2024-02-14 07:23:07
Bangladesh Investment Development Authority (BIDA) Executive Chairman Lokman Hossain Mia said that BIDA and Commonwealth Enterprise and Investment Council (CWAIC) will work together to expand business and trade and increase foreign investment.
BIDA and CWAIC said this at a joint press conference after an exchange meeting with CWAIC Chairman Lord Marland, Lokman Hossain Mia, on Tuesday (February 13) in the BIDA conference room.
Lokman said that BIDA and CWAIC work together to expand business and increase foreign investment. CWAIC will introduce Bangladesh to the world market and provide more investment opportunities from Commonwealth countries. At the same time, a hub office of CWAIC will be opened in Bangladesh, so that businessmen of the country can easily expand trade with other countries and bring investment from Commonwealth countries.
At the press conference, Lord Marland said, CWAIC works on economic development, trade expansion and investment promotion among the 56 Commonwealth countries. The work of CWAIC is to monitor socio-economic and infrastructural development and policies of Commonwealth countries. In that direction, the future of Bangladesh is very bright. Half of Bangladesh’s population is under 30, like India and Nigeria among Commonwealth countries.
Lord Marland also said that there is a huge market in Bangladesh, which will easily attract investors. He said, if the CWAIC hub office is established in Dhaka, the inter-communication between the businessmen of the Commonwealth countries will increase to a great extent. As a result, trade expansion and foreign investment in Bangladesh will be possible in the fastest time.
In the exchange meeting, various issues were discussed with the aim of increasing mutual cooperation between BIDA and CWAIC, setting up structures agreed by both parties to support investment development, increasing institutional relations and capacity through mutual cooperation, attracting local and foreign investment and expanding business and trade between Commonwealth countries.
CWAIC is a not-for-profit organization mandated by Commonwealth Heads of Government to provide trade and investment cooperation to 56 member countries. With the aim of investment and trade development, the network of CWAIC organizations has been formed with a total of 140 affiliated institutions of banks and financial institutions, commercial institutions and government institutions.
Bangladesh became a member of CWAIC in 2018. CWAIC organizes International Business Forums in member countries every 2 years.