Chairman of the Bangladesh Securities and Exchange Commission (BSEC), Professor Shibli Rubayat-Ul-Islam, has announced swift intentions to establish a commodity exchange in Bangladesh, allowing not only local businesses but also entrepreneurs from South Africa and other nations to engage in trade. This significant initiative was revealed during the “Rise of Bengal Tiger: Bangladesh Trade and Business Summit” held in Johannesburg, South Africa, on Wednesday, August 23rd.
The summit, jointly organized by BSEC and the Bangladesh Investment Development Authority (BIDA), marks a strategic collaboration aiming to bolster investment prospects. The event commenced on Wednesday morning at 10:00 am local time in Johannesburg, with Prime Minister Sheikh Hasina gracing the occasion as the chief guest.
In a notable revelation during the “Rise of Bengal Tiger: Bangladesh Trade and Business Summit” in Johannesburg, South Africa, the Chairman of the Bangladesh Securities and Exchange Commission (BSEC), Professor Shibli Rubayat-Ul-Islam, highlighted the historic stance of Bangladesh’s founding father, Sheikh Mujibur Rahman, at the United Nations in 1974. The founder of the nation had advocated for unbiased representation, marking a pivotal step towards ending apartheid.
Over the past 15 years, bilateral trade between Bangladesh and South Africa has surged, reflecting growing economic ties between the two countries. However, despite this progress, there remains substantial room for further enhancement.
Professor Shibli Rubaiyat-ul-Islam emphasized that Bangladesh’s pivotal role in trade stems from its burgeoning population and increasing purchasing power. The country’s reduced production costs owing to abundant electricity supply offer an advantageous edge. The country’s stock market also hosts a multitude of promising companies, fostering a conducive environment for long-term investment. This scenario presents lucrative opportunities for South African businesses seeking expansion through these ventures.
Noteworthy attendees at the event included Dr. A.K. Abdul Momen, Minister of Foreign Affairs of Bangladesh; Sihle Zikalala, Minister of Public Works and Infrastructure of South Africa; Salman F Rahman, Private Industry and Investment Advisor to the Prime Minister; and Noor-e-Helal Saifur Rahman, Bangladesh’s High Commissioner to South Africa. The presence of these prominent figures underscored the significance of the summit in strengthening bilateral trade relations.
