The International Chamber of Commerce Bangladesh (ICCB) called on Australian entrepreneurs to set up an export processing zone in Bangladesh and take the advantage of the facilities extended by the government.
The ICC Bangladesh made the call when it's delegation held a meeting with officials of Austrade in Sydney on September 20.
A 14-member delegation, led by ICC Bangladesh President Mahbubur Rahman, was in Sydney for attending the 10th World Chambers Congress held on 19-21 September, says a press release.
Mahbbur Rahman, also Eastland Insurance Chairman, said Australian investors can take the advantage of setting up export processing zone in Bangladesh.
Mentioning the government's decision of allowing private export processing zones, he said that South Korea already set up an export processing zone.
Exclusive export processing zones are also going to be set up by China, India and Japan.
Bangladesh High Commissioner to Australia Kazi Imtiaz Hossain briefed the Austrade officials about the government policies for attracting Foreign Direct Investment (FDI).
He mentioned that Bangladesh has most favourable investment policies and 100 per cent ownership and repatriation of profits by foreign investors.
He said that Bangladesh High Commission will welcome visit by Australian Trade Delegation to Bangladesh to explore investment opportunities.
General Manager Asia of Austrade Liu Bing thanked the delegation for visiting Austrade office and giving opportunity of exchanging views on the possibilities of investment in Bangladesh.
ICC Bangladesh delegation members expressed the interest for increasing cotton imports from Australia for the garment industries.
They also expressed interest on setting healthcare facilities jointly with Australia, investment in Australia for cotton cultivation for exporting to Bangladesh.
Mahbubur Rahman suggested to Austrade for arranging a visit by a business delegation from Australia to Bangladesh to explore possible areas of investment and also promotion of trade.
ICC Bangladesh Vice President and Arlinks Limited Chairman Rokia Afzal Rahman, ICC Bangladesh Executive Board Member and Hameem Group Managing Director A.K. Azad; ICC Bangladesh Executive Board Member & Managing Director of Plummy Fashions Md. Fazlul Hoque, Chairman of MIDAS & Shasha Denims and Grameen Telecom Trust Managing Director Parveen Mahmud, ICC Bangladesh Secretary General Ataur Rahman and First Secretary of Bangladesh High Commission in Australia Ms. Farida Yasmeen, attended the meeting.
From Austrade side, the meeting was attended by Kavitha Kasynathan, Assistant Director of Department of Foreign Affairs and Trade; Joel Smouha, Austrade Trade Advisor (Advisory Services and Consumer); Sam Guedouard, Trade Advisor (Food & Agriculture- Meat and Grains); Abdul Ekram, Senior Trade Advisor (International Health) and Jessica Harrison, Executive Officer for Asia International Operations Group.