UK interested in helping Bangladesh reform its banking, revenue sectors, capital market

The United Kingdom has expressed interest in helping Bangladesh reform its banking and revenue sectors and the capital market.

Finance Adviser Dr Salehuddin Ahmed made this remark after a meeting with the UK High Commissioner Sarah Cooke this morning (27 August) at his office in the Economic Relations Division (ERD) office in Dhaka’s Sher-e-Bangla Nagar area.
  
“Reforming these sectors is an immediate concern for us as our work would be more difficult unless we do those reforms,” he told reporters after the meeting.
 
The adviser said they have discussed enhancing trade and commerce between the two countries.
 
“We want the trade and commerce to flourish. The UK government has been very helpful in the past, and I hope they will be helpful in the coming days. We are looking forward to their help and cooperation,” he said.
 
Cooke and Salehuddin also discussed the cooperation between Bangladesh and the United Kingdom.
 
“The UK is currently working with Bangladesh on economic development and women empowerment, and we will continue those,” Saleuddin said. 
 
“Private sector investment is also very important. Big business houses of Britain have invested here,” he added.
 
Dr Salehuddin said he told the UK to diversify the import items from Bangladesh as Bangladesh only exports RMG items to the UK and the European countries.
 
He also said Bangladesh has to improve its business environment to attract more private investment.
 
“We have to fix the climate of doing business. Otherwise, the private sector will not come,” he said.
 
The British High Commissioner mentioned that the discussion was fruitful and that the UK and Bangladesh have strong economic, trade and investment relations. 
 
“We’re very keen to expand our trade and investment ties, and we also discussed how the UK can support the economic reforms in Bangladesh that the adviser is leading and how we may work together to bring our experts together to discuss the issues of economic reforms and also how we can boost our trade and investment ties between the two countries.”
 
Responding to a question on mobilising more FDI from the UK, she said the UK has a strong partnership with Bangladesh.
 
“We have a strong investment environment. Of course, we would like to see more FDI in Bangladesh,” she added. 
 
The high commissioner said the British investors are responsible, adding, “I discussed with the adviser how we can build investors’ confidence and strengthen our trade and investment ties.”
 
Replying to another question, Sarah Cooke said she discussed with the finance adviser the economic reforms that Bangladesh was prioritising and how the UK can support Bangladesh in this regard.