Canada can help Bangladesh advance the blue economy: FBCCI






With investment, technical knowledge and assistance from Canada, Bangladesh’s economy can move forward using its marine resources.

The President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Md Jashim Uddin, said so during a virtual meeting of the joint working committee of Bangladesh and Canada on Tuesday.

He said that Canada is one of the best countries in the world when it comes to ocean economy and that the country has the expertise and knowledge to use its marine resources in a sustainable way.

On the other hand, Bangladesh has a 710 kilometer long coastline with an exclusive economic zone of 200 nautical miles inside the Bay of Bengal, he said.

Mr. Jashim Uddin said that the FBCCI will soon submit a sector report on blue economy, plastics and tourism to the working committee.

The previous meeting of the Canada-Bangladesh Joint Working Group identified tourism, ICT, agriculture, agribusiness, education, pharmaceuticals and renewable energy as potential sectors for collaboration.

The FBCCI leader called for further inclusion of the blue economy and the plastics sector.

He pointed out that the joint working committee of Bangladesh and Canada should work together to raise awareness among Canadian entrepreneurs of the huge investment potential in Bangladesh.

“Canadian investors are not yet fully aware of the investment potential and benefits in Bangladesh. Therefore, a joint working committee of the two countries will mark Bangladesh in Canada to enhance investment and trade with Bangladesh,” the head of the apex trade body said.

He said that Bangladesh is now one of the best investment destinations in the region due to its infrastructure, huge domestic market and duty-free facilities in major markets around the world.

FBCCI Director Syed Almas Kabir said he will also submit a report on skills development and information technology at the next meeting of the working committee.

During the meeting, the two sides agreed to strengthen intercommunication between industry associations to remove trade barriers and increase import-export between the two countries.

At the meeting, the entrepreneurs talked about easing Canada’s rules of origin to increase exports of Bangladeshi products, while Canada required visa on arrival in Bangladesh to facilitate trade and investment.

During the meeting, a study report on the outlook for the export sector of leather, leather products and footwear from Bangladesh to Canada was presented by Md Saiful Islam, Director of FBCCI and Chairman of MCCI (Metropolitan Chamber of Commerce and Industry), Dhaka.

Chris Dekker, President, Saskatchewan Trade and Export Partnership (STEP) presented another report on improving two-way trade.

Consumer Health co-founder Nuzhat Tam-Zaman co-chaired the meeting.

The next committee meeting is scheduled for February 7.

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