Dhaka eyes foreign investment in farm sector

As an international agri invest fair begins in Dhaka tomorrow, Bangladesh eyes foreign expertise and investment in farm sector.

As agriculture is the lifeline of the country's economic growth, the upcoming exposition is aimed at exploring new avenues in this sector, State Minister for Agriculture Mirza Fakhrul Islam Alamgir said yesterday.

The state minister was addressing a press conference prior to the three-day fair, Agri-Invest 2003 Bangladesh, which begins at the Bangladesh-China Friendship Conference Centre.

Prime Minister Khaleda Zia is expected to inaugurate the exhibition.

The Ministry of Agriculture, Board of Investment (BoI) and SouthAsia Enterprise Development Facility (SEDF) will jointly organise the exhibition.

The government intends to enhance value addition to agro-products for higher growth by applying bio, hydro and organic technologies in agro-processing system, said BoI Executive Chairman Mahmudur Rahman, who was also present at the press briefing.

During the current fiscal, the BoI targets US$400 million investment in the agricultural sector, Rahman said replying to a question.

In the last fiscal, the domestic investment in agriculture rose by 42 per cent, he said.

The exhibition, the first of its kind in Bangladesh, aims at drawing potential foreign investors and new technologies in the farm sector, said SEDF General Manager Anil Sinha.

Ten countries -- Bangladesh, Denmark, Taiwan, Thailand, Malaysia, Norway, India, Switzerland, Italy, and the United Kingdom -- will take part in the exposition.

The countries will display their agro-expertise in 67 stalls in the exhibition.

The exhibition will showcase commercially and environmentally viable processing method of agro-products like fruits, vegetables, spices and medicinal and herbal plants, eco-forestry, food safety, aquaculture, dairy and poultry, and organic farming and bio-fertiliser.