The United Kingdom is keen to assist Bangladesh with reforms in its banking, revenue sectors, and capital markets.

Finance Adviser Dr. Salehuddin Ahmed shared this after a meeting with UK High Commissioner Sarah Cooke on 27 August at the Economic Relations Division (ERD) office in Sher-e-Bangla Nagar, Dhaka.

“Reforming these sectors is an immediate concern for us. Our work will be more difficult unless we do those reforms,” Dr. Salehuddin told reporters after the meeting.

They also discussed strengthening trade and commerce between the two countries. “We want trade and commerce to flourish. The UK government has been very helpful in the past, and I hope they will continue to be in the future,” he said.

The conversation also touched on ongoing cooperation between Bangladesh and the UK. Dr. Salehuddin highlighted the UK’s contributions to economic development and women empowerment, adding that private sector investment remains vital, with British businesses already having a presence in Bangladesh.

He suggested that the UK diversify its imports from Bangladesh, which currently focuses on RMG products. Additionally, he emphasized the need for Bangladesh to improve its business environment to attract more private investment. “We have to fix the climate of doing business. Otherwise, the private sector will not come,” he added.

High Commissioner Cooke described the meeting as productive, reiterating the strong economic ties between the two nations. “We’re very keen to expand our trade and investment ties, and we discussed how the UK can support the economic reforms in Bangladesh,” she said.

Regarding foreign direct investment (FDI), Cooke mentioned the UK’s strong partnership with Bangladesh and the potential to increase FDI. “British investors are responsible, and we discussed how to build investor confidence and strengthen our trade and investment ties,” she added.

Cooke also mentioned discussions on how the UK could assist with Bangladesh’s prioritized economic reforms.

Source: The Business Standard