A Great Successful Trade mission ended with a Final meeting with the Prime Minister of Bangladesh Mrs Sheikh Hasina on the 9th of October 2011.
The meeting with the WBCC board members and the Prime Minister Sheikh Hasina was a great success. Prime Minister was delighted to see the deligation and spoken highly about the initiative taken by the WBCC and the Wales Assembly Government - WAG. The meeting last about an hour and the board members discussed various aspect of their interest how they want to invest in Bangladesh and want to make better links between Wales and Bangladesh. The Prime Minister has agreed upon providing full support from her government and welcomes any investment in Bangladesh. Prime Minister also been invited to officially visit Wales with a deligation in near future. The meeting ended with photo session and one to one conversation with the Prime Minister and her officials.
Wales Bangladesh Chamber wants to explore investment opportunities
The Wales Bangladesh Chamber of Commerce (WBCC) wants to explore the investment opportunities in Bangladesh as well as to establish a platform for boosting trade relations between Wales and Bangladesh.
“We want to have activities in Bangladesh and encourage Welsh entrepreneurs to invest in Bangladesh,” said WBCC chairman Dilabor Hussain at a press conference at a city hotel Sunday morning.
British deputy high commissioner in Dhaka Nick Low, WBCC secretary Mabs Noor and other members of the visiting WBCC delegation were present.
The Wales Bangladesh Chamber president said that they want Welsh Bangladeshis to invest in Bangladesh in a bid to make a platform for the two countries.
“We also want to promote Bangladeshi business come to Wales and invest,” he added.
The Wales Bangladesh Chamber of Commerce (WBCC) delegation arrived in the capital on Saturday on a week-long visit to Bangladesh.
Asked about the main challenges for investing in Bangladesh, the Wales Bangladesh Chamber secretary Mabs Noor said they do not want to look at the challenges rather at the opportunities, mentioning the growing economy of Bangladesh.
Citing Wales businesses in engineering, ICT, manufacturing and medical sector, Mabs Noor said their objective is to raise the trading opportunities as well as to do joint venture to limit risk while investing in Bangladesh.
Mentioning the volume of trade between Wales and Bangladesh as very low, the WBCC secretary said that they are here in Bangladesh for boosting the trade volume between the countries.
It may be mentioned that the United Kingdom is the largest cumulative investor in Bangladesh and the largest annual investor since 2006. In the last fiscal, UK’s exports to Bangladesh totaled 80 million pounds compared to imports of 723 million pounds.
Replying to another question, Chris Connors, business development manager of Broadcrwon Ltd (power generator), said they see Bangladesh as a stable country with a credit rating of BB status. “As far as the global economy is concerned, Bangladesh is a safer place to do business.”
Without mentioning any specific investment plan of the delegation, he said they are willing to find the right pattern of investment, especially in the power sector.
Asked about their interest of possible investment in the country’s renewable energy, Cath Peasley, project development manager of Solar Dulas Ltd, said there is a unique opportunity for looking forward, not just to generate trade, but also to find the way for future investment.
Established in 1998 to promote trade relations between Bangladesh and Wales (in UK), the trade mission will pay courtesy call on Industries Minister Dilip Barua, PM’s Energy Adviser Dr. Towfique-e-Elahi Chowdhury and leaders of Dhaka Chamber of Commerce and Industry (DCCI).
The WBCC delegation will also travel to Chittagong to meet leaders of Chittagong Chamber of Commerce & Industry (CCCI) and then to Sylhet to meet leaders of Sylhet Chamber of Commerce and Industry.
News from Jenny Rathbone AM
Labour Assembly Member for Cardiff Central
***For Immediate Release: Wednesday 10 August 2011***
First Welsh Bangladesh Trade Mission launched
The first official Welsh trade mission to Bangladesh was launched at an event held in the Senedd yesterday. The trade mission will see a delegation of business representativestravelling to Bangladesh to improve trade links between the two countries.
The event was arranged by Welsh Labour’s Cardiff Central AM Jenny Rathbone and the Wales Bangladesh Chamber of Commerce. Attendees included the High Commissioner for Bangladesh, Finance Minister Jane Hutt, Former first Minister Rhodri Morgan, Assembly Member Julie Morgan and MP Alun Michael as well as many representatives from Welsh and Bangladeshi businesses.
