‘Prospects of UK-Bangladesh trade cooperation is huge’

FBCCI president says at business networking session with BBCCI

Published : 06 Nov 2021 08:54 PM | Updated : 07 Nov 2021 08:24 PM

The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) has called upon the UK businessmen to come forward for the development of trade, investment and economic relations between the UK and Bangladesh.

FBCCI President Md. Jashim Uddin made the call at the Networking Business Meeting with the British Bangladesh Chamber of Commerce and Industry (BBCCI) on Friday in London, said a press release.

FBCCI Chief said that UK and Bangladesh have an excellent bond of friendship which is reflected in partnership and people to people links. 

The Bangladeshi Diaspora in the UK is participating in trade and investment through business and economic collaboration. In the context of the new economic development perspective, there are huge opportunities and prospects for further enhancing the trade and investment cooperation between the two countries.

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He also mentioned that though UK is an important export destination of Bangladesh, but still exports of the country to the UK is concentrated to a few items like knitwear, woven garments, frozen fish and textile items. Bangladesh offers one of the world’s best competitive fiscal and non-fiscal incentives including profit repatriation, tax holiday and duty-free import of capital machinery, he added.

Mostofa Azad Chowdhury Babu, Senior Vice President, FBCCI mentioned that FBCCI and BBCCI may work together in a focused manner to promote our country’s branding and facilitate export diversification, which is a must in the post LDC graduation period. He urged NRB’s to invest in Bangladesh.

M A Momen, Vice President of FBCCI emphasized on strengthening of relationship between FBCCI and BBCCI for business and economic activities. FBCCI as the apex trade body of Bangladesh is always open to facilitate any business interest in Bangladesh, he assured.

On the same day, FBCCI President along with other members of the delegation had a business meeting with Richard Burge, CEO of London Chamber of Commerce and Industry (LCCI).  The meeting also discussed that steps might be taken to sign a MoU between the FBCCI and LCCI under which both can undertake business promotion activities including regular exchange of delegations, business information exchange, joint research, trade fairs and networking events.

As entourage of Prime Minister Sheikh Hasina, Bangladesh Business delegation led by Jashim Uddin, attended the Bangladesh Investment Summit 2021: Building Sustainable Growth Partnership organized by the Bangladesh Securities and Exchange Commission in London on Thursday.

Prime Minister Sheikh Hasina was the chief guest of the program followed by the signing of a Memorandum of Understanding (MoU) between FBCCI and HSBC for joint study on UK and Bangladesh markets to foster the bilateral trade and investment as the sideline program of the Bangladesh Investment Summit 2021: Building Sustainable Growth Partnership.

The FBCCI and UK Bangladesh Catalysts of Commerce and Industry (UKBCCI) renewed Memorandum of Understanding (MoU) in London.

FBCCI President also met Sir Hugo Swire, the Vice Chairman of Commonwealth Enterprise & Investment Council (CWEIC). They discussed mutual growth and closer cooperation between the business people of the commonwealth countries.

Bangladesh business delegation headed by President of FBCCI, attended the 26th UN Climate Conference of the Parties (Cop 26) held at Glasgow, Scotland on Wednesday. Prime Minister of Bangladesh Sheikh Hasina addressed the Conference.

The 29-member trade delegation led by FBCCI President Md. Jashim Uddin also include former FBCCI President Md. Shafiul Islam (Mohiuddin), FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President M A Momen, Md. Aminul Haque Shamim, Md. Amin Helaly, MCCI President Nihad Kabir, FBCCI Director Md. Rejaul Kariem Rejnu, Md. Saiful Islam, Tabarakul Tosaddek Hossain Khan Tito.

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