Business Desk :
Experts at a webinar on Friday observed that the country should focus more on regional trade blocs to attract trade and investments.
They made the observation at the webinar on “Asia and Pacific and Bangladesh: Harnessing Economic Potentials” held on the fourth day of “Bangladesh Trade and Investment Summit 2021.”
Bangladesh is located in a strategic location in the Asia and Pacific and poised to improve its competitiveness to make its vibrant position in this region but the country needs to work more in policy reforms, product diversification, market diversification, business process simplification, competitive tax and tariff regime, infrastructure development to harness the economic potentials, they mentioned.
Secretary to the Prime Minister’s Office (PMO) Md Tofazzel Hossain Miah was the chief guest at the webinar while Economic Relations Division (ERD) Secretary Fatima Yasmin was present as special guest.
Japanese Ambassador to Bangladesh Ito Naoki joined the webinar as the guest of honour while Dhaka Chamber of Commerce and Industry (DCCI) President Rizwan Rahman delivered a power point presentation.
“Bangladesh has a very strategic location in the Asian region. Asia is the new economic frontier now and Bangladesh is a part of it,” Tofazzel Hossain Miah said, adding that Bangladesh is poised to transform in many areas with some commendable achievements.
He said LDC graduation is a sign of Bangladesh’s proven macroeconomic strength and resilience as well as our readiness. “We are trying to uplift the living standards of the vulnerable people,” he added.
He also underscored the importance of sustainable infrastructure. Bangladesh is located in a strategic location close to two big economies like China and India and it is an opportunity for Bangladesh.
Fatima Yasmin said Bangladesh has fastest growing economy in Asia and Covid-led pandemic has hampered our growth momentum though Bangladesh’s economic pace was very smooth.
“Due to adequate policy support, investment in infrastructure, resilient, dynamic and engaging private sector Bangladesh has been able to maintain a sustainable economic growth momentum,” she added.
Rizwan Rahman said the bilateral trade of Bangladesh and Asia and Pacific region hovers around US$36 Billion.
