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FBCCI wants Canada’s support in exploring marine resource

Staff Correspondent
26 Jan 2022 16:19:49 | Update: 26 Jan 2022 16:39:39
FBCCI wants Canada’s support in exploring marine resource
A screenshot of the Canada-Bangladesh Joint Working Group's webinar on Tuesday — Courtesy Photo

Praising Canada’s flourishing blue economy, experts at a webinar on Tuesday said Bangladesh will benefit much by utilising its marine resources with Canadian investment, technical knowledge and assistance.

The observation was made at a virtual programme of the Canada-Bangladesh Joint Working Group, said a press release on Wednesday.

Nominated members of the governments of Bangladesh and Canada joined the programme to discuss forming a joint working committee to brand Bangladesh in Canada for enhanced investment and trade.

Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Jashim Uddin and Cofounder and Vice Chairman of Consumer Health Nuzhat Tam-Zaman jointly chaired the meeting.

Jashim Uddin mentioned at the webinar that Bangladesh has a 710km-long coastline with an exclusive economic zone of 200 nautical miles inside the Bay of Bengal. Yet, most of the marine resources remain untapped.

"With Canadian investment, technical knowledge and assistance, Bangladesh's economy will move forward by utilising its marine resources. FBCCI would soon submit a sector-wise report on the blue economy, plastics and tourism to the working committee," he added.

He also added that with the development of the economy, new potentials for foreign investment have opened up in Bangladesh.

"The country is now one of the best investment destinations in the region due to its infrastructure facilities, huge domestic market and duty-free facilities in the major markets of the world."

"However, Canadian investors are not yet aware of this advantage. Therefore, a joint working committee of the two countries will be formed to brand Bangladesh in Canada to strengthen investment and trade with Bangladesh," Jashim pointed out.

Canada-Bangladesh Joint Working Group stressed on strengthening commercial relations to brand Bangladesh in Canada to boost bilateral trade and investment as Canada has the expertise and knowledge to use its marine resources in a sustainable manner, they also added.

The committee members also identified tourism, ICT, agriculture, agri-food, education, pharmaceuticals and renewable energy as potential sectors for collaboration.

Consumer Health Vice Chairman Nuzhat Tam-Zaman said the two sides agreed to strengthen inter-communication between industry associations to remove trade barriers and increase import-export between two countries.

Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) President Md Saiful Islam presented a study report on the prospects of Bangladesh’s leather, leather products, and footwear export sector in Canada.

At the meeting, the entrepreneurs talked about making Canada's Rules of Origin easier to increase exports of Bangladeshi products, while Canada demanded on-arrival visa facility in Bangladesh to facilitate trade and investment.

President of Saskatchewan Trade and Export Partnership (STEP) Chris Dekker presented a report on bilateral trade enhancement.

FBCCI Director Syed Almas Kabir will also submit a report on skills development and information technology at the next meeting scheduled to be held on February 7, 2022.

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