Commonwealth Trade and Investment Forum

Leave no stone unturned to attract more foreign investments

Published : 12 Sep 2023 07:56 PM

The two-day ‘Commonwealth Trade and Investment Forum’ begins in the capital Dhaka today. It needs to be mentioned that Commonwealth is a voluntary association of 56 countries united by common values and is a home to one-third of the world's population. Bangladesh joined the Commonwealth as its 34th Member in 1972.

The forum will offer a platform for promoting trade, investment, and economic growth. It aims to foster partnerships, promote innovation, and explore avenues for sustainable and inclusive economic development for Bangladesh.

Since joining the Commonwealth after the independence under the leadership of Father of the Nation Bangabandhu Sheikh Mujibur Rahman, Bangladesh had been an active part of the organization. When Bangladesh joined the Commonwealth, the country was in its infant stage – struggling with a war-torn economy and a ravaged infrastructure in the aftermath of the Liberation War.

Over the time, Bangladesh attained tremendous development on its economic fronts. Under the leadership of Prime Minister Sheikh Hasina Bangladesh is graduating into a middle-income country in 2026. This achievement became possible with the immense hard work of the nation, along with support from its development partners like the Commonwealth members.

Some of the largest trade partners of Bangladesh are Commonwealth members. This forum could be a great opportunity to increase trade and investment for Bangladesh. We hope this forum will help Bangladesh leverage diverse market access opportunities for its products and services within the Commonwealth.

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themselves for their socioeconomic development

The businesses around the world are still not well-aware of Bangladesh’s rapid transformation that took place in the recent years and also about the tremendous opportunities that the “New Bangladesh” offers. Our business bodies will get an opportunity to get connected with the private sector of the Commonwealth countries to promote the government’s “Branding Bangladesh” initiative.

This forum will also assist Bangladesh to enter the mainstream market of its major and highly potential trade partners including the UK, Canada and Australia as well as highlight Bangladesh's remarkable development accomplishments and innumerable potentials among its member states.

Commonwealth countries should strengthen business relations among themselves for their socioeconomic development. Apart from the Commonwealth countries, the member states will have to put emphasis on building strong business relations with non-Commonwealth countries, especially oil-rich Middle East countries such as Saudi Arabia and Qatar.

The Commonwealth must address the vulnerabilities of LDCs, LLDCs, SIDS, and countries with special needs, focusing on areas such as the continuation of their trade-related GSPs beyond LDC graduation, private capital flows and flexible financing for green technology transfer.

This forum would be an important platform to boost trade and investment among the member countries. This is an opportune time for the investors and businesses to grab the opportunity that Bangladesh is offering.