to impose a 100 percent margin on the opening of LCs for non-essential items, meaning that importers have to make a full import payment in advance.
Read: Bangladesh Bank raises dollar exchange rate by Tk 1 to Tk 100
The results were mixed, with only a slight cooling down in imports noticeable in the first quarter of the current fiscal (July to September 2022), clocking $19.3 billion. With exports too slowing somewhat to $10.8 billion in the same period, the country’s trade deficit had already ballooned to $7.5 billion in the first three months of the year - sustaining the pressure on the reserves.
Subsequent data from the Export Promotion Bureau have shown that exports bounced back strongly in the second quarter, breaking records in November and December. But now import data, which from Bangladesh Bank tends to be a month behind the export numbers from EPB, has shown that imports too have kept performing robustly.
After continuing to hover above the $6 billion mark in October, the country’s imports crossed the $7 billion mark once again in November 2022, clocking $7.03 billion, up 14.2 percent from the previous month.
Read: Exporters to get slightly higher rate of Tk 102 for one US dollar
Acknowledging the need for austerity to check superficial spending, economist and former caretaker government advisor Dr. A.B.M Mirza Azizul Islam was keen not to see rising imports as a negative per se, since it also signals strong demand in the economy and the people’s purchasing power. Consumption can be a driver of growth.
"This is a good aspect of increasing imports. It is natural that imports will increase when the economy grows. Imports will increase, investment in the country will increase. The economy will move forward,” he told UNB.
“The problem is our imports had increased abnormally. It came down in various steps. Now there is an increasing trend again. But our reserves are dwindling. In this situation, there will be more pressure on reserves,” he said.
Read: Remittance: Bangladesh Bank tells banks to provide Tk 107 per dollar
So the government has to stay on the path of austerity, it should continue for some more time. After getting loans from the IMF, World Bank and ADB, things can be thought of differently, Mirza Aziz said.
Former governor of the central bank, Dr Salehuddin Ahmed, opined much the same, encouraging increased domestic resource mobilisation while following the path of austerity.
He also suggested strongly to verify the LCs against goods arriving via containers to stop trade-based money laundering, the real menace that needs to be targeted.
Read More: Bangladesh reassures Chinese FM of one-China policy, seeks better trade relations
As the global economy started to normalise in the post-pandemic period, Bangladesh witnessed galloping import demand outshine record exports in the 2021-22 fiscal. The $82.5 billion import figure was itself a record, up 36 percent year-on-year and leading to a record trade deficit as well.
The country’s forex reserves, which peaked at $48.1 billion in August 2021, will soon have halved since then.
At the end of the last trading week on Thursday (Jan. 5), the reserves stood at $33.6 billion, including encumbered reserves. The unencumbered reserves figure would be $24.5 billion, following the next payment to the Asian Clearing Union, $1.12 billion for the November-December period, due this week.
Read More: UK to strengthen trade, investment, digital economy ties with Bangladesh: Indo-Pacific Minister
Leaders of US, Canada, Mexico show unity despite friction
President Joe Biden, Mexican President Andrés Manuel López Obrador and Canadian Prime Minister Justin Trudeau sought to downplay their frustrations with one another on migration and trade as they met for the near-annual North American Leaders Summit.
The leaders offered a unified front on Tuesday despite tensions that have put a strain on their relationships even as Biden has made repairing alliances a cornerstone of his foreign policy agenda.
The tensions were front and center when Biden and López Obrador met on Monday, with the Mexican president complaining of “abandonment” and “disdain” for Latin America.
But as they closed Tuesday’s summit in Mexico City with a joint news conference, the leaders offered an optimistic outlook.
“We’re true partners the three of us,” said Biden, adding that they had “genuine like” for one another. “We share a common vision for the future, grounded on common values.”
López Obrador, for his part, thanked Biden for not building “even one meter of wall,” a not so subtle dig at Biden’s Republican predecessor, Donald Trump. The warmth during their joint press conference stood in stark contrast to the more brusque exchange a day earlier.
Still, López Obrador prodded Biden to “insist” Congress regularize undocumented Mexican migrants who work in industries where American employers are struggling mightily to find enough workers.
