FBCCI seeks Swiss investment in SMEs

FE Report | May 01, 2014 00:00:00

The newly appointed Swiss Ambassador to Bangladesh Christian Fotsch holding a meetng with FBCCI President Kazi Akram Uddin Ahmed at the FBCCI recently .

The Federation of Bangladesh Chambers of Commerce & Industry (FBCCI) has sought Swiss investment in small and medium enterprises (SMEs) in Bangladesh as it is the heart of the country's economy.

The FBCCI also stressed the need for increasing bilateral trade and investment which is not significant at this moment, said a press release Tuesday.

FBCCI president Kazi Akram Uddin Ahmed made the proposal when newly- appointed Swiss Ambassador to Bangladesh Christian Fotsch called on him at the FBCCI in the city.

FBCCI first vice-president Monowara Hakim Ali and Director Kazi Shahnewaz were also present at the meeting.

The FBCCI president appreciated role of the Swiss Agency for Development & Cooperation (SDC) in developing employment conditions, promoting income-generating activities and improving local governance. He invited the Swiss small and medium enterprises to invest in Bangladesh

To promote bilateral economic ties and to minimise the trade gap, he requested for arranging regular exchange of business delegations and B2B (business-to- business) meetings.

Kazi Akram also called upon the Swiss Ambassador to help sign a memorandum of understanding (MoU) between the FBCCI and the National Chamber of Commerce & Industry of Switzerland.

Mr Christian Fotsch said he would try to attract Swiss investors to invest in SME sectors in Bangladesh along with large corporate sectors. He also said the Swiss government will continue its supports and cooperation for development of Bangladesh.

In 2012-2013, Bangladesh's export to Switzerland was only US$121.38 million while import from Switzerland stood at around US$185 million.

The major export items to Switzerland from Bangladesh are knitwear, woven garments, frozen food, jute and jute goods, agriculture products, chemicals and import items are mechanical appliances, chemicals and allied industries products, foodstuffs, textiles, vegetables products, optical and medical instruments, plastic and rubber products, pulp of wood and related products.