Business Desk :
The United Kingdom has marked Bangladesh as a “real” spot for intensified trade relations alongside security engagements in prevailing scenario as it reviews 50 years of bilateral ties, said British High Commissioner Robert Chatterton Dickson.
“Investors are always looking for new opportunities . . . the story (of Bangladesh) is a very attractive one,” the envoy told BSS diplomatic correspondent on Saturday, the date coinciding with the golden jubilee of London’s recognition of Bangladesh soon after its 1971 independence.
He said the British entrepreneurs saw “real opportunity” in Bangladesh for doing business, while London was simultaneously keen to build “more” defense cooperation with Dhaka.
Dickson said the UK companies were showing their interest in Bangladesh, eyeing an expanding market here with 30 million consumers in an economy with rapid growth.
“That is a market that they (UK companies) would like to serve, particularly the sort of high value goods and services that British companies are very good at producing,” he said, reports BSS.
Dickson added that the British government was keen about UK businesses enhancing engagement in Bangladesh.
In particular, he pointed out that his country’s standard financial, education, and health services would be highly competitive in Bangladesh.
“We’re (UK) doing more in the defence and security areas as well,” Dickson added.
Despite a “very difficult start” in 1971, Bangladesh’s remarkably resilient, adaptable, creative and intelligent nature drove it to a point that LDC graduation is possibly by 2026, he said.
Bangladesh now needs increased foreign direct investment (FDI) and diversified export basket for that graduation, he stated.
“We’re working with various parts of the government to try to make more attractive the inward investment offer that Bangladesh represents,” he said, but also said he expects Dhaka’s initiative to better the “doing business” index, removing some barriers and obstacles.
Dickson said his country has already extended support to Bangladesh government to address areas such as legal framework and intellectual property protection.
Under a continued trade dialogue in line with Britain’s post Brexit trade policy, the UK by now has decided to continue to provide duty free and quota free access of Bangladesh products. The provision would be in place for at least three successive years after 2026, the expected LDC graduation deadline.
“So, we’re already active and I’m sure we’ll be doing more over the next sort of three to five years,” he added.
Security Cooperation
The High Commissioner said London was currently engaged in a process with Bangladesh to source more military equipment both directly and “through some of the partnerships that we’re involved in”.
Dickson, however, preferred not to elaborate further on the issue, but said “we are looking forward to talks during this year between our defence ministries in some form so we’re working on that in a more sort of structured way”. “We are very happy to work with the (Bangladesh) government on how to make sure that theirs armed forces are fit for the purpose in the 21st century,” he said.
Dickson added that the UK planned to put lots of focus on the Pacific over the next decade and Bangladesh has already appeared as its “very strong partner” in this region.
Bangladesh’s Foreign Minister Dr AK Abdul Momen recently said Dhaka and London in principle agreed that Bangladesh would procure five naval ships from Britain while Prime Minister Sheikh Hasina was in the UK last November. Momen at that time said out of the five ships, three were to be imported from the UK and the rest were to be built in Chattogram dockyard.
When asked for comments on the latest development on the issue, the envoy said “there’s some purchase (of navy ships) that could go through quite quickly”.
However, he said details on the matter were expected to be announced by Dhaka “in due course”. Dickson recalled that many of the early Bangladesh Navy vessels were built in the UK, which now was keen to enable Bangladesh to buy top quality British defence equipment.
Bangladesh launched the “Forces Goal 2030” to improve the capabilities of the Bangladesh Armed Forces while for the Navy, the aim of the program is to transform the service into a modern, well-equipped force that can conduct multi-domain operations.
