Bangladesh invites Pakistani investment in export industries

[Black_cats]

Bangladesh invites Pakistani investment in export industries

Business
Our Correspondent

January 29, 2020
KARACHI: Bangladesh aims to meet a challenging $50 billion export target by 2021 and wants Pakistan to expand its investment partnership with it for making the most of the opportunities available in...

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KARACHI: Bangladesh aims to meet a challenging $50 billion export target by 2021 and wants Pakistan to expand its investment partnership with it for making the most of the opportunities available in the world’s s second largest garments' exporter.

“I invite Pakistani businessmen to import more from Bangladesh,” said Tarik Ahsan, High Commissioner of Bangladesh, in a seminar titled “‘Taking Bangladesh where export and investment grow better” organised by his office at a local hotel. Ahsan said Pakistani companies had significant investment in apparel sector in Bangladesh, while his country had established 100 economic zones for facailitating foreign investment.

Last year, Pakistan’s exports to Bangladesh amounted $744 million, surpassing Bangladesh imports of around $600 million, The Bangladeshi diplomat said there were irregular contacts between the businessmen of the two countries, while they also faced visa issues.

While calling upon the Pakistani businessmen to urge their government to improve relations with Bangladesh’s, he urged the both countries to increase joint economic cooperation.

Noor-E-Helal, Bangladesh’s Deputy High Commissioner in Karachi, gave a detailed presentation on the economic journey of his country. Helal said Bangladesh was now among top 10 fastest growing economies, emerging as role model to many countries of the world.

“With GDP (gross domestic product) of above $275 billion, Bangladesh has become second largest apparel exporter after China.” Besides apparel, sectors like ceramics, medicines, information communication technology, shipbuilding etc were also on the path of rapid growth, he said.

“By 2041, Bangladesh will enter in the list of developed countries,” Helal said. Talking about investment opportunities, he cited the example of Soorty Textile (BD) Limited, which was the single largest apparel company with investment from a Pakistani group and was 100 percent export-oriented with more than 6,000 employees.

Helal said his country offered best utility prices compared to Karachi, Mumbai and other Asian cities. Bangladesh had developed nine export processing zones, which contributed around $7.2 billion in its total exports, said the deputy high commissioner.

“They have Public Private Partnership (PPP) economic zones, private economic zones, government economic zones, government to government (G2G) economic zones as well.” Helal said Bangladesh’s IT sector was 300,000 professional strong.

www.thenews.com.pk/amp/605533-bangladesh-invites-pakistani-investment-in-export-industries

 

[Foxtrot Delta]

Response should be positive and supportive. I hope.

 

[0xDEADBEEF]

Response should be positive and supportive. I hope.

Pakistani group to invest heavily in Bangladesh

KARACHI:

Pakistani textile firms are continually establishing production units in Bangladesh owing to availability of better infrastructure, cheaper utility prices and attractive tax incentives.


“Businessmen from Pakistan have expressed keen interest in investing in Bangladesh. In fact, a Pakistani entity is about to make historic investment in Bangladesh,” revealed Bangladesh Deputy High Commissioner Noor-e-Helal Saifur Rahman.

Speaking at a seminar titled “Talking Bangladesh Where Export and Investment Grow Better” on Tuesday, he pointed out that Soorty Enterprises invested $35 million by setting up a factory in Bangladesh more than five years ago. “The firm now employs 6,000 Bangladeshis,” he added.

“A new group, which we are not disclosing right now, is going to make an even bigger investment,” he said while talking to The Express Tribune on the sidelines of the seminar.

Giving a presentation, he said Bangladesh had planned to develop 100 economic zones nationwide over the next 15 years, which would create 10 million jobs and produce export-oriented goods worth $40 billion.

He underlined that Bangladesh had excellent macroeconomic stability characterised by a high growth rate of 8.13% recorded in 2018 and a satisfactory level of public debt. “It is an open and diverse economy with very cheap labour, almost three times cheaper than Pakistan,” he said. “The country has a strategic geographical position as a gateway to the Asia-Pacific region.”

He added that Bangladesh also enjoyed a strategic and competitive position in the value chain of the global economy and an economic and legislative environment favourable for business.

“We have invited Prime Minister Imran Khan to the upcoming D8 summit and hopefully he will attend the event,” said Saifur Rahman. “Relationships between Pakistan and Bangladesh are improving but still they are not as good as they should be.”

