Tofail upbeat on attaining mid-income status

Commerce Minister Tofail Ahmed Saturday expressed the hope that Bangladesh would turn into a middle-income country by 2021, saying that no conspiracy could stand in the way of its progress.
"We see a bright future of Bangladesh. It is growing, will grow and will be a middle-income country by 2021. There is no doubt about it," he said while inaugurating a two-day 'Showcase Canada-2015' at a city hotel.
Canada Bangladesh Chamber of Commerce and Industry (CanCham) in association with the government of Canada has organised the two-day education and trade fair for the third time aiming to accelerate the economic growth of Canada and Bangladesh through trade and investment.
Canadian High Commissioner to Bangladesh Benoit-Pierre Laramee, FBCCI President Kazi Akram Uddin Ahmed and CanCham President Masud Rahman also spoke at the inaugural session.
Referring to the forecast of world renowned research agencies, the commerce minister said Bangladesh would no longer remain a least developed country and it would turn into a middle-income country if all work together.
Bangladesh would hold its head high at the global stage as a dignified and self-respected nation, he said, adding that the trade and education fair would help bring the people working closer in Bangladesh and Canada.
Mr. Tofail also hoped, "The showcase will be pivotal to boost trade between the two countries and help take the relationship to new heights."
Speaking on the occasion, Mr. Laramee said there are many opportunities for Bangladeshi and Canadian businesses to find mutually beneficial areas of cooperation and trade which is underpinned by the duty-free access that Canada grants to almost all Bangladeshi exports.
Mentioning that Canada is open for business for Bangladeshis, he said: "Some of the Bangladeshi sectors that we believe will have a comparative advantage in Canada include ready-made garments, porcelain, jute and quality jute goods, and ceramic tableware and kitchenware."
Citing its LDC tariff programme through which Canada offers duty- free access to Bangladesh, the high commissioner said support to exporters is also being offered through the Trade Facilitation Office (TFO).
"Among all the developing countries in the world, Bangladesh is one of only 25 countries that have been selected for support by the TFO," Mr. Laramee added.
A total of 32 firms are participating at Showcase Canada.
Canada-Bangladesh bilateral trade surpassed Canadian $ 1.9 billion in 2014 and it is expected to cross Canadian $ 2 billion by 2015. In last 10 years, volume of trade has grown by over 300 per cent. During the period, Bangladesh has become the second largest source of Canadian merchandise imports from South Asia after India.

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