United News of Bangladesh

Chief Adviser Professor Muhammad Yunus had a meeting with Canada’s visiting Indo-Pacific Trade Representative Paul Thoppil on Tuesday and discussed strengthening bilateral economic cooperation and investment. "We believe in Bangladesh’s economic potential. That’s why I’ve brought business delegates with me — because we want to build stronger commercial ties," Paul Thoppil said as he met the Chief Adviser at the State Guest House Jamuna. Thoppil, on his second official visit to Bangladesh, is leading a high-level business delegation comprising senior executives from some of Canada’s most recognisable companies, including Bell Helicopter, BlackBerry, Gildan Activewear, JCM Power and Advantech Wireless Communications. He commended the reform initiatives taken under Professor Yunus’ leadership, describing them as bold and necessary. “You’ve assembled an impressive advisory team. We see clear signs of progress. The reforms your government has initiated are laying the groundwork for sustained economic growth, and Canada values its relationship with Bangladesh,” he told Professor Yunus. In response, Dr Yunus said, “We’re trying to clean up a mess — what we inherited was a disaster. It felt like a 15-year-long earthquake. Despite the impossible odds, we are making steady progress through serious reforms. And to move forward, we need friends like you by our side.” Dhaka seeks peace, not conflict: Touhid tells his Pak counterpart The Chief Adviser extended a warm invitation to Canadian investors, stressing Bangladesh’s readiness for industrial expansion and its potential as a regional export hub. “You can invest here, produce here, and re-export to other markets from here. We’re prepared to train our people and partner with Canadian businesses. Canada is always welcome in Bangladesh,” he said. SDGs Affairs Principal Coordinator Lamiya Morshed was also present at the meeting. The Canadian delegation included Ajit Singh, High Commissioner of Canada to Bangladesh; Debra Boyce, Senior Trade Commissioner at the High Commission of Canada; William Dickey, Commercial Sales Manager at Bell Helicopter; Brad Colwell, Head of Government Solutions at BlackBerry; Ladislaua Papara, South Asia Chief Representative for Export Development Canada; Juan Contreras, Vice President of Gildan Activewear; Md. Ali, Regional Director Asia at JCM Power; and Tony Radford, Vice President of Global Sales at Advantech Wireless Communications.

Canadian High Commissioner to Bangladesh Benoit Prefontaine has expressed his country’s interest to launch a joint working group by November to increase trade and investment between Bangladesh and Canada. The two countries agreed to form a joint working group in 2017 and a term of reference has also been intended for this purpose but it has not yet materialized. High Commissioner Prefontaine met Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md. Jashim Uddin on Thursday and discussed the issue. He said Canada has already nominated four representatives from the private sector. Welcoming the initiative of the Canadian High Commissioner, FBCCI President Jashim said he himself co-chairs the group. The FBCCI will hold talks with Bangladeshi businessmen in preparation for the formation of the joint working group this month. Read: Dhaka seeks preferential trade facilities from Canada till 2030 He said many countries have invested in the 100 specialized economic zones in Bangladesh which can also appear to be attractive for Canadians’ entrepreneurs. The FBCCI Chief called for investment in primary textile, leather products, energy and power, ceramics, furniture industry, infrastructure and blue economy sectors. Praising Bangladesh's progress, the Canadian High Commissioner said that despite being one of the most promising economies in the region in terms of socio-economic indicators, economic growth and the huge domestic markets, Bangladesh is still unfamiliar to Canadian investors. Therefore, the entrepreneurs of the country are not considering Bangladesh in terms of new investments. However, the Canadian embassy has already appointed a senior trade commissioner to improve trade relations with Bangladesh. Read: Canada joins hands with Brac to support vulnerable people During the meeting, FBCCI Vice-President MA Momen said global investors are looking for alternative investment destinations of China for various reasons. Canadian companies may consider Bangladesh in this regard, he said, and called for simplification of Canadian visa process for Bangladeshi businessmen. Senior Vice President of FBCCI Mostafa Azad Chowdhury Babu; Vice-Presidents Md. Amin Helaly and Md. Habib Ullah Dawn; and Chief Executive Officer Mohammad Mahfuzul Hoque were present.

Bangladesh has participated at a five-daylong Apparel Textile Sourcing Canada Virtual in Canada that concluded on Friday where the country’s apparel manufacturers attained knowledge on sustainability of the industry during post-Covid period.