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FBCCI seeks more UK investment

Staff Correspondent
07 Nov 2021 00:00:00 | Update: 07 Nov 2021 00:51:05
FBCCI seeks more UK investment
FBCCI and HSBC recently sign a MoU for joint study on UK and Bangladesh markets to foster the bilateral trade and investment recently – Courtesy Photo

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) in the United Kingdom on Friday, a press release said.

While leading the Bangladeshi Business Delegation at the meeting, the 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 taking an active participation 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, he said.

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.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu said 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.

FBCCI Vice President MA Momen emphasized on strengthening 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, the FBCCI chief along with other members of the delegation had a business meeting with Richard Burge, CEO of London Chamber of Commerce and Industry (LCCI).

At the meeting, it was 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.

In earlier days of the visit as entourage of Prime Minister Sheikh Hasina, Bangladesh Business delegation led by FBCCI President Md Jashim Uddin attended the Bangladesh Investment Summit 2021: Building Sustainable Growth Partnership organized by the Bangladesh Securities and Exchange Commission in London on November 4.

The program was followed by the signing ceremony 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) on the day in London.

FBCCI President also met with Sir Hugo Swire, the vice chairman of Commonwealth Enterprise & Investment Council (CWEIC), where both parties discussed on mutual growth and closer cooperation between the business people of the commonwealth countries.