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Bangladesh needs even more skills, jobs, expense to keep growth: UK

12 Feb 2020 10:58 PM

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British high commissioner to Bangladesh Robert Chatterton Dickson in Monday said Bangladesh needs more know-how, extra jobs and additional capital to keep the exceptional growth noting that FDI can offer that, reports UNB.

“Foreign investments might help upskill a workforce," he reported mentioning that Bangladesh did remarkably well on the 50 years since independence - something the united states can be genuinely pleased with.

The Uk high commissioner made the remarks while delivering a lecture on ‘The Need for International Trade’ at the international business section, University of Dhaka.

Over 200 pupils from international business division, Shobod Deba Nath, associate professor and chairman, international organization division, University of Dhaka, Derek Griffiths, head of Trade & Investment Bangladesh, international trade department, British Excessive Commission Dhaka, and other faculty people of Dhaka University and personnel of the British Large Commission Dhaka attended the lecture.

Following the lecture, students had the chance to ask questions to the British high commissioner on UK-Bangladesh diplomatic and trade romance, ease of conducting business, and impact of Brexit on Bangladesh trade.

Prior to his lecture, the Uk large commissioner met Md. Akhtaruzzaman, vice-chancellor of the University of Dhaka.

The Uk envoy said lots of the managers in Bangladesh’s private banks are suffering from their careers in HSBC or Regular Chartered - two Uk banks.

He said the town of London, home for some of the World’s most widely known financial institutions, might help access capital.

On the UK’s withdrawal from the EU, the high commissioner explained on 31 January they left europe after 47 years of membership.

"For the first time since 1973 we are a fully sovereign nation in a position to control our very own destiny. Which includes trade," he said.

Superior commissioner Dickson said somewhere between now and the end of the year they will work with the EU to negotiate a free trade agreement, drawing in other recent agreements, including the one between the EU and Canada. “That needs to be the key of our future romance."

The High Commissioner discussed the phenomenal surge of Bangladesh’s RMG industry saying overtime the comparative advantage could be eroded by competitors.

"That’s why, to maintain growth, Bangladesh must move up the value chain and diversify its exports. And what’s best for Bangladesh is as well good for the UK - that’s the foundation of No cost Trade - if our businesses can supply or spouse yours to greatly help them are more competitive.”

On UK-Bangladesh trade romance, the substantial commissioner emphasised that as they become Global Britain, they'll be developing latest partnerships and construction on historic friendships.

"There are few locations on the planet where these chances are higher than here found in Bangladesh thanks to the a large number of personal connections between us," he said.

The large commissioner said, “As Britain we have there been at the start. I JUST was reading a number of the British mass media commentary from 1971. It really is clear that UK judgment during the liberation struggle was overwhelmingly on the side of Bangladesh."

He said January 1972 saw Bangabandhu greeted in Downing Street by the then Uk primary minister, Edward Heath.

Then returned to a newly independent Bangladesh within an aircraft of the British Royal Air Force.

The large commissioner said fifty years on, Bangladesh has the most effective growing large economy on earth.

He said the united kingdom is Bangladesh’s second largest single industry and second largest way to obtain international investment.

Marks and Spencer, Unilever, HSBC and Normal Chartered are a number of the British businesses doing well here.

"I'd love more to join them. Our people to people inks are close. Nowadays there are some 600,000 British citizens of Bangladeshi heritage," said the great commissioner.

This includes four members of the parliament elected in December along with doctors, lawyers, entertainers, engineers and, of course, the owners of almost all of Britain’s Indian restaurants.

"We are seeing proof the Bangladeshi diaspora looking for investment opportunities ‘back again residence’, spurred on by the country’s growth. A nice example of the benefits of bilateral trade," explained the British envoy.

The large commissioner concluded his speech by saying, “I hope I’ve set out obviously why the British Government believes wholeheartedly in Free Trade as the cement that binds countries along and helps everyone prosper."

He said they in Britain are getting into a thrilling new chapter of their longer history.

"We do in order a confident, independent nation standing up for our ideals of democracy and free trade. We do thus alongside our good friends in Bangladesh, a partnership which is certainly evolving as Bangladesh movements towards middle class status.”