Commerce Minister seeks more investment from UK

Commerce Minister Khandaker Abdul Muktadir today sought enhanced investment from the UK especially in Bangladesh's tea, fertilizer and ICT sectors.

Muktadir made the request when British High Commissioner to Bangladesh Sarah Cooke met him at his office at Bangladesh Secretariat in the capital today.

During the meeting, both sides emphasized strengthening existing trade ties between the two countries and explored potential areas for new investment, said a Commerce Ministry press release.

The Commerce Minister said Bangladesh is keen to work with the United Kingdom to ensure mutual benefits through effective and sustainable economic cooperation.

He highlighted the need for British investment to modernize and boost production in the tea industry in Sylhet, noting that the region's tea gardens hold significant investment potential. Referring to the UK's historical involvement in Bangladesh's tea sector, he said increased investment would generate more employment opportunities and thus contribute to the development of tourism.

Muktadir also pointed out that fertilizer factories in Bangladesh cannot operate year-round due to gas shortages. He stressed the need for foreign investment to enable year-round operations through the use of LPG. In this regard, he invited British investors to invest in fertilizer plants as well as in the country's rapidly growing information and communication technology (ICT) sector.

High Commissioner Sarah Cooke expressed her commitment to advancing the long- standing trade partnership between the two countries. She also showed interest in supporting capacity building of officials associated with the Ministry of Commerce's Trade Negotiation Pool.

The UK envoy expressed particular interest in investing in Sylhet's tea gardens, seafood, leather processing, export diversification and light engineering industries, saying British investors are keen to explore opportunities in these sectors.

State Minister for Commerce Md. Shariful Alam, Commerce Secretary Mahbubur Rahman and Additional Secretary (Export) Md. Abdur Rahim Khan were present at the meeting.