May 27, 2022

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Bangladesh High Commission in London to form Business Advisory Committee

Bangladesh High Commission in London to form Business Advisory Committee

Bangladesh High Commission in London has decided to form a ‘Business Advisory Committee’ to further increase British businesses here through seizing new opportunities in post-Brexit times.

‘A Business Advisory Committee will be set up by the Bangladesh High Commission, London with Diaspora and mainstream chambers in the UK and Bangladesh to seize new and diversified business, trade and investment opportunities in post-Brexit times’, Bangladesh high commissioner to the UK Saida Muna Tasneem said.

The Bangladesh envoy said the committee would facilitate regular networking and interactions for British-Bangladesh Chambers, entrepreneurs and businessmen with British companies showing growing interest in Bangladesh markets to import, export or invest in Bangladesh.

The high commissioner was speaking at a business dialogue titled, ‘New Business Opportunities in a post-Brexit Britain’ hosted by Bangladesh High Commission, London on Thursday, according to a press release received on Sunday.

Tasneem called upon the chambers to provide real time advice to the high commission on how to complement a sustainable post-brexit and post LDC trade and investment dialogue taking place between the two countries.

She lauded Bangladesh Diaspora’s enterprise and entrepreneurial drive for connecting more British energy, infrastructure and IT sector companies with Bangladesh markets over the past 3 years.

She encouraged the chamber leaders to play a more active role in expanding Bangladesh’s exports to post-Brexit UK and research on UK’s investing in the financial and Fintech, logistics, IT, skills and education services sectors to take advantage of UK’s Points based system.

The dialogue was participated by chairperson of British Business Group in Bangladesh Md Mahbub ur Rahman, chairman, UKBCCI and CEO, Seamark Group Iqbal Ahmed, president, British Bangladesh Chamber of Commerce and Industry Bashir Ahmed and secretary general of Bangladesh Caterers Association Mitu Chowdhury.

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A number of leading British regional chambers, amongst others, Maurits Pot, Founder and CIO and Dawn Global made a brief presentation on Diaspora’s investment opportunities in Bengal Tiger ETF (Exchange-traded Fund).

Speakers at the dialogue stressed the importance of holding industry-based stakeholder discussions, exchanging trade delegations and allowing blue-chip Bangladeshi companies to invest in UK markets to leverage Bangladesh’s economic significance.

They identified certain factors as major barriers to Bangladesh’s success in diversifying its exports and encouraging investment, including absence of policy to bring in green field investment from Bangladesh to the UK, shortages of cold storage and cargo flights for agro products, certification and accreditation issues and one-stop-service window.

They recommended the Bangladesh government to take appropriate steps to remove those barriers.