Foreword from Alison Blake, British High Commissioner to Bangladesh
I am delighted to introduce the Institute of Export’s Doing Business Guide for Bangladesh, which aims to help UK businesses get the information they need to access this young and exciting – and sometimes challenging – market.
Bangladesh, with its population of 162 million people, has been identified as one of the emerging economies of Asia. GDP growth that has averaged 6.45% in the last five years supports the Bangladesh Government’s ambition to achieve middle income country status by 2021.
The UK-Bangladesh partnership is vibrant, deep rooted and diverse. The first UK-Bangladesh Strategic Dialogue in Dhaka this year confirmed the importance both countries attach to the relationship and our shared determination to build even stronger ties, including in trade and investment.
The UK is the second largest source of foreign direct investment in Bangladesh and more than 200 British companies are registered here. These include household names, such as Standard Chartered, HSBC in the banking sector and GlaxoSmithKline in pharmaceuticals, as well as many small and medium-sized enterprises across an impressive range of fields.
Despite a trade imbalance currently in Bangladesh’s favour. British exports to Bangladesh are growing with over £539 million worth of goods and services exported in 2016. UK exports are concentrated in services such as management consultancy and banking. I’m delighted that UK companies are currently advising on some of the largest infrastructure projects in Bangladesh, including the Padma Bridge, Payra Port, Karnafuly Tunnel and the Dhaka Metro.
The Bangladesh market offers some strong advantages for UK companies looking to export; and English is very widely spoken. There are challenges too, including infrastructure, transport and energy supply.
Helping new British entrants find business opportunities in Bangladesh and supporting those companies already here are important roles for the British High Commission Dhaka. My team from the Department of International Trade, would be pleased to support you in doing business in this country, and invite those who haven’t considered Bangladesh yet, to take a close look.
British High Commissioner to Bangladesh
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