Enhance trade relations with Africa

Country's apex trade body, FBCCI on Wednesday expressed keen interest to further enhance trade relations with African nations, also to attract FDI to Bangladesh from them. Newly elected President of the Federation of Bangladesh Chamber of Commerce and Industries (FBCCI) expressed the willingness in a meeting between the FBCCI leaders and a delegation of National Defense College (NDC), Tanzania.
The meeting took place at the FBCCI headquarters, Federation Bhaban, Matijheel in city.

The business leaders of Bangladesh also expressed their willingness to invest in new sectors in the African region besides the existing RMG and Agriculture. They also want to provide IT related services in the African states. FBCCI President chaired the discussion while the Vice Presidents and the Board Directors of FBCCI attended the meeting.

The NDC delegation was led by Ambassador Peter Kallaghe while representatives from China, Tanzania, Rwanda, Kenya, Botswana and Burundi took part in the discussion. FBCCI President, while addressing, briefed the delegation on the overall economy, the fast track development projects, role of FBCCI as the apex trade body in the policy formation of the Government and the public-private joint initiative in the development process of the country.

A power point presentation on the Introduction, Functions and the Vision 2041 of FBCCI was also made at the program. The meeting discussed issues like emerging economy of Bangladesh, its investment scnerio, investment facilities, banking sector, bank interest rate and bilateral and regional trade.

FBCCI President Sheikh F Fahim said that the private sector of the country is playing a very important role in the economic advancement and the fast growing development process. He said FBCCI has great role to play in the trade related policy formation of the government as Bangladesh enjoys duty free and quota free facility for its export products to USA, Canada, Japan and the EU countries.

"Because of the friendly policy, more than 400 Chinese Companies and 279 Japanese Companies are currently doing business in Bangladesh", he added. The FBCCI Chief said that apart from RMG and agriculture, Bangladesh is in a position to export electronics, FMCG and home appliances to the African countries. Mentioning some recent anomalies in the financial sector of the country, the private sector leader said that the government and private sector is working together on the issue.