Canada-Bangladesh Joint Working Group will brand Bangladesh in Canada for boosting bilateral trade and investment.

  Nominated members of the committee discussed the issue at a virtual meeting
on Tuesday, said a press release.

  Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md Jashim Uddin and Co-Founder and Vice Chairman of Consumer Health Nuzhat Tam-Zaman co-chaired the meeting.

  Members of the committee opined that with the development of the economy, new potentials for foreign investment have been created in Bangladesh.

  The country is now one of the best investment destinations in the region due to its infrastructure facilities, huge domestic market and duty-free
facilities in the major markets of the world, they observed.

  The previous meeting of the Canada-Bangladesh Joint Working Group identified tourism, ICT, agriculture, agri-food, education, pharmaceuticals
and renewable energy as potential sectors for collaboration.

   At the meeting, FBCCI President Md. Jashim Uddin called for a new inclusion of the blue economy and plastics sector.

   The FBCCI Chief said Canada is one of the best countries in the world in ocean economy.

   "The country has the expertise and knowledge to use its marine resources in a sustainable manner. On the other hand, Bangladesh has a 710 km long coastline with an exclusive economic zone of 200 nautical miles inside the Bay of Bengal. But most of the resources are untapped. With Canadian investment, technical knowledge and assistance, Bangladesh's economy will move forward by utilizing its marine resources," he added.

   The president said the FBCCI would soon submit a sector-wise report on the blue economy, plastics and tourism to the working committee.

  FBCCI Director Syed Almas Kabir will also submit a report on skills development and information technology at the next meeting.

  The two sides agreed to strengthen inter-communication between industry associations to remove trade barriers and increase import-export between two countries.

  At the meeting, the entrepreneurs talked about making Canada's Rules of Origin easier to increase exports of Bangladeshi products, while Canada has demanded on-arrival visa facility in Bangladesh to facilitate trade and investment.

  During the meeting, a study report on the prospects of Bangladesh's leather, leather products, and footwear export sector in Canada was presented by Director of FBCCI and President of MCCI, Md Saiful Islam.

  President of the Saskatchewan Trade and Export Partnership (STEP) Chris Dekker presented another report on Bilateral Trade Enhancement.

  The next meeting of the committee is scheduled to be held on February 7, 2022.

HM