Bangladesh (Commonwealth Union)_ The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Commonwealth Enterprise and Investment Council (CWEIC) have announced their intention to collaborate more closely to boost trade between Bangladesh and Commonwealth countries. FBCCI President Mahbubul Alam extended an invitation to CWEIC to support the expansion of textile, pharmaceutical, and agricultural exports to Commonwealth nations during a dinner meeting held in honor of Lord Marland, Chairman of CWEIC.
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During the meeting, FBCCI President Mahbubul Alam highlighted Bangladesh’s emergence as an appealing investment destination for industry diversification, value chain integration, and market expansion in his remarks. He noted that Bangladesh had surpassed $55.55 billion in exports in FY 2022-2023, indicating a trajectory towards the country’s trillion-dollar economic journey by 2041, with a target export value of US$ 300 billion. The dinner meeting was also attended by FBCCI Vice President Md. Khairul Huda Chopol, Shomi Kaiser, Md. Munir Hossain, Strategic Advisor of CWEIC Zillur Hussain MBE, FBCCI Director Sujib Ranjan Dash, Secretary General Md. Alamgir, and other business dignitaries.
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Further, Alam emphasized FBCCI’s commitment to championing the interests of the business community, promoting trade, industry, and sustainable economic growth. He underscored efforts to create a business environment that is not only robust domestically but also competitive globally. He added, “We are working on fostering a business environment that is not only robust within Bangladesh but also competitive on the global stage”. Regarding Bangladesh’s collaboration with CWEIC and participation in the Commonwealth Business Forum, Alam highlighted the opportunities for local businesses to demonstrate Bangladesh’s potential in various sectors and its aspirations for national development.
Alam also outlined potential areas of collaboration with CWEIC, including technology transfer, innovation, IT, renewable energy, education, healthcare, pharmaceuticals, and SME finance. He said, “We can collaborate in different sectors like technology transfer and innovation, IT, renewable energy, education and skills development and vocational training, healthcare and pharmaceuticals, and access to finance for SMEs”.
Lord Marland, Chairman of CWEIC, commended Bangladesh’s economic progress and expressed confidence in the country’s trajectory towards becoming a ‘Smart Bangladesh’ by 2031. He pledged CWEIC’s commitment to working closely with FBCCI to further enhance trade and investment between Bangladesh and Commonwealth countries. He stated, “Everyone is talking about Bangladesh’s economic growth. I believe the country will be a ‘Smart Bangladesh’ by 2031, 10 years before the assumed time. CWEIC will work closely with FBCCI to further bolster trade and investment and explore the untapped potential between Bangladesh and the commonwealth countries”.
