Staff Reporter :
Hong Kong is predominantly an ideal and important centre for international trades in the Asia-Pacific region and China mainland which enables businesses to tap massive opportunities, experts said.
The existing trade gap between the two countries is also a great opportunity for future business, they said while speaking at a seminar on “Exploring business and investment opportunities for Bangladesh via Hong Kong” organized by Dhaka Chamber of Commerce & Industry (DCCI) and Hong Kong Trade Development Council (HKTDC) jointly at a city hotel on Tuesday.
In 2020 total trade between Bangladesh and Hong Kong was $1.41 billion of which Bangladesh’s import was $1.28 billion and export was $126.7 million.
Speaking at the event, Commerce Minister Tipu Munshi said Bangladesh needs foreign investment, especially in infrastructure, financial, service and manufacturing sector as it is going to be graduated from LDC status.
“Bangladesh has a good demographic dividend, skilled workforce and congenial investment environment. Not only the reformed government has made but it is a continuous process. If any reforms are needed to expedite trade and business, government will do it immediately,” the minister said.
He also said that Hong Kong is a trusted partner for Bangladesh and hoped that more companies of the country will come in Bangladesh in future.
Sharifa Khan, Secretary of Economic Relations Division of Ministry of Finance said that the existing trade gap between Bangladesh and Hong Kong is also a great opportunity for future business.
“If more companies come in Bangladesh, it will help us for technology transfer,” she added.
DCCI President Rizwan Rahmans said, Hong Kong, a market-oriented free economy, is predominantly an ideal and important centre for international finance and trade for the Asia-Pacific region and mainland enabling businesses to tap massive opportunities.
The country, the global business hub, has been the gateway between businesses in China and the outside world and the Asia’s trade-fair and convention hub attracting many international businesses through various timely exhibitions, events and other trade-related events, he said.
It has become one of the trusted top 10 foreign investors in Bangladesh with $1.8 billion investment mainly till date in textile and energy sector and trade reached over $1 billion earlier, he added.
Taking the investment success instance and economic tie into account, Bangladeshi and foreign investors can explore mutual investment and trade opportunities in promising industries via Hong Kong in different parts of the world including China vice versa in the changing economic context, the DCCI president said.
In the keynote paper, Rajesh Bhagat, Consultant South Asia of Hong Kong Trade Development Council (HKTDC), highlighted that Hong Kong has a very simple tax and customs procedures and there are no sales tax and custom tariff.
He also said that Bangladesh is giving good incentive packages to the foreign investors and various reforms by the government will be helpful for foreign investors.