The three-way gathering is held most years, although there was a hiatus while Trump was president. It’s often called the “three amigos summit,” a reference to the deep diplomatic and economic ties among the countries.
However, the leaders have found themselves at odds, especially as they struggle to handle an influx of migrants and to crack down on smugglers who profit from persuading people to make the dangerous trip to the United States.
In addition, Canada and the U.S. accuse López Obrador of violating a free trade pact by favoring Mexico’s state-owned utility over power plants built by foreign and private investors. Meanwhile, Trudeau and López Obrador are concerned about Biden’s efforts to boost domestic manufacturing, creating concerns that U.S. neighbors could be left behind.
Trudeau emphasized in a one-on-one meeting with Biden the benefits of free trade and warned against Buy America policies that the U.S. administration has promoted, according to the prime minister’s office. Nearly 80% of Canada’s exports go to the U.S., so avoiding protectionism remains a priority for Canada.
The key takeaways from the summit revolve around better connections among the three nations and a shared goal of a stronger North America on energy and in particular semiconductors, climate and a pledge to cut methane emissions, an agreement to manage large waves of migrants coming to the region and a more cohesive regional strategy on dealing with future pandemic-related health threats.
In their talks on Monday, López Obrador challenged Biden to improve life across the region, telling him that “you hold the key in your hand.”
“This is the moment for us to determine to do away with this abandonment, this disdain, and this forgetfulness for Latin America and the Caribbean,” Lopez Obrador said.
Biden responded by pointing to the billions of dollars that the United States spends in foreign aid around the world.
At the start of Tuesday’s Biden-Trudeau meeting, the leaders spoke familiarly and with optimism. Trudeau called the U.S. president “Joe” and Biden joked with Trudeau — after the Canadian leader had delivered a statement to reporters in English and French — that he should have paid more attention in his college French classes.
Biden and Trudeau also discussed their countries’ efforts to support Ukraine nearly 11 months after Russia’s invasion. Canada announced Tuesday that it would buy an American-made National Advanced Surface to Air Missile System, or NASAMS, to be donated to Ukraine. The medium-range ground-based air defense system, which protects against drone, missile and aircraft attacks, costs about $406 million and brings Canada’s contribution to Ukraine to more than $1 billion since the start of the war.
The White House said in a statement that the leaders also discussed “the generational opportunity to strengthen supply chains for critical minerals, electric vehicles, and semiconductors.” The U.S. administration also announced that Biden will make his first visit to Canada as president in March.
“There’s a lot of reasons to be optimistic, especially for those of us in our countries,” Trudeau said. “But it’s going to take a lot of work, something neither you or I or most our citizens have ever been afraid of.”
Biden and López Obrador haven’t been on particularly good terms for the past two years. The Mexican leader made no secret of his admiration for Trump, and last year he skipped a Los Angeles summit of the Americas because Biden didn’t invite the authoritarian leaders of Cuba, Venezuela and Nicaragua.
But despite the tension, there’s been cooperation. The U.S. and Mexico have also reached an agreement on a major shift in migration policy, which Biden announced last week.
Under the plan, the U.S. will send 30,000 migrants per month from Cuba, Nicaragua, Haiti and Venezuela back across the border from among those who entered the U.S. illegally. Migrants who arrive from those four countries are not easily returned to their home countries for a variety of reasons.
In addition, 30,000 people per month from those four nations who get sponsors, background checks and an airline flight to the U.S. will be able to work legally in the country for two years.
The number of migrants crossing the U.S.-Mexico border has risen dramatically during Biden’s first two years in office. There were more than 2.38 million stops during the year that ended Sept. 30, the first time the number topped 2 million.
López Obrador spoke at length about Mexico’s efforts to control the flow into the United States of fentanyl, the synthetic opioid that has become a scourge for many American communities. He noted that his government gave the military control of sea ports to help with the interdiction of precursor chemicals coming from Asia.
“We are battling fentanyl, these chemicals, and we are doing it because we care. No human is foreign to us,” he said. “It really matters to us to be able to help with what is happening in the United States, the deaths from fentanyl. But also as we discussed today, it is not only an issue for the United States, because if we don’t confront this problem, this scourge, we are going to suffer it, too. So we have to act in a coordinated way.”