The trade mission has been organised by and the Welsh Bangladesh Chamber of Commerce (WBCC) with support from the Welsh Government. This trade mission has been noted to be different from that previously undertaken in other parties of the world as this mission is entirely funded by WBCC members and the participating companies. It is estimated that over £40k will be spend in promoting Wales in these time of austerity. The WBCC also hopes to promote their ‘Trading Partnership Initiative’, this is where ethnic entrepreneurs join our Welsh Companies on a joint venture basis to reduce risk of investment in a emerging economy. WBCC members will visit the Bangladeshi capital Dhaka as well as Chittagong and Sylhet between the 23rdand 30th September. The delegation, that includes representatives from solar power companies, power generator companiesand from a Welsh University, will meet over 100 business investors at a reception hosted by the British High Commissioner in Dhaka. There also will be a number of high level government meetings and final a meet the mission activities which will invite decision makers of Bangladeshi organisation to encourage them to develop trading relationship with Welsh Companies and Wales.
Welsh Labour’s Cardiff Central AM Jenny Rathbone said:
“Bangladesh has a population of 160 million compared with 3m in Wales and their economy is expanding at 6% per year. This offers huge trade incentives for Wales.
The trade mission will help Welsh businesses and Welsh Bangladeshi entrepreneurs to build on the trade links already established between the two countries and develop new and improved international business relationships.
I would strongly encourage local businesses to take advantage of the resulting strengthened links with Bangladesh.”
Finance Minister Jane Hutt said, “The Welsh Government backs this historic mission which will hopefully be the first of many. We can share with Bangladesh our experience of education, health and social welfare, tourism and other businesses and hopefully learn from the Bangladeshi experience.”
His Excellency Dr. Sayeedur Rahman Khan, High Commissioner for Bangladesh added “I want to congratulate the young entrepreneurs in Wales who have had the idea of promoting Bangladesh in Wales and Wales in Bangladesh. Britain is the 3rd biggest destination for Bangladeshi exports as well as being the no 1 for Bangladeshi remittance.”
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Welsh Secretary to discuss Welsh trade mission to Bangladesh
Welsh businesses could have the opportunity of promoting trade links with Bangladesh on the first ever Welsh trade mission to the country.
Following a meeting with representatives from Wales’ Bangladesh Chamber of Commerce, the Secretary of State for Wales has agreed to explore the possibility of a trade mission to Bangladesh with Whitehall colleagues.
The trade mission would encourage opportunities for Welsh companies and Welsh Bangladeshi entrepreneurs to utilise the trade links already established between both countries.
Mrs Gillan said: “It was a really constructive meeting with representatives from Wales’ Bangladesh Chamber of Commerce and it gave me the opportunity to hear more about their work on strengthening the links between Wales and Bangladesh. Wales has a long history of successful international trade and investment and I have agreed to explore, together with colleagues from UKTI and the Foreign and Commonwealth Office, the possibility of the first ever Welsh trade mission to Bangladesh.
“There is a large scope to establish foreign trade links with Welsh businesses and I will also be discussing the possibility of a trade mission with Welsh Assembly Government Ministers. A trade mission to Bangladesh would be great for the Welsh economy and highlight that Wales is an ideal place for international companies to do business.”
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SECRETARY of State for Wales Cheryl Gillan is backing the idea of a trade mission to Bangladesh.The trade mission would encourage opportunities for Welsh companies and Welsh Bangladeshi entrepreneurs to utilise the trade links already established between both countries.
Title: BangladeshHigh Commission Supports Welsh Initiative A delegation from Wales, lead by Wales Bangladesh Chamber of Commerce (WBCC) Chair Mr Dilabor Hussain today presented His Excellency the Right Honourable Dr M. Sayeedur Rahman Khan with a proposal of a joint investment partnership initiative that has been designed by the Chamber...
Title: The Chamber Unites Wales
A delegation from South Wales, lead by Wales Bangladesh Chamber of Commerce (WBCC) Chair Mr Dilabor Hussain today formed a unbreakable bridge between North and South Wales in the hearts of Welsh Bangladeshi entrepreneurs in both regions.
We believe that for any event to be called a successful, the outcomes are the measuring stick and have to be positive and beneficial. Below are the outcomes that we believe will be achieve by Wales hosting this event:- Wales will have the opportunity to show how it is developing...
