British investors invited to invest in EZs

Sun Online Desk

28th August, 2016 10:12:47 printer

British investors invited to invest in EZs

Bangladesh has urged the United Kingdom (UK) to continue duty-free trade facilities once the Brexit issue will be settled and also invited British investors to invest in country’s ‘Economic Zones.’


Foreign Minister AH Mahmood Ali made the request when visiting UK Minister of State for Department for International Development Rory Stewart met him at the state guesthouse Padma on Sunday, UNB reports.


The Foreign Minister underscored development cooperation and trade as key elements for strengthening bilateral relations, according to Foreign Ministry here.


In response to Foreign Minister Ali’s query, the visiting UK minister informed that the British Council is temporarily closed for some physical renovation works and would resume its full-fledged work soon.


During the meeting, the Bangladesh Foreign Minister, while highlighting the historic relationships between Bangladesh and the UK, mentioned that there is huge potential for strengthening cooperation between the two friendly countries.


He also mentioned that the UK has the largest development cooperation worth of US$350 (GBP 217) a year in Bangladesh.


Stewart praised the significant progress Bangladesh has made in socio-economic sector particularly in alleviating poverty, attaining food security, education, health and sanitation and so on.


He also appreciated Bangladesh’s macroeconomic fundamentals such as controlled inflation, stable currency and steady growth over a sustained period.


Mahmood Ali called upon the UK minister to send trade and business delegations when the UK Prime Minister’s Trade Envoy for Bangladesh Rushanara Ali, MP will visit Bangladesh later this year, as it would provide the British businesses to grab the economic opportunities and benefits of competitive business sectors in Bangladesh.


He also highlighted that Bangladesh is in the process of establishing of 100 ‘Economic Zones’ (EZs) in different parts of the country as part of our new plan to industrialise Bangladesh and encouraged the British Minister to convey the British businesses to take that opportunity.


Stewart arrived here on Saturday on a three-day official visit to Bangladesh. He is the first senior level British official visiting Bangladesh after Prime Minister Theresa May formed a new government in the aftermath of Brexit.