European firms and folks in Bangladesh are region to launch a industrial chamber to toughen economic ties between Europe and Bangladesh.
The European Union Chamber of Commerce in Bangladesh (EuroCham Bangladesh) has been established to foster collaboration, innovation, and sustainable industrial practices between Bangladesh and European countries.
The launching ceremony is scheduled to be held at a metropolis hotel this day.
Organisers say Lutfey Siddiqi, chief adviser’s special envoy for international affairs, will aid the match as chief visitor whereas Md Abdur Rahman Khan, chairman of the Nationwide Board of Income, and Chowdhury Ashik Mahmud Bin Harun, govt chairman of Bangladesh Funding Pattern Authority, would possibly well be special company.
Michael Miller, ambassador and Head of Delegation of the European Union to Bangladesh, and ambassadors from Spain, France Sweden, Denmark and Italy and fee d’affairs of Germany and The Netherlands are additionally anticipated to aid the match.
The launch underscores European firms’ and folks’ commitment to growing a dynamic platform for bettering replace relatives and fostering mutual pronounce, EuroCham officials say. They emphasise that the initiative marks a well-known milestone within the industrial relationship between Europe and Bangladesh.
Illustrious European entrepreneur Nuria Lopez, the managing director of Zalo Knitting and Arrow Sportswear, has been named because the chamber’s founding chairperson. Nuria, who has been conducting industrial in Bangladesh for over 32 years, previously served because the president of the Spain-Bangladesh Chamber of Commerce and Alternate.
The officials say many European firms and folks judge Bangladesh a luminous funding destination, citing its enormous, ready-to-work labour force and without warning growing economic system. On the opposite hand, they acknowledge that international merchants in total face challenges equivalent to complex company registration processes, energy crises, bureaucratic barriers, and excessive tax structures.
EuroCham goals to aid as a platform the build capacity European merchants can take care of these challenges and look for therapies from the authorities, facilitating smoother funding processes.
In accordance with the European Commission, the EU stays Bangladesh’s predominant procuring and selling associate, accounting for 20.7% of the nation’s total replace in 2023. Bangladesh is a truly mighty beneficiary of the EU’s Every thing Nevertheless Palms initiative, with over 90% of EU imports from Bangladesh being clothes. Conversely, EU exports to Bangladesh in 2023 had been predominantly equipment and chemical products.
The initiative to launch the chamber is predicted to further give a enhance to bilateral replace and entice tall European funding, supporting Bangladesh’s economic pronounce and diversification.
EuroCham founding member Tanvir Ahmed suggested TBS, “EuroCham has been established by the EU Delegation in stop collaboration with the deepest sector as piece of its commitment to fostering stronger replace relatives and attracting elevated European funding.”
He said that the chamber goals to play a necessary characteristic in supporting Bangladesh’s subtle transition after its LDC commencement.
“The chamber launch comes at a pivotal moment in Bangladesh’s historical previous. We eagerly wait for working with the intervening time authorities, led by Prof Yunus, to aid realise its economic reform ambitions,” he added.
Highlighting its significance, Tanvir, who’s additionally the managing director of Sheltech Community and Envoy Textiles Ltd, said, “The chamber will ship a formidable signal to the European industrial community, reaffirming our shared commitment to making Bangladesh a extra stunning destination for funding and industrial actions.”
