Rushanara hails economic progress, wants enhanced partnership with UK

UK Prime Minister’s Trade Envoy Rushanara Ali, MP on Tuesday said Bangladesh has achieved tremendous success in the socio-economic sector.

She noted that public and private sector- coordination is much needed for the continuation of this progress.

Ali also said that private sector development and trade expansion are the real growth drivers for Bangladesh’s economy.

“Urging enhancing bilateral partnership between UK and Bangladesh, she also said that removing bottlenecks will open up more investment opportunities here, we have to ensure poverty alleviation in line with the economic growth,” the UK PM’s trade envoy said.

She made the call while speaking at a bilateral meeting with the business leaders of Bangladesh at the Dhaka Chamber of Commerce & Industry (DCCI), held at DCCI’s Gulshan Centre on Tuesday.

The meeting was chaired by the President of DCCI Rizwan Rahman where Miran Ali, Vice President, BGMEA, Sonia Bashir Kabir, Founder and Managing Director of SBK Tech Venture, Group Chairman and Managing Director of United Group Moinuddin Hasan Rashid and Managing Director of Apex Group Syed Nasim Manzur also took part in the discussion.

In the meeting Rizwan Rahman said that the bilateral trade between Bangladesh and UK was USD $ 4.11 billion in 2021. The UK’s net FDI stock in Bangladesh was about $ 2.53 billion and the UK is the 3rd largest export destination for Bangladesh and in future it will grow further.

Rizwan Rahman invited British investments in the ship building, RMG, agro-processing, leather and footwear, light engineering and skills development sector of Bangladesh.

Bangladesh will enjoy duty free, quota free facility in the UK up to 2029 but DCCI president requested to allow Bangladesh to continue this facility even after 2029.

Rizwan also said that the Rules of Origin requirement facility can be eased and extended. Technical Barriers to Trade (TBT) needs to be reduced and rationalized, he added.