The United Kingdom has signaled its willingness to assist Bangladesh in overhauling its banking and revenue sectors, as well as its capital market.
This was revealed by Finance Adviser Dr. Salehuddin Ahmed following a meeting with UK High Commissioner Sarah Cooke on the morning of August 27 at his office in the Economic Relations Division (ERD) in Dhaka’s Sher-e-Bangla Nagar.
“Reforming these sectors is a pressing issue for us, and without these changes, our tasks will become significantly more challenging,” Dr. Salehuddin told reporters post-meeting.
The adviser further noted that the discussion included efforts to strengthen trade and commerce between Bangladesh and the United Kingdom.
“We aim to see growth in trade and commerce. The UK has historically been very supportive, and we anticipate their continued assistance in the future. We are eager for their cooperation,” he remarked.
During the meeting, Cooke and Salehuddin also touched on ongoing collaboration between the two nations.
“The UK is currently engaged with Bangladesh on economic development and women’s empowerment, and this cooperation will persist,” Salehuddin stated.
He also highlighted the importance of private sector investment, acknowledging significant contributions from major British corporations in Bangladesh.
Additionally, Dr. Salehuddin urged the UK to diversify its imports from Bangladesh, pointing out that the country primarily exports ready-made garments (RMG) to the UK and Europe.
He emphasized the necessity for Bangladesh to enhance its business environment to attract more private investment.
“We must improve our business climate, or the private sector will shy away,” he cautioned.
High Commissioner Cooke described the conversation as productive, affirming that the UK and Bangladesh share strong economic, trade, and investment relations.
“We are eager to expand our trade and investment ties. We also discussed how the UK can support the economic reforms Bangladesh is prioritizing, and how we can collaborate by bringing our experts together to address these reforms while also boosting our trade and investment relations,” she said.
When asked about attracting more Foreign Direct Investment (FDI) from the UK, Cooke noted the strong partnership between the two countries.
“We have a robust investment environment. Naturally, we would like to see more FDI in Bangladesh,” she added.
She emphasized that British investors are committed to responsible investment, adding, “I spoke with the adviser about ways to build investor confidence and further strengthen our trade and investment ties.”
Addressing another question, Cooke confirmed that the discussion included how the UK could support Bangladesh in prioritizing its economic reforms.
