Bangladesh-Canada FIPA could boost business confidence: Minister Hussen

Minister of International Development of Canada Ahmed Hussen today (10 February) said businesses in Canada will feel encouraged if the Foreign Investment Promotion and Protection Agreement (FIPA) is signed with Bangladesh.

Canada welcomed its engagement with Bangladesh to continue technical discussions towards a FIPA to expand trade and investment ties between the two countries.

"Businesses in Canada will feel encouraged if FIPA is signed. They will see it as a signal," the Canadian minister told Chief Adviser Prof Muhammad Yunus when he called on the Chief Adviser at the Chief Adviser's Office in Tejgaon.

Canadian High Commissioner in Dhaka Ajit Singh and senior secretary and SDGs Affairs Principal Coordinator Lamiya Morshed were also present.

The Chief Adviser urged Canada to relocate their manufacturing factories to Bangladesh and make the country a production hub, taking advantage of Bangladesh's youth forces.

He also requested the Canadian minister to expedite the visa process for Bangladeshi students.

Responding to the Chief Adviser's call, the Canadian minister said they would welcome any legitimate student from Bangladesh and that the country's recent decision to reduce the number of student study permits had not particularly targeted Bangladeshis. 

"We did cut visas. But there is nothing against Bangladesh. Any legitimate student from Bangladesh is welcome."

The Chief Adviser sought Canada's assistance again for bringing back stolen money from Bangladesh.

"There is a whole area called Begum Para, where family members of corrupt people are living .We are working hard to get rid of corruption, as corruption is everywhere," he added.

Assuring Bangladesh of the Canadian government's assistance, the Canadian minister said, "We don't want corrupt money, plundered public money in Canada," said Minister Hussen.

During the meeting, the Canadian Minister reiterated the support of his government for Bangladesh's Interim Government. 

"I know the people of Bangladesh are looking to you and your team to fulfil their hopes and expectations," he said.

The Chief Adviser and the Canadian minister also discussed the ongoing reform initiatives in Bangladesh, the upcoming general election, and the plight of Rohingya refugees from Myanmar.

Canadian international development minister call on foreign adviser

Ahmed Hussen, minister of International Development of Canada, held a courtesy meeting today with Foreign Adviser Md Touhid Hossain at the Ministry of Foreign Affairs in Dhaka. 

The High Commissioner of Canada to Bangladesh was also present at the meeting, which included officials from the Ministry of Foreign Affairs, delegates from the Government of Canada, and representatives from the High Commission of Canada in Dhaka.

The discussions focused on strengthening the strong partnership and cooperation between the two friendly countries across various domains, including trade, investment, capacity building, skill development, technical assistance, agriculture, and people-to-people connections. 

Visiting Minister Hussen commended the ongoing reform initiatives and reiterated Canada's steadfast support for the Government of Bangladesh under the leadership of Professor Muhammad Yunus.

Acknowledging the commendable contributions made by the Bangladeshi community in Canada, Minister Hussen expressed a strong desire to enhance collaborative ties between the two countries. 

Highlighting the existing strong relations between the two countries, the Foreign Adviser expressed gratitude to the Government of Canada for its continued support in economic and development initiatives.

The two Ministers held thorough discussions on several significant areas of shared interest, including trade and investment prospects, labor reforms, advancements in the financial sector, collaboration in the health sector, and humanitarian support for the forcibly displaced Rohingya population.

The Foreign Adviser emphasised the considerable challenges that Bangladesh faces in accommodating the Rohingya community and stressed the importance of facilitating sustainable repatriations of the forcibly displaced Rohingyas. 

Visiting Minister commended Bangladesh's significant humanitarian contributions and expressed Canada's commitment to advocating for the repatriation of Rohingyas in international forums. 

The Foreign Adviser thanked the Government of Canada for its ongoing support regarding this matter of regional and global significance. He also requested the Government of Canada to explore the possibility of collaboration at the upcoming international conference on the Rohingya issue, scheduled for the middle of this year.

Both Ministers agreed to finalise the Foreign Investment and Protection Act in order to create a conducive environment and encourage Canadian investors to explore trade and investment opportunities in the near future.