Bangladeshi businesses and their Singaporean counterparts discussed business prospects, trade, and investment opportunities between their countries at an international business networking event in Dhaka Wednesday. They also spoke about how the firms of both countries can expand businesses for bilateral interests. A delegation of the Singapore Business Federation (SBF), the apex business chamber promoting the interests of Singapore businesses in trade, investment and industrial relations, is now in Bangladesh to understand the country's investment climate. To connect local businesses with global ones to boost bilateral growth and opportunities, Bangladeshi Charter Accountancy firm Howlader Maria and Co (HmAC) and, organised the event at a Dhaka hotel. Read more: Bangladesh shares its aspirations with Singapore to emerge as facilitator of regional connectivity Maria Howlader, founder and CEO of HmAC, Soo Wei Chai, executive director of Global Business Division and Young Business Leaders Network of SBF, business leaders, chief executives officers of different companies, and business firms from both countries were present at the meeting. Businesses from Singapore have great opportunities to invest in Bangladesh, including in information technology, pharmaceuticals and hospitality as the country offers attractive tax exemptions and other facilities, participants from local businesses said. The Singapore delegation from multiple sectors shared their investment plans and tried to find out business opportunities in different sectors such as IT, agriculture, and construction. They also said Bangladeshi businesses can also expand their businesses by investing in Singapore. Read more: Singapore upbeat about Bangladesh’s economic potential Thanking the participants from both Singapore and Bangladeshi business houses, Maria said, "The networking event represents how we feel about doing business in Bangladesh and matching business to business" for further growth and expansion. Maria said Bangladesh has many inspiring stories of growth and development, with a strong track record of growth and development even amid rising global uncertainties.    

Sri Lankan High Commissioner to Bangladesh Professor Sudharshan Seneviratne has said that his counyry wants to see Bangladesh as a strategic partner, noting that the two countries need to take care of each other in a newly evolving globalized world. “This partnership becomes imperative as our alignment revolves around the protection of the seascape embracing the two lands,” he said, emphasizing that the two countries are also stakeholders of the larger family represented by the SAARC, BIMSTEC and IORA. In his recent speech marking the 50 years of Bangladesh-Sri Lanka friendship shared with media on Saturday, High Commissioner Seneviratne, who was also the first Sri Lankan to receive both Masters and Doctoral Degrees from India’s Jawaharlal Nehru University, said Dhaka and Colombo need to prosper together. The envoy, also Ambassador Extraordinary and Plenipotentiary to the Kingdom of Bhutan, said one of the focal points and dynamics of the global power blocks is their engagement and aspirations in the Indian Ocean and the Bay of Bengal. Also read: US envoy meets Hasan Mahmud “We are now witnessing a sharply evolving competitive spirit that is setting the tone for the future of South Asia,” he said, adding that the global neoliberal political and economic order is beginning to aggressively impact the region. It may effectively alter the balance of power and cordiality within the South Asian neighbourhood, said the envoy. “Its impact is mainly felt over the seascape of the Bay of Bengal.” He said their two lands hold an equally important role at the two strategic ends of the Bay of Bengal representing the “gateway” entry and exit points to the larger World systems. “The Bay of Bengal essentially is an Oceanic highway. As such, the futuristic staying power and sustenance of our two countries revolve around the protection of the seascape of the Indian Ocean and the Bay of Bengal,” said the high commissioner. It is now recognized that the Bay of Bengal is one of the richest resource areas in the world, hence the high competitive premium placed on its natural and human wealth, he said. Seneviratne wished another 50 years of friendship and solidarity between Bangladesh and Sri Lanka as a gift to the people of the two countries and to the world. Also read: No proposal made to US to bring BNP to polls: Momen He said aviation and shipping are making headway with official discussions at the ministerial level on coastal shipping, mutual birthing rights and warehouse facilities which are under discussion. Private sector shipping companies from Bangladesh and Sri Lanka most recently commenced working on joint ventures and the government-owned shipping corporations are working together, he said. As for reverse investments, it is heartening to learn that Bangladesh has lifted the restriction of movement of capital as FDI’s, said the high commissioner. Though limited, there was an outflow of FDI to Sri Lanka between 2005 and 2019 amounting to around 4 million US$. “Sri Lanka is looking towards initial investments from Bangladesh and we have on track tourism, shipping and pharma,” he said. Seneviratne said, “We also need to strike a balance between the two brother nations so that trade balance needs to be rectified. As of now, the trade balance is in favour of Sri Lanka at US$105 million.” The near completion of the preferential trade agreement (PTA) will provide greater opportunities for closing the uneven flow, he said.