Govt moves to sign agreements with EU countries to boost export, investment
Saturday, 30 June 2007
Naim-Ul-Karim
The government seeking to raise the country's export volume and boost foreign investment has accelerated its initiatives to sign economic and trade cooperation agreement (ETCA) with all European Union countries, sources said.
"We have been asked to complete paper works and proceed soon to sign such agreements," a foreign ministry source said.
He said two separate agreements have already been signed for trade and economic cooperation with Ukraine and Belarus under the fresh initiative.
The source, however, hinted that a Byelorussian business delegation is likely to visit Bangladesh soon to attend an annual consultation in Dhaka.
Apart from this, Ukraine is likely to extend support and cooperation through active participation in setting up of power plants, including nuclear power plant, he said.
Besides, the government is set to sign agreement with Switzerland on avoidance of double taxation, as necessary formalities have already been completed, sources said.
They said the negotiation is also underway for signing similar deal with 10 more EU countries including Austria, Cyprus, Finland, Georgia, Greece, Hungary, Ireland, Moldova, Norway, and Russian Federation.
Regarding outcome of signing agreements on economic and trade cooperation, a foreign ministry source said, such an agreement with any country, especially that from the EU, will benefit exporters to a large extent.
Mentioning EU countries as potential market for export of country's frozen food, leather, jute, woven, RMG, he said the signing of ETCA will help country's exporters expand their market.
Besides, economic and trade cooperation agreements will help the country to attract more FDI, as the foreign investors of those nations having the same with Bangladesh will feel secured to invest here, he added.
Bangladesh had earlier signed ETCA with nine EU countries including Belgium, Denmark, Germany, Italy, the Netherlands, Poland, Romania, Sweden and UK.
The government seeking to raise the country's export volume and boost foreign investment has accelerated its initiatives to sign economic and trade cooperation agreement (ETCA) with all European Union countries, sources said.
"We have been asked to complete paper works and proceed soon to sign such agreements," a foreign ministry source said.
He said two separate agreements have already been signed for trade and economic cooperation with Ukraine and Belarus under the fresh initiative.
The source, however, hinted that a Byelorussian business delegation is likely to visit Bangladesh soon to attend an annual consultation in Dhaka.
Apart from this, Ukraine is likely to extend support and cooperation through active participation in setting up of power plants, including nuclear power plant, he said.
Besides, the government is set to sign agreement with Switzerland on avoidance of double taxation, as necessary formalities have already been completed, sources said.
They said the negotiation is also underway for signing similar deal with 10 more EU countries including Austria, Cyprus, Finland, Georgia, Greece, Hungary, Ireland, Moldova, Norway, and Russian Federation.
Regarding outcome of signing agreements on economic and trade cooperation, a foreign ministry source said, such an agreement with any country, especially that from the EU, will benefit exporters to a large extent.
Mentioning EU countries as potential market for export of country's frozen food, leather, jute, woven, RMG, he said the signing of ETCA will help country's exporters expand their market.
Besides, economic and trade cooperation agreements will help the country to attract more FDI, as the foreign investors of those nations having the same with Bangladesh will feel secured to invest here, he added.
Bangladesh had earlier signed ETCA with nine EU countries including Belgium, Denmark, Germany, Italy, the Netherlands, Poland, Romania, Sweden and UK.