Ontario, Canada (CU)_ Bangladesh will be branded in Canada by the Canada-Bangladesh Joint Working Group in order to increase bilateral commerce and investment between the two nations. According to a press statement, the committee’s nominated members discussed the initiative during the virtual meeting. The conference was organized by Md Jashim Uddin, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), and Nuzhat Tam-Zaman, Co-Founder and Vice Chairman of Consumer Health.
According to the committee members, with the growing economy, more opportunities for foreign investment have opened up in Bangladesh. Due to the country’s developed infrastructure, large domestic market, and global duty-free status, it has become one of the region’s finest investment locations.
During the previous conference of the Canada-Bangladesh Joint Working Group, tourism, ICT, agriculture, agri-food, education, pharmaceuticals and renewable energy were highlighted as priority areas for cooperation. Md. Jashim Uddin, President of the FBCCI, urged for a reintroduction of the blue economy and plastics sector during the meeting. According to the FBCCI Chief, Canada is one of the top countries in the world in ocean economy.
He spoke about the marine resources of Bangladesh. He added, “The country has the expertise and knowledge to use its marine resources in a sustainable manner. On the other hand, Bangladesh has a 710 km long coastline with an exclusive economic zone of 200 nautical miles inside the Bay of Bengal. But most of the resources are untapped. With Canadian investment, technical knowledge and assistance, Bangladesh’s economy will move forward by utilizing its marine resources”.
According to the president, the FBCCI would shortly present a sector-by-sector report to the working committee on the blue economy, plastics, and tourism. During the next meeting, FBCCI Director Syed Almas Kabir will also present a report on skills development and information technology. The two parties agreed to promote inter-industry cooperation in order to eliminate trade barriers and boost import-export between the two nations.
The entrepreneurs discussed simplifying Canada’s Rules of Origin in order to boost exports of Bangladeshi products, while Canada has requested an on-arrival visa service in Bangladesh in order to encourage commerce and investment. Md Saiful Islam, Director of FBCCI and President of MCCI, delivered a study report on Bangladesh’s leather, leather products, and footwear export business in Canada during the meeting. Chris Dekker, President of the Saskatchewan Trade and Export Partnership (STEP), delivered another report on enhancing bilateral trade. The committee’s next meeting is set on February 7, 2022.
