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FBCCI Holds Seminar In Sydney

Seeks Australian investment in potential business sectors

Published : Friday, 31 May, 2024 at 12:00 AM  Count : 286
Business Correspondent
In a high profile seminar in Sydney, Australia hosted by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Bangladeshi business leaders have sought more Australian investment in potential business sector in Bangladesh.

In the seminar on Wednesday FBCCI has proposed signing a Comprehensive Economic Partnership Agreement (CEPA) or a Regional Trade Agreement (RTA) between both the countries to bolster market access and stimulate investments.  

FBCCI has also stressed the importance of creating a direct shipping route between Chittagong and Sydney to reduce logistic costs and enhance competitiveness. Bangladesh apex business body has also reaffirmed its commitment to providing all support to Australian investors to set up businesses in Bangladesh.

FBCCI Vice President Dr Joshoda Jibon Deb Nath made the call in the seminar titled, "Strengthening Bilateral Trade and Investment between Bangladesh and Australia," held at the Four Seasons Hotel in Sydney, says a press release.

FBCCI arranged the seminar in association with the High Commission of Bangladesh in Canberra and supported by the Consulate General of Bangladesh in Sydney.

Addressing the seminar, Dr. Joshoda J. Deb Nath emphasized the potential for enhanced Bangladesh-Australia cooperation across key sectors, including pharmaceuticals, IT services, agricultural technology, renewable energy, and education. He added that vast untapped potential remains in our economic and business relations.

Highlighting the untapped opportunities for Australian investors in Bangladesh, Joshoda. J. Deb Nath invited the Australian counterparts to enhance trade and investment between both the countries, including skill, technology, and knowledge sharing.

Dr.Joshoda, J. Deb Nath proposed a joint research and development fund for biotechnology, ICT, and renewable energy, as well as vocational training programs and education to drive innovation and economic growth.

Collaboration in mining technology will enable Bangladesh to utilize its untapped mineral resources more efficiently and safely with Australian expertise.

Enhanced higher education partnerships, including scholarships, joint degrees, and vocational training centers, will elevate skills in mining, IT, and agriculture, he added.

FBCCI Secretary General Md Alamgir highlighted the business environment and opportunities in Bangladesh and the incentives provided by the Government for foreign investors.

Minister for Small Business, Land, and Property of New South Wales (Australia), Stephen Kamper, stressed the advantages of doing business in Australia. He highlighted the opportunities and potentials for setting up businesses in NSW and encouraged Bangladeshi investors to invest in Australia.

Speakers highlighted several potential sectors in Bangladesh which hold significant potential for Australian enterprises. Presentations on sectors such as Garments and Textile, Plastic, Leather and Leather Goods, Jute and Jute Goods, and Pharmaceuticals were made by Bangladeshi business leaders.

Among others, Sophie Cotsis, MP, Minister for Industrial Relations of New South Wales (TBC), M Allama Siddiki, High Commissioner of Bangladesh to Australia, New Zealand, and Fiji, Sarah Storey, First Assistant Secretary of South and Central Asia Division, Department of Foreign Affairs and Trade (TBC) were present.

FBCCI Director Md Rakibul Alam (Dipu), Mir Nizam Uddin Ahamed, Priti Chakraborty, Hafez Hazi Harun, Rashid, Kausar Ahmed, Syed Md Bakhtiar, Mohammad Aftab Jabed, and other business dignitaries of Bangladesh and Australia also attended the seminar.



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