DHAKA, Feb 14, 2024 (BSS) - The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Commonwealth Enterprise and Investment Council (CWEIC) will work more closely to enhance trade between Bangladesh and the Commonwealth countries.

The FBCCI invited CWEIC to help expand exports of textiles, pharmaceuticals, and agriculture goods to the commonwealth countries.

FBCCI President Mahbubul Alam made this call while hosting a dinner meeting yesterday in honour of Lord Marland, Chairman of the Commonwealth Enterprise and Investment Council (CWEIC), said a press release today.

FBCCI President Mahbubul Alam said that Bangladesh is becoming an attractive investment hub for industry diversification, integration of industry value chain and export market expansion.

He said Bangladesh has crossed the milestone of $55.55 billion in exports in FY 2022-23. "Following this trend, we are working to develop competitiveness to achieve the trillion dollar journey of our economy and to earn our target export worth of US$ 300 billion by 2041."

He said the FBCCI is proud to stand as a beacon for the business community in Bangladesh, advocating the cause of trade, industry, and sustainable economic development.

"We're working on fostering a business environment that is not only robust within Bangladesh but also competitive on the global stage," he added.

Mahbubul said that Bangladesh's collaboration with the Commonwealth Enterprise and Investment Council, and engagement in the Commonwealth Business Forum, has enabled the local businesses to showcase the potential of Bangladesh's business sector, national development and prosperity.

 He said, the CWEIC can play a crucial role in opening doors for Bangladeshi products in global Commonwealth markets, particularly highlighting our strengths in textiles, pharmaceuticals, and agriculture.

"We can collaborate in different sectors like Technology Transfer and Innovation, IT, renewable energy, Education and Skills Development and vocational training, Healthcare and Pharmaceutical and access to finance for SMEs," Mahbubul added.

 The Chairman of the Commonwealth Enterprise and Investment Council (CWEIC) Lord Marland praised the development of Bangladesh in recent years.

 Lord Marland said, "Everyone is talking about Bangladesh's economic growth. "I believe the country will be a 'Smart Bangladesh' by 2031, 10 years before the assumed time. CWEIC will work closely with FBCCI to further bolster the trade and Investment and explore the untapped potential between and the commonwealth countries," he added.

Vice President of FBCCI Md. Khairul Huda Chopol, Shomi Kaiser, Md. Munir Hossain, Strategic Advisor of Commonwealth Enterprise & Investment Council Zillur Hussain MBE, FBCCI Director Sujib Ranjan Dash, Secretary General Md. Alamgir and business dignitaries were present at the program.