Canada is being nudged by the U.S. and other allies to lead an international mission to Haiti to help solve the ongoing humanitarian and security crisis.
Haitian Prime Minister Ariel Henry and the country’s Council of Ministers sent an urgent appeal Oct. 7 calling for “the immediate deployment of a specialized armed force, in sufficient quantity” to stop the crisis caused partly by the “criminal actions of armed gangs.” But more than three months later, no countries have stepped forward.
Trudeau on Tuesday called the situation “heartbreaking.” Both he and Biden said they will work with the United Nations Security Council to assist the Caribbean nation but also expressed caution about direct intervention.
“We need to make sure that the solutions are driven by the people of Haiti themselves,” Trudeau said.
China will remain engaged in Bangladesh’s next stage of development journey: Momen
Newly appointed Chinese Foreign Minister Qin Gang has conveyed to Bangladesh that his country will “remain engaged” in Bangladesh’s development journey to the next level, noting Bangladesh’s “remarkable” economic progress over the years.
“Our discussion was very useful and fruitful. Good news is that China has expressed its willingness to remain engaged with Bangladesh in our development journey. They want to work with us as a partner,” Bangladesh’s Foreign Minister Dr AK Abdul Momen said today (January 10, 2023).
Talking to reporters after attending a discussion, marking the historic Homecoming Day of Father of the Nation Bangabandhu Sheikh Mujibur Rahman, Momen said he and his Chinese counterpart discussed the impact of the Russia-Ukraine war, including disruptions in the supply chain and economic fallout.
“… We need to work together to overcome the current situation (due to the Ukraine war),” Momen said.
Read More: Bangladesh reassures Chinese FM of one-China policy, seeks better trade relations
TRADE RELATIONS
The foreign minister said he raised the huge trade gap issue with China as Bangladesh imports goods worth US$ 13 billion against exports worth less than US$ 800 million.
He said though there was a decision of duty-free and quota-free facilities for 98 percent of Bangladeshi products, it has not been fully implemented yet due to the absence of a gazette notification.
Businesses are yet to take advantage of the duty-free and quota-free facilities in the Chinese market, the minister said, seeking steps from the Chinese side.
Read more: New Chinese foreign minister makes brief stopover at Dhaka airport
ROHINGYA ISSUE
Regarding the Rohingya issue, Momen said the Chinese side sees some problems in Myanmar that are delaying the repatriation of the Rohingyas. “But he (Chinese foreign minister) remains hopeful.”
Momen said if the Rohingya issue remains unresolved, there is a possibility that they could become “radicalised”. “These people are stateless. Their future is uncertain. For that reason, they could succumb to extremism and terrorism,” he added.
The Bangladeshi foreign Minister sought special measures from the Chinese side so that the problem could be resolved as soon as possible.
“At least the process should start. He agreed,” Momen told reporters referring to his conversation with the Chinese foreign minister.
Bangladesh is hosting over 1.1 million Rohingyas in Cox’s Bazar and Bhasan Char and not a single Rohingya has been repatriated since August, 2017.
Read More: New Chinese envoy presents credentials to President Hamid
In August 2017, a deadly crackdown by Myanmar army on Rohingya Muslims sent hundreds of thousands fleeing across the border into Bangladesh.
Bangladesh also conveyed to China that it maintains a balanced foreign policy with all countries while reassuring Dhaka’s support to Beijing.
“We believe in the One-China principle. We maintain a balanced foreign policy. This is our principle. We will extend our support (to China) from time to time,” Momen told reporters at Hazrat Shahjalal International Airport early Tuesday as conveyed to his Chinese counterpart who had a brief stopover there.
Momen received his Chinese counterpart upon his arrival at around 1:58am, a senior official at the Ministry of Foreign Affairs told UNB.
Read More: Bangladesh 'pearl of Bay of Bengal, important country in South Asia': New Chinese envoy
The two Foreign Ministers had a brief meeting at the VIP Lounge of the airport and discussed issues of mutual interest.
Momen described the visit of Chinese President Xi Jinping to Bangladesh in 2016 as a milestone but mentioned that many decisions in terms of investment are yet to be implemented.
The foreign minister of Bangladesh also mentioned China’s involvement in a number of important development projects including the rail link of Padma Bridge.
