Welcome from Lesley Batchelor OBE, FIEx (Grad) - Director General, Institute of Export & International Trade
This Doing Business in Bangladesh Guide is designed to introduce you to this complex market of over 162,900,000 people. They joined the Commonwealth in 1972 and from the mid-1990s governments have consistently advocated free market policies and privatisation of more than 60 state owned enterprises which obviously attracts overseas investment. Focus is on areas as diverse as manufacturing, agriculture, transport and communications in terms of divestment however, these offer long-term propositions and should only be approached as part of a long-term plan with support from UKEF and DIT wherever possible.
GDP growth sits at 7.11% (2016) and economic policy has targeted poverty with programmes aimed at increasing food production and expanding education, while developing an industrial and technological base, which sounds difficult however, if you are in food production technologies or supply of education services on a mass delivery basis, these could prove to be great opportunities.
The propensity to flooding and cyclones leaves it vulnerable although, having said that, they nevertheless achieved economic growth averaging around 4% per annum from the 1970s. It also has huge reserves of natural gas (estimated at 300 billion cubic metres in January 2014). Bangladesh is not a first market for new exporters but definitely a country that with help could become a great partner.
Good luck and don’t forget that the Institute is always there to help on your journey alongside UKEF and the DIT.
Lesley Batchelor OBE, FIEx (Grad)
Director General - Institute of Export & International Trade
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