The Chairman of Commonwealth Enterprise and Investment Council (CWEIC), Lord Marland, has expressed enthusiasm for the vibrant economic landscape of Bangladesh.
“I am so struck by Bangladesh for not only the friendliness and welcome that we had from all of you in Bangladesh, but also this is a vibrant, hardworking, and an entrepreneurial country, which is an example to many other countries in the world,” Lord Marland said while talking to reporters after attending the “Commonwealth Trade and Investment Forum” in Dhaka on Thursday.
Marland praised Bangladesh's remarkable economic growth, citing an impressive 8% GDP growth and a 20% debt-to-GDP (Debt to Nominal GDP) ratio, which he noted as a “dream” figure for many countries in the West.
He emphasised on the entrepreneurial spirit of Bangladesh and highlighted the country's development as a testament to the power of a free and open economy in lifting people out of poverty, fostering hope, and nurturing aspirations.
He commended the warm welcome extended by the people of Bangladesh and described the nation as a vibrant, industrious, and entrepreneurial example for countries worldwide.
Meanwhile, Foreign Minister AK Abdul Momen underscored the importance of fostering greater trade and investment relations among Commonwealth countries.
He noted that despite the vast potential within Commonwealth nations, inter-Commonwealth trade remains relatively low.
He was speaking to the reporters after a meeting with African delegates to the Commonwealth Trade and Investment Forum.
Minister Momen highlighted that the combined trade value of Commonwealth countries is $721 billion, and the GDP of these nations’ totals around $13 trillion, with expectations of doubling by 2027 to $27 trillion.
The Foreign Minister said various sectors had piqued the interest of investors, including agriculture, contract farming, textiles, garments, and agro-processing.
However, specific details regarding these potential investments were to be disclosed at a later time, he added.
Bangladesh hosted the Commonwealth Trade and Investment Forum for the first time in collaboration with the Commonwealth Enterprise and Investment Council (CWEIC) on September 13-14.
The conference wrapped up on Thursday with the promise of enhancing cross-border investment to flourish respective economies.
There were nine sessions on investment, banking, technology, Cameroon's economy, pharmaceuticals and public health, SMEs, green finance, tourism and international supply chain on the final day of the two-day conference at Intercontinental Dhaka on Thursday.