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Post-LDC Economy

Bangladesh to get support from Commonwealth Council

  • Special Correspondent
  • 24 January, 2022 12:00 AM
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Bangladesh to get support from Commonwealth Council

Commonwealth Enterprise and Investment Council (CWEIC) will help Bangladesh sustain its robust economic growth after graduation from least-developed country (LDC) status.

Samantha Cohen, CEO of Commonwealth Enterprise and Investment Council (CWEIC), made the remarks at a meeting with Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president Md. Jashim Uddin at a hotel in Dhaka on Sunday.

Cohen mentioned that CWEIC will organise a high-level business delegation to Bangladesh later this year.

She requested FBCCI to arrange B2B meetings and factory visits for the delegation to show them the compliance and competitive advantages of the growing sectors of the country.

FBCCI president said the businessmen from other countries are still not well aware of Bangladesh’s rapid transformation that took place in the recent years.

He said the businessmen from different countries are also unaware of the tremendous opportunities that the new Bangladesh offers.

The country’s apex trade body is keen to be connected with the private sector of the Commonwealth countries to promote the government’s “Branding Bangladesh” initiative.

During the meeting, they discussed about various aspects of mutually beneficial cooperation as well as how the Commonwealth platform can be utilised to retain Bangladesh's economic pace during the post-LDC period.

 They also talked about export diversification and exploring markets across the Commonwealth states, collaboration to increase high-skilled workforce and innovation, investment in infrastructures with technology accessibility, streamlining trade facilitation and technical support to strengthen the potential sectors of the country etc. CWEIC will also assist Bangladesh to enter the mainstream market of its major and highly potential trade partners including the UK, Canada and Australia.

The meeting also highlighted Bangladesh's remarkable development accomplishments and innumerable potentials among its member states.

FBCCI is the strategic partner of CWEIC and President of FBCCI Md Jashim Uddin is one of the members of its Advisory Board.

Secretary General of FBCCI Mohammad Mahfuzul Hoque was also present at the meeting.