Improve ease of doing business for more trade
The UK wants Bangladesh to improve the ease of doing business and governance as it looks to have a stronger trade and investment partnership with the country, a British lawmaker said yesterday.
"Good governance is an important framework where our businesses operate," British Prime Minister's Trade Envoy for Bangladesh Rushanara Ali told journalists at a briefing at the British high commission.
She began a week-long visit to Bangladesh yesterday and held meetings with the officials of the Bangladesh Investment Development Authority (BIDA) and the Bangladesh Securities and Exchange Commission.
She is scheduled to meet with the officials of the commerce, foreign, and education ministries and the Prime Minister's Office.
Ali said she is eager to boost trade with Bangladesh and create awareness among UK companies about Bangladesh, a rising economy and a large market. The areas of investment are varied and include finance, banking, education, and services.
"We want to make sure that our trade partnership creates more jobs. The economic growth also needs to be inclusive and that people are not left behind."
Asked about the challenges British companies face in Bangladesh when it comes to making investments, she said legal and bureaucratic procedures need to be simpler. At the same time, the UK also considers the issues of human rights and democracy as they build trade partnerships.
After meeting Prime Minister's Private Industry and Investment Adviser Salman F Rahman, the envoy said Bangladesh is maintaining a strong relationship with the UK and the trade ties between the two countries is very important.
"I want to see more trade and investment relationships with Bangladesh ... There are many areas to work together," she said, adding that many British companies have expressed interest to run businesses in Bangladesh.
Salman F Rahman said the government is working to ensure a congenial business atmosphere. This is a continuous process, reports BSS.
"We have already introduced a one-stop service centre through the BIDA. We are also providing digital online services. The environment is improving gradually," he added.
He also mentioned Rushanara's point of view about the situation at the Hazrat Shahjalal International Airport as it is the entry point for foreign investors.
"I informed her that we are constructing the third terminal to ensure international standard airport services and the construction work of the terminal will be completed by next year."
British High Commissioner to Bangladesh Robert Chatterton Dickson, among others, also attended the meeting.