BD to seek more FDI in BCIM forum meeting

Talha Bin Habib | Published: October 22, 2015 00:00:00 | Updated: November 30, 2024 06:01:00

Bangladesh is expected to seek more foreign direct investment (FDI) and bilateral cooperation for developing trade and investment during the two-day BCIM Economic Corridor Development Forum meeting next month in China, officials said.
Besides, the participating countries will also discuss about implementation of Silk Road idea floated by China for mutual benefits of the member-countries. Â
Chengdu Municipal Government and Chengdu Municipal Commission of Commerce in cooperation with the Chengdu Association for Foreign Economic Trade Cooperation (CAFETC) will organise the meeting on November 23-25, 2015 in Chengdu, Sichuan, China.
The forum will focus on the theme "Strengthen the Cooperation of Intercity Economy and Trade Promote the Prosperity of BCIM Economic Corridor".
About 150 foreign delegates including government officials and businessmen of chambers of the four countries will participate in the meeting of the Bangladesh-China-India-Myanmar (BCIM) Economic Corridor Development Forum.
The BCIM region, inhabited by two-fifths of the world's population, contributes one-tenth of the global Gross Domestic Product (GDP).
The participants in the upcoming forum meeting will discuss about economic and investment opportunities and best utilisation of resources in the BCIM countries. Â
The forum also aims to exchange ideas on patterns to achieve prosperity and development of BCIM Economic Corridor.
"We will exchange views on economic development and cooperation and seek more foreign direct investment in Bangladesh during the upcoming meeting with other countries delegates," a high official of the ministry of commerce, who will be among the country's delegates, told the FE. Â
He said Bangladesh has huge potential to attract Chinese investment considering the prevailing pro-investment environment in the country.
He said there will be an important session of the forum that will give the floor to the officials from Bangladesh, India and Myanmar to present promotional drives on investment climate, policy incentives and specific projects, interact with the leading local enterprises and hold business-2- business (B2B) match-making discussions.Â Â
The BCIM Economic Corridor is an initiative conceptualised for significant gains through sub-regional economic cooperation within the BCIM.
The multi-modal corridor will be the first expressway between India and China and will pass through Myanmar and Bangladesh.
The proposed corridor will cover 1.65 million square kilometres, encompassing an estimated 440 million people in China's Yunnan Province, Bangladesh, Myanmar and Bihar in northern India through a combination of road, rail, water and air linkages in the region.
This interconnectedness will facilitate cross-border flow of people and goods, minimise overland trade obstacles, ensure greater market access and increase multilateral trade.
talhabinhabib@yahoo.com