UK wants level-playing field for foreign cos in Bangladesh
The UK has urged Bangladesh to maintain a level-playing field for foreign companies interested in investing and operating in Bangladesh, a release said.
The country also invited Bangladesh to engage with the UK private sector to pursue a commercial dispute resolution system to unlock the full potential of foreign direct investment (FDI) into Bangladesh.
"A conducive business climate and removal of market access barriers will benefit both countries and underline the great opportunities for UK businesses," UK Trade Commissioner for South Asia Alan Gemmell OBE told the second Bangladesh–UK Trade and Investment Dialogue held on Sunday in Dhaka.
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Commerce Secretary Tapan Kanti Ghosh represented the government while British High Commissioner Robert Chatterton Dickson, and Alan Gemmell OBE were present. Both countries agreed to convene the dialogue annually and its joint working group regularly.
Alan Gemmell said, "The UK and Bangladesh relationship is underpinned by the potential of our trade and investment relationship that will help both our economies to grow. Foreign direct investment builds the foundation to provide jobs, transfer skills, generate revenue, create competition and drive standards higher".
The UK encouraged Bangladesh to explore investment opportunities for the UK services sector including financial and professional services. Bangladesh reiterated the importance of the ready-made garments sector to both the UK and Bangladesh, the release said.
It added that the UK outlined the private sector led aerospace offer to Bangladesh. Both countries recognised the importance of high-quality education and agreed to further deepen and widen the scope of collaboration in the area of higher education for mutual benefit.
The UK stressed the importance of Bangladesh putting in place economic policies and systems to achieve its ambition of rapid, sustainable and green economic development; and pledged its ongoing cooperation, the release added.
Tapan Kanti said, "Bangladesh is keen to take this relationship to a new height through enhanced trade and economic cooperation. I believe today's dialogue contributes to increasing trade and investment in both countries."
