Bangladesh Prime Minister H E Sheikh Hasina addressing the gathering.
Bangladesh which is on track to be a $500bn economy and currently one of the fastest growing economies could partner with Qatar in its Vision 2030 and be a part of its economic journey said Bangladesh Prime Minister H E Sheikh Hasina addressing an investment summit titled ‘The Rise of the Bengal Tiger: The Potential of Trade and Investment in Bangladesh’ at the St. Regis Hotel, Doha yesterday.
“The country’s young, energetic and talented work-force can be a major partner in Qatar’s vibrant economy,” she said stressing on the meteoric rise of Bangladesh’s economy from a backward economy to a leading economy in South East Asia today. The current $ 426bn GDP of Bangladesh doubled in the last six years with an average seven percent annual growth rate in the last decade. The country’s per capita national income has reached $ 2,824 from $860 in 2011. Bangladesh is on its way to being the 25th largest economy by 2035 from its current ranking of 41st largest economy.
Bangladesh has turned its large population into a great resource which is currently enjoying a huge demographic dividend with a 70 million workforce, 55 million youth and an unbeatable record of gender parity.
“As Bangladesh is on track to graduate from a least developed country to a middle-income nation it has opened doors for private sector investments in the country,” the Bangladesh Premier said adding that the country is investing heavily in the infrastructure development and sectors such as logistics and connectivity.
H E Hasina stressed the strong relations between her country and Qatar expressing her aspiration for further development in relations during the coming years.
She indicated that her country offers tremendous incentives and facilities for investors, affirming the strong performance of the Bangladeshi economy and the significant growth of the GDP despite the repercussions of the Covid-19 pandemic on the global economy.
Having presented the country’s arduous but determined journey toward economic excellence the Bangladeshi Premier called upon Qatar to look at her country for expanding trade and investments which will further strengthen bilateral relations between the two countries.
Chairman (Senior Secretary) Bangladesh Securities and Exchange Commission Prof. Shibli Rubayat-Ul-Islam said Qatar Bangladesg realtions have been very strong and there are many reas that both countries could explore to further firm up trade and investment ties between the two countries.
“Around 400,000 Bangladeshis are employed across a range of sectors in Qatar playing a pivotal role in the state’s economy,” he said.
The bilateral trade between Bangladesh and Qatar stood around $243.00m in 2017-2018. Bangladesh mainly exports frozen food, processed food items, fruits and vegetables, tea and garments to Qatar while it imports urea fertiliser from Qatar. Bangladesh imports 800,000 metric tons of urea fertilizer from Qatar Fertilizer Company Limited (QAFCO) annually under a Memorandum of Understanding inked between the two countries in 2009.
Bangladesh opened its diplomatic mission in Doha in 1975 which was reciprocated by Qatar with the opening of its mission in Dhaka in 1982.
Bilateral relations between the two countries are based on mutual respect, shared values, common religious ground, shared culture and tradition. People to people contacts bolstered by more than four hundred thousand Bangladeshi workers who are highly appreciated as disciplined and hardworking is one of the dominant features of the bilateral relations.
The relations have witnessed a visible progress in recent years through regular bilateral visits, increase of manpower export, substantive engagements, and common position on regional and international issues and close cooperation in the international arena to promote peace, stability and development.
The investment summit organised by the Bangladesh Forum Qatar (BFQ), a non-profit, non-political business forum registered under the Qatar Financial Center (QFC) showcased a wide range of portfolio investment opportunities in various thriving sectors of Bangladesh such as startups and fintech, infrastructure, tourism, eco-parks, hi-tech industries, shipbuilding, leather goods, and many more.
