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17 September, 2018 00:00 00 AM
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Reliable energy supply crucial to attract local, foreign investment

Says Australian High Commissioner in Dhaka
UNB

Australian High Commissioner to Bangladesh Julia Niblett yesterday said reliable energy supply is crucial to attract both domestic and foreign investment and enable higher economic growth needed for providing employment with higher income, reports UNB.

“Australian companies have significant expertise in mining and energy; and well-placed to further help Bangladesh develop its mining and energy sectors,” she said.

The High Commissioner welcomed the government of Bangladesh’s initiatives to address energy needs in Bangladesh. “This is an ambitious and impressive essential focus of policy to support Bangladesh’s economic growth.”

High Commissioner Niblett was addressing a discussion on ‘Bilateral Business and Trade Opportunities Between Australia and Bangladesh’ organized by the Australia Bangladesh Chamber of Commerce and Industry (ABCCI) in a city hotel.

Prime Minister’s International Affairs Adviser Dr Gowher Rizvi spoke as the chief guest while Executive Chairman of Bangladesh Investment Development Authority (BIDA) Kazi M Aminul Islam and President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Md Shafiul Islam Mohiuddin spoke as special guests with ABCCI President Obaidur Rahman in the chair.

ABCCI Vice President M Khan made a presentation on Bangladesh-Australia trade and investment

opportunities.

High Commissioner Niblett said oil, gas and coal extraction, power generation, transport, trade and infrastructure and skill development - there are lots of areas for collaboration between the two countries.

“We’ll continue to work energetically and closely with all of you to take Bangladesh-Australia trade and investment relations forward,” said the High Commissioner.

Niblett said Australia and Bangladesh have enjoyed a longstanding and mutually beneficial trade relationship that has grown significantly in the last five years.

The bilateral trade grew to over AUD 2.3 billion dollars in 2017, reflecting Bangladesh’s economic growth and the complementary strengths of two economies.

“Despite the trade surplus in Australia’s favour, bilateral trade is relatively balanced, and as such benefits both our countries,” she said.

The High Commissioner laid emphasis on diversification of economic relations into other fields that can be crucial for Bangladesh’s further progress. “There’re lots of scopes for collaboration.”

Dr Rizvi invited the Australian investors to come and invest in Bangladesh taking the advantage of “stable political system” availability of workers and fast growing market inside Bangladesh and re-export to other countries. “So the investors who will come here you can come and there will not be any change.”

He said Bangladesh has a stable society with political stability and growing maturity of democratic institutions. “We’ll continue to have the stable society... democratic continuity will continue. There is no doubt about it.”

Kazi Aminul of BIDA said Australia is a tested friend of Bangladesh and the two countries can achieve a lot together.

He said under the leadership of Prime Minister Sheikh Hasina they are working to further improve investment and business climate in the country. “We can take the relations to historically higher level.”

FBCCI President Mohiuddin said the government has ensured the culture of peace in the country and hoped that Australian investors will invest more in Bangladesh.

“We don’t see any more destructive politics. We always love peace that exists. We hope more collaboration,” he added.

Business leaders from the FBCCI, other associations and members of other bilateral Chambers were also present.

Established in 2004, the ABCCI provides a range of services to its members based in both Australia and Bangladesh, and it has been a leading voice of businesses in both countries.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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