“There are opportunities to work together"
A visiting delegation of the UK Bangladesh Catalysts of Commerce and Industry (UKBCCI) vowed to help boost business relations between Bangladesh and Britain.
UKBCCI is a leading umbrella organisation for British Bangladeshi entrepreneurs in the UK and Bangladesh.
The delegation, comprised of 22 members, consisted of established and emerging investors and entrepreneurs from diverse sectors.
UKBCCI lauded Bangladesh’s enormous prospect in the shifting political landscape.
The delegation, led by UKBCCI Chairman Iqbal Ahmed OBE, aimed to enhance bilateral relations and explore business opportunities.
Ahmed expressed interest in investing in Bangladesh and stressed the need for better financial sector discipline to attract foreign investment.
British MP Dr Rupa Huq was part of the delegation. She called for a free trade agreement (FTA) between the UK and Bangladesh to enhance bilateral trade:
“We need an FTA with Bangladesh in any form to increase bilateral trade. Relying solely on garment exports will not suffice.
“There are opportunities to work together on various technologies, especially artificial intelligence.”
She also mentioned the UK’s strong trade and economic ties with Bangladesh during the visit.
Huq noted the active participation of British companies in sectors such as agriculture, garments, and pharmaceuticals.
Moreover, Huq stressed that Bangladesh is now one of the most profitable destinations for foreign investment.
Thus, she urged Bangladeshi authorities to streamline investment procedures and provide comprehensive facilities to attract foreign investors:
“The special economic zones and hi-tech parks in Bangladesh offer tremendous opportunities for both local and foreign investors.”
Showkat Aziz Russell, Bangladesh Regional President of UKBCCI, highlighted the mission’s emphasis on Bangladesh’s robust ready-made garment (RMG) sector:
“Bangladesh is globally recognised for its strong manufacturing capabilities and is a key hub for apparel sourcing.”
“This mission seeks to capitalise on the country’s edge in global export competitiveness while fostering innovation in design and manufacturing.”
The textile sector contributes over 13% to Bangladesh’s gross domestic product (GDP).
With investments exceeding 17 billion pounds, the textile industry accounts for over 84% of Bangladesh’s export earnings.
One aim is to foster trade and investment opportunities in Bangladesh’s garment and manufacturing sectors while promoting innovation and business growth.
In turn, the delegation highlighted the need to diversify trade beyond garment exports.
The 2025 trade mission focused on strengthening existing partnerships and exploring new opportunities.
There is enthusiasm for finding new avenues of collaboration to bolster economic ties between Bangladesh and Britain.
Overall, there is a sharp focus on strengthening and growing trade ties through diversification, investment, and policy initiatives.
UKBCCI conducted its trade mission to Bangladesh from January 4 to 9, 2025.
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