A delegation of the Bangladesh International Chamber of Commerce met with representatives of the Australian Trade and Investment Commission in Sydney and discussed the promotion of trade and investment between the two countries .
ICC President Bangladesh, Mahbubur Rahman, led the delegation at the meeting on 20 September, the chamber said in a statement yesterday.
During the meeting, discussions were held on the promotion of trade and private sector investment in both countries.
A number of areas, including the export of clothing, pharmaceuticals and leather products were discussed.
Rahman informed Austrade officials that Bangladesh will set up 100 special economic zones and allowed the private sector to establish SEZs.
He said that South Korea has already set up an export processing zone. China, India and Japan are also setting up exclusive zones.
So, Australia can take advantage of setting up such an area and benefit from extensive facilities by Bangladesh, he said. "In addition, there are vast investment opportunities in infrastructure, including energy."
Kazi Imtiaz Hossain, the grand commissioner of Bangladesh in Australia, said that Bangladesh had the most favorable investment policies.
Liu Bing, general manager for Asia of Austrade, thanked the ICCB delegation and the high commission to visit the Austrade office and give them the " opportunity to exchange views and discuss areas where Australian companies could explore investment opportunities in Bangladesh.
ICCB delegates expressed the interest of increasing cotton imports from Australia to the garment industries, to establish joint health facilities and to invest in Australia for cotton growing to be exported to Bangladesh.
Vice President of the ICC Bangladesh, Rokia Afzal Rahman, Executive Member AK Azad and Md Fazlul Hoque, Secretary General Ataur Rahman, and Parveen Mahmud, President of MIDAS, and Farida Yasmeen, First Secretary of the High Commission.
Deputy Director of Austrade, Kavitha Kasynathan, Senior Trade Adviser Abdul Ekram, and Trade Advisors Joel Smouha and Sam Guedouard were also present.
The ICCB delegation traveled to Sydney to attend the 10th Congress of the Chambers of the World from 19 to 21 September.