ZCZC
BSS-31
FBCCI-SOUTH AFRICA
FBCCI discusses investment opportunities with South Africa’s chamber of
commerce
DHAKA, Sept 29, 2020 (BSS) – To discuss opportunities on trade and
investment between Bangladesh and South Africa, the Federation of Bangladesh
Chamber of Commerce and Industries (FBCCI) today took part in a cloud
conference titled, ‘Bilateral Trade and Investment Opportunities in the
Ongoing Global Pandemic and Beyond’ alongside the Durban Chamber of Commerce
and Industries (DCCI).
FBCCI President Sheikh Fazle Fahim, FBCCI Vice President Siddiqur Rahman,
DCCI President Nigel Ward and CEO of DCCI Palesa Phili addressed the cloud
conference discussing collaboration to boost both economies in a post-
pandemic world, said a press release.
Thanking the Durban Chamber for its cooperation, Sheikh Fazle Fahim stated,
“This year marks the 100th birth centenary of the Father of the Nation
Bangabandhu Sheikh Mujibur Rahman. Today’s program commemorates his legacy
and is a part of our ongoing international engagements with 129 globally
strategic partner organizations in 51 countries.”
Highlighting the bilateral trade in FY 2019-20 that amounted for US$24
million between the two nations he underlined prospects that the two apex
trade bodies can pursue together in Pharma, ICT, FMCG, home appliances, while
also proposing to improve the banking, shipping and communication channels to
complement trade growth.
Highlighting FBCCI’s advocacies in its continuous engagements in complement
to the government’s response he said, “As we navigate the next normal, we are
confident in our economy as it is demonstrating strong recovery trend with
GDP growth and remittance growth and FOREX reserve growth. We successfully
solicited targeted roadmap to recovery in a broad spectrum of socio-economic
agenda through proactive advocacies with both our national and international
stakeholders.”
Highlighting Bangladesh’s success and development even during an
unprecedented pandemic Fahim further stated, “Comparing compliant markets and
transitioning economies like Bangladesh’s ROI makes us an attractive
destination with IP protection in place for technology transfer. South
African investors can tap into Bangladesh’s production competitive edge,
domestic consumer base and regional market access that are Duty Free Quota
Free (DFQF) to India, China, EU, Canada, Australia, APTA, etc.”
“Utilizing on incentives we are also keen in exploring bilateral value
chain initiative through joint ventures in mining, electronics, automobile
and motorbike industry component manufacturing, agriculture, fisheries and
blue economy cooperation, service cooperation in shipping, tourism, higher
learning, and finance,” he added.
Underscoring the importance of two-way investment and access to markets the
President of DCCI said, “At the Durban Chamber, we have the capacity and the
willingness to connect our members to the members of the Federation of
Bangladesh Chambers of Commerce and Industry (FBCCI). I look forward to our
two organizations reigniting our MOA to reflect few but concrete and
achievable projects that will make a real and mutual difference for our
members.”
Specifying a few sectors of interest, the CEO of DCCI stated, “Facilitating
international business for our members is one of the core mandates of the
Durban Chamber and we are glad to see the opportunities that exist for our
members in Bangladesh in to facilitating some concrete business matchmaking
going forward.
Going forward, it will be important for the technical trade and investment
teams from DCCI and FBCCI to collaborate and rebuild a more robust and
practical agreement between us,” she added.
Thanking the participants of the cloud conference, the Vice President of
FBCCI said, “As we move ahead in recovering our economy, we look forward to
closely work with our South-African counterpart and the DCCI in strengthening
our economic ties.”
The President of FBCCI further assured of reverting back to DCCI on how
they can engage together on a concrete manner in areas of shipbuilding,
automobile industry, chemical and ocean economy.
BSS/PR/KUC/FI/ 1730 hrs