He added that keeping the ground realities in mind, the two countries should proceed slowly but soundly. He pointed out that a massive potential existed to enhance bilateral trade between the two nations.

Also speaking at the seminar, Bangladesh High Commissioner Tarik Ahsan said advancement in political relations between Pakistan and Bangladesh would help improve bilateral business ties.

“Balance of trade between the two countries is lopsided,” said the high commissioner.

According to latest data from the UN Comtrade, Pakistan’s exports to Bangladesh in 2018 were valued at $783.82 million. On the other hand, Pakistan’s imports amounted to $72 million in the same period.

“It is a rare equation for a country like Pakistan which is facing a chronic trade deficit,” said Arif Habib Commodities’ CEO and Managing Director Ahsan Mehanti while commenting on the trade figures.

In the first six months of current fiscal year 2019-20, Pakistan recorded a trade imbalance of $11.7 billion, down 32%, compared to the corresponding period of last year, when it faced a deficit of $16.8 billion.

“Bangladesh is no longer an agrarian economy,” he said. “It has evolved from producing only basic necessities to manufacturing value-added products.”



"so far,so good"


link: http://tribune.com.pk/story/2146095...KowbpHNjRw4dwGDwmAlNyMhpasxYEgy1erxU35u6GNBIA

 

[Kingslayerr]

Jis tarha hamaray business men nay Bangladesh may itna invest kia hai usi tarha bangladesh ko chaiya k ab wo pakistan may investment karain.

 

[xyxmt]

Jis tarha hamaray business men nay Bangladesh may itna invest kia hai usi tarha bangladesh ko chaiya k ab wo pakistan may investment karain.

Hindustan first

 

[Bengal71]

“Relationships between Pakistan and Bangladesh are improving but still they are not as good as they should be.”

He added that keeping the ground realities in mind, the two countries should proceed slowly but soundly.

Sounds like Hasina is making new overtures towards Pakistan? She is a shrewd politician and maybe playing a long game here. Red line above is interesting.

 

[VikingRaider]

Jis tarha hamaray business men nay Bangladesh may itna invest kia hai usi tarha bangladesh ko chaiya k ab wo pakistan may investment karain.

In near future lots of things are going to be changed!

 

[bd_4_ever]

Sounds like Hasina is making new overtures towards Pakistan? She is a shrewd politician and maybe playing a long game here. Red line above is interesting.

Its very obvious, isn't it? An Ambassador would not speak on such matters unless instructed by the government, in our case, particularly Hasina. The fact that he said this clearly indicates something definitely is cooking. As I have always said, despite all her faults, Hasina is an extremely smart women. She knows very well that having good relationship with Pakistan will only benefit BD. And a wise, incontestable starting point will be asking for investment and making money together. One another indication is that Pakistan exports a lot to BD and despite all the rambling by few of our illiterate ministers, this has not subsided. If our government hates Pakistan so much (as claimed by PDF Pakistanis), why would we buy from them and help them out of the economic hellhole they are in? We could have gone elsewhere as we have the money.

The above are hints to people who actually reflect seriously instead of passing a verbal diarrhea without a iota of analytical skills. Politics is not that black and white.

 

[Bengal71]

Its very obvious, isn't it? An Ambassador would not speak on such matters unless instructed by the government, in our case, particularly Hasina. The fact that he said this clearly indicates something definitely is cooking. As I have always said, despite all her faults, Hasina is an extremely smart women. She knows very well that having good relationship with Pakistan will only benefit BD. And a wise, incontestable starting point will be asking for investment and making money together. One another indication is that Pakistan exports a lot to BD and despite all the rambling by few of our illiterate ministers, this has not subsided. If our government hates Pakistan so much (as claimed by PDF Pakistanis), why would we buy from them and help them out of the economic hellhole they are in? We could have gone elsewhere as we have the money.

The above are hints to people who actually reflect seriously instead of passing a verbal diarrhea without a iota of analytical skills. Politics is not that black and white.

He added that keeping the ground realities in mind, the two countries should proceed slowly but soundly.

Very interesting choice of words.

 

[bd_4_ever]

He added that keeping the ground realities in mind, the two countries should proceed slowly but soundly.

Very interesting choice of words.

It is. So much so that, it gives away a lot of hints to the Pakistani establishment. I hope they get the indication and reciprocate "slowly but soundly".

