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The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Canadian Hindu Chamber of Commerce (CHCC) will work together to enhance bilateral trade between Bangladesh and Canada.
Top office-bearers of the country's apex trade body and the CHCC reached an agreement to this effect during a networking dinner at a city hotel on Thursday, says a statement.
The FBCCI will provide all kinds of support to Canadian investors interested in investing in Bangladesh.
The FBCCI hosted the networking dinner in honour of the visiting delegation of the Canadian Hindu Chamber.
Businessmen and entrepreneurs from both the countries participated in a Business-to-Business (B2B) meeting before the networking dinner.
Speaking on the occasion, FBCCI President Mahbubul Alam called upon the Canadian Hindu business community to invest in Bangladesh.
"The government of Bangladesh has formulated a favourable investment policy with tax exemption, duty drawback, access to working capital, one-stop services, and many more to attract local and foreign investors," the FBCCI chief said.
The key development initiatives include deep-sea ports, 100 special economic zones, hi-tech parks, tourism parks, nuclear power plants, LNG terminals, and construction of a railway network.
"This year marks the 52nd year of bilateral relations between Canada and Bangladesh. Canada has become the key development partner of Bangladesh and shares a number of multilateral interests, including trade liberalisation in the WTO, support for international peacekeeping, and membership in the United Nations and the Commonwealth," Mr Mahbubul Alam added.
The FBCCI president invited Canadian entrepreneurs to invest in the special economic zones, logistics, renewable energy, aviation and shipping, hi-tech RMG, diversified jute and leather products, and the tourism sector of Bangladesh.
He said there is a huge scope for expanding Bangladesh's export to Canada, including diversified jute and leather goods, footwear, pharmaceutical products, plastic furniture, home textiles, ceramic products, light engineering, electronic products, etc.
"Under the visionary leadership of Prime Minister Sheikh Hasina, Bangladesh's economy has progressed a lot. Bangladesh is now considered as one of the leading business and investment destinations for South and Southeast Asia," he added.
CHCC president Nareshkumar Narayanbhai Chavda, who led the delegation, lauded the widespread development Bangladesh has achieved in recent years.
He said Bangladesh and Canada have enjoyed a tremendous business relationship over the years.
"There are many good opportunities between Bangladesh and Canada. Like FBCCI in Bangladesh, CHCC also has vast membership in Canada," he added.
"Both FBCCI and CHCC can utilise the opportunities to enhance business between the two countries," he said and also invited leaders of the FBCCI to visit Canada.
FBCCI Senior Vice President Md Amin Helaly, Vice President Md Khairul Huda Chopol, Mohammad Anwar Sadat Sarker, Dr Joshoda Jibon Deb Nath, Md. Munir Hossain, FBCCI directors, and business dignitaries were present at the event, among others.