UK offers support for Bangladesh’s capital market reforms
City Desk :
The United Kingdom has expressed its interest in assisting Bangladesh with reforms in the banking, revenue, and capital market sectors.
UK High Commissioner Sarah Cooke conveyed this interest during a meeting with Finance Adviser Dr Salehuddin Ahmed on Tuesday at his office in the Economic Relations Division (ERD) at Sher-e-Bangla Nagar, reports UNB.
Following the meeting, Dr Salehuddin highlighted the urgency of these reforms for Bangladesh.
“These are very immediate concerns for us because, without these reforms, it will be difficult for us to move forward,” he told reporters.
The discussion also covered the enhancement of trade and commerce between the two countries.
The finance adviser expressed optimism about continued UK support, saying: “We want trade and commerce to flourish.
The UK government has been very helpful in the past, and we look forward to their continued cooperation.” He noted that the UK has been actively involved in Bangladesh’s economic development and women’s empowerment, and these efforts will continue.
He also emphasized the importance of private sector investment, noting significant investments by British companies in Bangladesh.
“I urged them to diversify their import items from Bangladesh, as our exports to the UK and Europe are currently dominated by ready-made garments,” Dr Salehuddin said.
He also stressed the need to improve the business environment to attract more private investment. “We must improve the climate for doing business; otherwise, the private sector will not come.”
British High Commissioner Sarah Cooke described the discussion as “very fruitful,” emphasizing the strong economic, trade, and investment relations between the UK and Bangladesh.
“We are keen to expand our trade and investment ties and support the economic reforms that the Adviser is leading.
We discussed how our experts can collaborate to advance these reforms and strengthen our trade and investment relationships.”
When asked about increasing foreign direct investment (FDI) from the UK, Cooke reaffirmed the strong partnership between the two countries.
“We have a strong investment environment, and of course, we would like to see more FDI in Bangladesh. British investors are responsible, and we discussed ways to build investor confidence and strengthen our trade ties.”
The United States earlier proposed deploying skilled revenue advisers to help Bangladesh expand its domestic revenue base.
The US Department of Treasury expressed its willingness to provide technical assistance for this purpose.