PM for doubling Dhaka-Paris bilateral trade

Laying emphasis on doubling bilateral trade volume by 2025, Prime Minister Sheikh Hasina invited French businessmen to boost their investment in Bangladesh as the country sits at a strategic location among major economic centers in the Indo-Pacific region.

The Prime Minister made the remarks while addressing a meeting with the business leaders of MEDEF International at the Place of Residence in France.

“French investment in Bangladesh is still modest compared to its global footprint. I invite French investors to witness first-hand the opportunities in Bangladesh,” she said.

She said Bangladesh’s Investment Promotion Agency (BIDA) is directly reporting to her office and it will be happy to support French investors in any way possible.

She advised, “You may wish to find a local partner to make your entry easier, and you would be well advised to build a partnership with Bangladesh in the long term.”

Bilateral trade between Bangladesh and France is growing steadily. The two-way trade stands close to 2 billion US dollars, she added. 

Mentioning that France is now Bangladesh’s 5th largest export destination, she said, “We must aim to double the volume of bilateral trade by 2025. Our export to France also needs to diversify further.”

She thanked MEDEF for setting up a Bangladesh-France Business Council.

“We would encourage further bilateral engagements through institutional linkages. The MEDEF business mission to Bangladesh can be planned in connection with next year’s celebrations of the 50th anniversary of our diplomatic relations,” she said.

Referring to her talks with President Macron and also with the French Prime Minister, she said they have agreed to take the bilateral Relations to new heights.

“This should be reflected in our economic partnership as well. I look forward to your active cooperation in making that happen,” she added.

The Prime Minister said in the last decade, Bangladesh’s economy grew at an average rate of six percent with 8.52 percent growth in 2018-19.

Even during the COVID-19 pandemic, she said the economy posted a growth rate of 5.21 percent, the highest in the Asia-Pacific.

She mentioned Bangladesh’s US $310 billion economy is now the world’s 41st largest in nominal GDP and the per capita income has been revised upwards to the US $2,554.

Sheikh Hasina said Bangladesh’s notable progress in the social sector is a result of the government’s inclusive development policies.

ARR