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9 April, 2019 08:06:23 AM
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Bangladesh to become ‘preferred destination’ for Swiss businesses

Independent Online Desk
Bangladesh to become ‘preferred destination’ for Swiss businesses

Switzerland has said Bangladesh will become a "more preferred destination" for Swiss businesses in the future with further improved infrastructures and energy supply, regulatory predictability, legal security and the rule of law.

"Potential investors sometimes find it challenging to venture into Bangladeshi market in terms of ease of doing business," Assistant State Secretary for Asia- Pacific of the Federal Department of Foreign Affairs of Switzerland Ambassador Raphael Nageli told the news in an interview.

He, however, said Bangladesh has taken up several initiatives in recent years to draw foreign investments.

During their recent visit to Bangladesh, Ambassador Nageli and his delegation members have had "fruitful discussions" with various government agencies regarding these issues.

Responding to a question, he said he is aware of the potentials the Bangladeshi economy offers to the new investors.

"In order to take our economic relations to the next level, the two countries need to identify newer areas of cooperation, including the expansion of trade baskets," he said.

The economic relations between Bangladesh and Switzerland, according to him, are growing rapidly and the bilateral trade volume has almost tripled since 2010.

Ambassador Nageli said investments and reinvestments from the Swiss companies operating in Bangladesh are also increasing regularly.

He said they held an exchange with Bangladeshi authorities to promote trade and investment relations between Switzerland and Bangladesh.

As a country, Ambassador Nageli said, Switzerland has a strong focus on innovation and R&D. "In this area, I see huge potentials for collaboration between the businesses of the two countries."

He laid emphasis on identifying new areas of economic cooperation -- hi-tech, clean-tech, renewable energy etc. - where the two countries can mutually benefit.

Ambassador Nageli said the Swiss cooperation strategy for Bangladesh is largely aligned with Bangladesh's priorities for SDGs and country priorities.

Under this strategy, he said, Switzerland will continue to promote human and social capital development in this country as well as the voice and rights of particularly poor and disadvantaged women and men for improving their wellbeing and equal participation in society.

KK

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Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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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.

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