He also thanked the Chinese government for its support to Bangladesh during Covid-19 pandemic.
The Chinese foreign minister invited Momen to visit Beijing at a mutually convenient time.
Read More: Outgoing Chinese Ambassador Li Jiming hopes Rohingya repatriation will start next year
In reply, Momen also invited his Chinese counterpart to come again for a longer stay.
Foreign Minister Momen saw off his Chinese counterpart at Hazrat Shahjalal International Airport at 2:50 am on Tuesday.
Earlier, Momen told UNB that it was not an official visit to Bangladesh, but the Chinese foreign minister would make a stopover here on his way to another destination.
Qin Gang, who until recently was ambassador to the US, has started his term with a weeklong trip to five African countries.
To “deepen the China-Africa comprehensive strategic and cooperative partnership”, Qin Gang will visit Ethiopia, Gabon, Angola, Benin, Egypt, the African Union Headquarters and the League of Arab States Headquarters upon invitation, from January 9 to 16, 2023, Chinese foreign ministry spokesperson Wang Wenbin said at a daily media briefing on Monday.
Read More: No good news yet from Chinese side on Rohingya repatriation: Momen
Bangladesh-Iran 2nd Foreign Office Consultations held in Dhaka
The 2nd Foreign Office Consultations between Bangladesh and the Islamic Republic of Iran was held in Dhaka on Thursday.
Foreign Secretary (Senior Secretary) Ambassador Masud Bin Momen and First Deputy Minister (Political Affairs) of Iran Ali Bagheri Kani led their respective delegations to the Consultations.
The Consultations reviewed the status of the bilateral relations between the two fraternal countries and discussed ways to enhance further cooperation and partnership in the field of commerce and trade, investment in the economic zones, human resource development, people-to-people ties, food security, energy, connectivity, Blue Economy, climate change cooperation and so forth.
The two sides underscored the importance of the exchange of high-level visits and timely implementation of the agreements signed between the two countries.
The Bangladesh side requested a deeper engagement of Iran to facilitate sustainable return of the forcibly displaced Myanmar nationals to their country of origin.
They exchanged views on global issues and issues of regional cooperation as well. Both sides agreed to enhance cooperation and partnership bilaterally and in various regional and multinational forums on matters of core concern.
A roadmap for future cooperation agenda was also agreed on, including the convening of the next Joint Commission meeting in Tehran.
Read more: Argentine foreign minister likely to visit Bangladesh next March: Momen
UK to strengthen trade, investment, digital economy ties with Bangladesh: Indo-Pacific Minister
British Minister for Indo-Pacific Anne-Marie Trevelyan has said the UK looks forward to continuing to strengthen their bilateral ties with Bangladesh through trade, investment, and people-to-people links.
The British Minister said this during a bilateral meeting with Private Industry and Investment Adviser to Prime Minister Salman F Rahman in London on Monday.
Praising Prime Minister Sheikh Hasina’s generous hosting of the Rohingyas in Bangladesh and sustained efforts to give a better life to the Rohingyas including providing them with education and livelihood, the British Minister reiterated UK’s continued commitment to resolve the Rohingya crisis.
The Minister also discussed creating future partnerships with Bangladesh in the climate and digital economy.
Read more: IFC giving $32.5 million to ensure food security in Bangladesh
Adviser Salman F Rahman briefed the British Indo-Pacific Minister on the leapfrogging of Bangladesh’s growth between 2009 and 2022 under Prime Minister Sheikh Hasina’s pro-business trade and investment initiatives, including with the UK.
In response to a query from the British Minister regarding the strategy behind Bangladesh’s extraordinary growth over the past decade, Rahman said, “It was our Prime Minister’s drive to maximise power production for industry, empowering the women with education and employment, and attaining food security for our 165 million people.”
On an invitation from Adviser Rahman to visit Bangladesh, Minister Trevelyan expressed her interest to visit Bangladesh in February, 2023.
Read more: Envoy urges Bangladeshi businessmen to visit Romania to boost bilateral business ties
Bangladesh High Commissioner to the UK Saida Muna Tasneem was present during the meeting that took place on Monday at the office of the British Minister at the UK Foreign, Commonwealth and Development Office in London.