 

[TopCat]

Jis tarha hamaray business men nay Bangladesh may itna invest kia hai usi tarha bangladesh ko chaiya k ab wo pakistan may investment karain.

Bangladeshis are restricted in investing overseas.

 

[Black_cats]

Pakistani group to invest heavily in Bangladesh
By Usman Hanif
Published: January 29, 2020

https://tribune.com.pk/story/2146095/2-pakistani-group-invest-heavily-bangladesh/

Representational image. PHOTO: REUTERS

KARACHI: Pakistani textile firms are continually establishing production units in Bangladesh owing to availability of better infrastructure, cheaper utility prices and attractive tax incentives.

“Businessmen from Pakistan have expressed keen interest in investing in Bangladesh. In fact, a Pakistani entity is about to make historic investment in Bangladesh,” revealed Bangladesh Deputy High Commissioner Noor-e-Helal Saifur Rahman.

Speaking at a seminar titled “Talking Bangladesh Where Export and Investment Grow Better” on Tuesday, he pointed out that Soorty Enterprises invested $35 million by setting up a factory in Bangladesh more than five years ago. “The firm now employs 6,000 Bangladeshis,” he added.




“A new group, which we are not disclosing right now, is going to make an even bigger investment,” he said while talking to The Express Tribune on the sidelines of the seminar.

Giving a presentation, he said Bangladesh had planned to develop 100 economic zones nationwide over the next 15 years, which would create 10 million jobs and produce export-oriented goods worth $40 billion.

He underlined that Bangladesh had excellent macroeconomic stability characterised by a high growth rate of 8.13% recorded in 2018 and a satisfactory level of public debt. “It is an open and diverse economy with very cheap labour, almost three times cheaper than Pakistan,” he said. “The country has a strategic geographical position as a gateway to the Asia-Pacific region.”

He added that Bangladesh also enjoyed a strategic and competitive position in the value chain of the global economy and an economic and legislative environment favourable for business.

“We have invited Prime Minister Imran Khan to the upcoming D8 summit and hopefully he will attend the event,” said Saifur Rahman. “Relationships between Pakistan and Bangladesh are improving but still they are not as good as they should be.”

He added that keeping the ground realities in mind, the two countries should proceed slowly but soundly. He pointed out that a massive potential existed to enhance bilateral trade between the two nations.

Also speaking at the seminar, Bangladesh High Commissioner Tarik Ahsan said advancement in political relations between Pakistan and Bangladesh would help improve bilateral business ties.

“Balance of trade between the two countries is lopsided,” said the high commissioner.

According to latest data from the UN Comtrade, Pakistan’s exports to Bangladesh in 2018 were valued at $783.82 million. On the other hand, Pakistan’s imports amounted to $72 million in the same period.

“It is a rare equation for a country like Pakistan which is facing a chronic trade deficit,” said Arif Habib Commodities’ CEO and Managing Director Ahsan Mehanti while commenting on the trade figures.

In the first six months of current fiscal year 2019-20, Pakistan recorded a trade imbalance of $11.7 billion, down 32%, compared to the corresponding period of last year, when it faced a deficit of $16.8 billion.

“Bangladesh is no longer an agrarian economy,” he said. “It has evolved from producing only basic necessities to manufacturing value-added products.”

Published in The Express Tribune, January 29th, 2020.

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[UKBengali]

Look forward to improving relations between BD and Pakistan.

 

[fallstuff]

Pakistan Exports to Bangladesh of Cotton Pakistan Exports to Bangladesh of Cotton was US$574.68 Million during 2018, according to the United Nations COMTRADE database on international trade. Pakistan Exports to Bangladesh of Cotton - data, historical chart and statistics - was last updated on January of 2020.

https://tradingeconomics.com/pakistan/exports/bangladesh/cotton

 

[Bilal9]

Jis tarha hamaray business men nay Bangladesh may itna invest kia hai usi tarha bangladesh ko chaiya k ab wo pakistan may investment karain.

Beximco from Bangladesh will be the first to invest in Pakistan, if they haven't done so already, probably in the Pharma sector. Though they are well invested in Textiles too. They are in Pakistani retail sector too and have a bunch of outlets selling readymade apparel, brand name is "Yellow". Half of the promoters' family is Pakistani - so it makes sense.

https://yellowclothing.pk/pages/store-locator

https://yellowclothing.pk/collections/new-arrivals