Business Desk :
A Bangladesh-Austria Business Dialogue was held on Wednesday organized by BUILD and Advantage Austria at MCCI conference room to discuss about the potential of more business and investment between these two countries.
Business opportunities in Bangladesh and priorities of present government, a presentation was made by Secretary of Commerce Ministry Md. Mofizul Islam, which highlighted existing trade value between these two countries where the difference between trades volumes came up largely, said a press release.
It was mentioned that as per ITC trade map 2016-17 bilateral trade between Austria and Bangladesh is $787 million as export from Bangladesh and $82 million as import but as per EPB data, export from Bangladesh in 2017-18 $30.6 million and import $80.6 million (as per Bangladesh Bank). A lot of good are re-exporting within EU country that could be the reason of trade statistic gap. Exact scenario need to be explored. It was discussed that there is a need for some detail research is needed in that respect to understand the gaps. The presentation elaborates some opportunities and identified sector of FDI.
As a panelist, Osama Taseer, President DCCI, mentioned that Bangladesh is a gateway for Asia and Southeast Asia through quality RMG and automotive sector can be explored in Bangladesh with service sector is one of the area.
Another presenter Kamrul Islam recommended for some of High-tech engineering sector, ICT, Agricultural products are some common areas for collaborate. He also emphasized on the skill development program.
In the open session entrepreneurs referred several sectors to join a collaboration of which water sector, glass fiber, modernization of light engineering sector and tanning. It was also underscored that 60 percent of GDP Austria is coming from trade and they depends largely on outsourcing. Bangladesh could be a country of enormous manpower and high tech people could be outsourced.
Chief Guest of the programme Kazi M Aminul Islam, Executive Chairman of BIDA highlighted the role of Austria regarding business and said that Austria economy is one of the modern economies. He also said that Bangladesh needs to be capable of trillion dollar GDP to be graduated to be developed soon when per capita GDP could be at least $1500. So we need a different type of collaboration like Austria. Present global trend China-US war has — soon unique feature to identify Bangladesh to be a single most investment destination of the world. Attributing quality of the people of the country he said. Bangladesh is the most handlers of disaster management and most resilient country. And country has got huge number of educated and easily trained people. World is aging gradually. He refereed that Bangladesh government and Bangladesh is ready to welcome investor Industries to invest in identified sectors and Ministry of Commerce is here to extend all the support.
A Bangladesh-Austria Business Dialogue was held on Wednesday organized by BUILD and Advantage Austria at MCCI conference room to discuss about the potential of more business and investment between these two countries.
Business opportunities in Bangladesh and priorities of present government, a presentation was made by Secretary of Commerce Ministry Md. Mofizul Islam, which highlighted existing trade value between these two countries where the difference between trades volumes came up largely, said a press release.
It was mentioned that as per ITC trade map 2016-17 bilateral trade between Austria and Bangladesh is $787 million as export from Bangladesh and $82 million as import but as per EPB data, export from Bangladesh in 2017-18 $30.6 million and import $80.6 million (as per Bangladesh Bank). A lot of good are re-exporting within EU country that could be the reason of trade statistic gap. Exact scenario need to be explored. It was discussed that there is a need for some detail research is needed in that respect to understand the gaps. The presentation elaborates some opportunities and identified sector of FDI.
As a panelist, Osama Taseer, President DCCI, mentioned that Bangladesh is a gateway for Asia and Southeast Asia through quality RMG and automotive sector can be explored in Bangladesh with service sector is one of the area.
Another presenter Kamrul Islam recommended for some of High-tech engineering sector, ICT, Agricultural products are some common areas for collaborate. He also emphasized on the skill development program.
In the open session entrepreneurs referred several sectors to join a collaboration of which water sector, glass fiber, modernization of light engineering sector and tanning. It was also underscored that 60 percent of GDP Austria is coming from trade and they depends largely on outsourcing. Bangladesh could be a country of enormous manpower and high tech people could be outsourced.
Chief Guest of the programme Kazi M Aminul Islam, Executive Chairman of BIDA highlighted the role of Austria regarding business and said that Austria economy is one of the modern economies. He also said that Bangladesh needs to be capable of trillion dollar GDP to be graduated to be developed soon when per capita GDP could be at least $1500. So we need a different type of collaboration like Austria. Present global trend China-US war has — soon unique feature to identify Bangladesh to be a single most investment destination of the world. Attributing quality of the people of the country he said. Bangladesh is the most handlers of disaster management and most resilient country. And country has got huge number of educated and easily trained people. World is aging gradually. He refereed that Bangladesh government and Bangladesh is ready to welcome investor Industries to invest in identified sectors and Ministry of Commerce is here to extend all the support.
