Australia urged to set up EPZ in Bangladesh

International Chamber of Commerce Bangladesh (ICCB) called on Australia to set up an export processing zone in Bangladesh and take the advantage of the facilities extended by the government. 

In a meeting with officials of Austrade in Sydney, ICCB President Mahbubur Rahman made the call saying South Korea has already set up an export processing zone in Bangladesh, while exclusive export processing zones are also going to be set up by China, India and Japan. 

The meeting was held as a 14-member ICC Bangladesh led by Rahman went to Sydney on September 18 to attend the 10th World Chambers Congress held September 19-21. 

Rahman said the government of Bangladesh is going to set up 100 export processing zones and also allows setting up private export processing zones in the country. A number of areas, including export of garments, pharmaceuticals and leather products came up for discussion during the meeting. 

Bangladesh High Commissioner to Australia Kazi Imtiaz Hossain briefed the Austrade officials about the government policies for attracting Foreign Direct Investment (FDI). He mentioned that Bangladesh has most favourable investment policies that allow, inter alia, 100 percent ownership and repatriation of profits by foreign investors. 

He said Bangladesh High Commission will welcome a visit by an Australian trade delegation to Bangladesh to explore investment opportunities.

General Manager Asia of Austrade Ms. Liu Bing thanked Bangladesh High Commissioner Kazi Imtiaz Hossain and ICC Bangladesh President Mahbubur Rahman for coming to Austrade, Sydney office and giving them the opportunity of exchanging views and discussing on various areas where Australian companies could explore the possibilities of investing in Bangladesh.

ICC Bangladesh delegation members expressed the interest for increasing cotton imports from Australia for the garment industries, setting up healthcare facilities jointly with Australia and investment in Australia for cotton cultivation for exporting to Bangladesh. 

Rahman suggested Austrade arrange a visit by a business delegation to Bangladesh to explore possible areas of investment and also promotion of trade. The meeting was also attended by ICC Bangladesh Vice President and Arlinks Limited Chairman Rokia Afzal Rahman, ICC Bangladesh Executive Board Member and Hameem Group Managing Director A.K.Azad, ICC Bangladesh Executive Board Member & Managing Director Plummy Fashions Md. Fazlul Hoque, Chairman of MIDAS & Shasha Denims and Grameen Telecom Trust Managing Director Parveen Mahmud, ICC Bangladesh Secretary General Ataur Rahman and First Secretary of Bangladesh High Commission in Australia Ms. Farida Yasmeen.

From Austrade side the meeting was attended by Assistant Director (Bangladesh, Nepal and Bhutan, South Asia Branch of Department of Foreign Affairs and Trade Kavitha Kasynathan, Austrade Trade Advisor (Advisory Services and Consumer) Joel Smouha, Trade Advisor (Food & Agriculture- Meat and Grains) Sam Guedouard, Senior Trade Advisor (International Health) Abdul Ekram and Executive Officer for Asia International Operations Group Jessica Harrison.
Source: https://dailyasianage.com

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