FBCCI President Sheikh Fazle Fahim on Friday urged the potential of exploring Bilateral Value Chain Initiative (BVCI) through joint ventures with Maldives utilizing Bangladesh’s production competitive edge and global market access opportunities.
"LDC graduation at 50th anniversary of Bangladesh is a inspiration and to offset the international support measures cost of capital, trade logistics and technical capacity in targeted areas for the private sector is underway within the transition period of five years; concerned ministry, development partners and FBCCI will jointly work on it including all chambers and associations including grass root level town/city associations", Fahim added.
Sheikh Fazle Fahim made the remarks while holding talks with Fayyaz Ismail, Minister of Economic Development of Maldives on Fridayday.
Fayyaz Ismail is visiting Dhaka with the President of the Maldives Ibrahim Mohamed Solih on the occasion of Bangladesh’s Golden Jubilee of Independence and Mujib Year.
The Meeting discussion was focused on Bangladesh’s current position in terms of socio-economic condition in respect to the challenges created by the COVID-19 pandemic as well as opportunities, role and capacity of the private sector of Bangladesh after LDC graduation.
Sheikh Fazle Fahim apprised Fayyaz Ismail of Bangladesh Government’s initiatives including fiscal and non-fiscal measures to support supply chain, transport, logistics, production, export-import, retail, agriculture, improving liquidity and money supply, grants for MSMEs, food aid, cash transfer, inclusive policy for the informal sector towards the formal etc supporting the economy sustain in 2020 and move towards recovery in 2021 and 2022 to pre Covid19 trajectory.
The FBCCI President added as low hanging fruits Bangladeshi construction material, engineering procurement and construction (EPC) companies have export and investment opportunities in the real estate and construction sector of Maldives as the country is embarking on mega development projects. Construction materials such as cement and steel can also be exported from Bangladesh.
Citing FBCCI’s continued advocacy for establishment of Direct Bangladesh-Maldives Shipping Line for further expansion of trade and investment, Mr. Fahim said Bangladesh’s highly competitive essential and premium products i.e. FMCG, durable consumer goods, processed food, frozen food, vegetable, livestock, poultry, home appliances, pharmaceuticals, mobility motorbike etc. have potential for export to Maldives.
The FBCCI President also requested Maldives’ knowledge transfer in the hospitality sector of Bangladesh in creating expertise and branding Bangladesh as a destination for global travellers.
Fayyaz Ismail, Minister of Economic Development of Maldives expressed his interest to work on more state own enterprises cooperation and public-private sector engagements for bilateral interest for global engagements between the two countries and to visit Bangladesh again with a business delegation in the coming months for more concrete sectoral collaboration. High Commissioner of Bangladesh to Maldives Rear Admiral M Nazmul Hassan, newly appointed also joined the meeting.
