The upcoming commonwealth trade and investment forum is aimed at promoting trade, investment, and economic growth, fostering partnerships, encouraging innovation, and exploring sustainable and inclusive economic development for Bangladesh.
At the same time, interest rate is likely to increase further in the coming days. And to face this interest rate hike, businessmen preparedness is vital.
Prime Minister’s Private Industry and Investment Adviser Salman F Rahman highlighted the significance of the event during a press conference held at Bangladesh Investment Development Authority (BIDA) in the capital on Thursday. The forum is scheduled to be held from September 13 and September 14.
Addressing various concerns raised by businessmen during the meeting, Rahman said that the government had managed to keep bank interest rates in check for an extended period. However, he stressed that due to increasing interest rates on deposits, maintaining control over interest rates in the future might prove challenging.
He further emphasized the government’s struggles in revenue collection, despite reducing taxes in response to traders’ demands. He urged businessmen to contribute regularly to the country’s development by paying taxes consistently.
During the discussion meeting, business leaders shared the difficulties faced by the country’s business community and reported various issues with the revenue department. In response, Rahman advised FBCCI to collaborate closely with the revenue department to address these crises.
However, about the commonwealth trade and investment forum he said, “The Trade and Investment Forum present an exceptional opportunity for us to increase trade and investment. During the forum, we will showcase our trade and investment opportunities to Commonwealth countries, benefiting all parties involved.”
He also underlined the nation’s remarkable achievements in various socio-economic fields, attributing this success to the dynamic leadership of Prime Minister Sheikh Hasina over the past 14.5 years.
When asked about the forum’s participation, he informed that invitations have been extended to all Commonwealth countries, with countries such as Nigeria, Kenya, Rwanda, and Ghana having already confirmed their attendance. The event will also provide a platform to showcase the country’s growing number of startups in alignment with the vision of a ‘Smart Bangladesh’ and explore topics related to the fourth industrial revolution.
The Commonwealth Trade and Investment Forum is organized by the Commonwealth Enterprise and Investment Council (CWEIC) in collaboration with the Bangladesh Investment Development Authority (BIDA), the Ministry of Foreign Affairs, and the ZI Foundation.
The Commonwealth, consisting of 56 voluntary member countries united by shared values, represents one-third of the global population. Bangladesh became the 34th member of the Commonwealth in 1972, following its independence. This forum promises to be a significant step toward furthering Bangladesh's economic and trade ties with its fellow Commonwealth nations.
