Czech Republic will invest in Bangladesh, inks deal for trade

BDApparelNews Desk
23 May 2019  

Karel Havlicek, commerce and industries minister for Czech Republic, and Bangladesh’s Commerce Minister Tipu Munshi signing the agreement in Prague on May 21, 2019. Photo Courtesy: PID

Karel Havlicek, commerce and industries minister for Czech Republic, and Bangladesh’s Commerce Minister Tipu Munshi signing the agreement in Prague on May 21, 2019. Photo Courtesy: PID

Czech Republic has expressed interest in investing in a number of growing sectors in Bangladesh, including power generation and education.

Karel Havlicek, commerce and industries minister for Czech Republic, conveyed the interest while meeting Bangladesh’s Commerce Minister Tipu Munshi in Prague on May 21, 2019, said a press release issued by commerce ministry on May 22, 2019.

Both countries also signed an agreement on ‘Trade Promotion and Economic Cooperation’. Ministers of both countries signed the agreement on behalf of respective sides. This deal is aimed towards forming a joint commission to boost bilateral trade.

Czech Minister Karel Havlicek lauded Bangladesh Prime Minister Sheikh Hasina’s leadership in taking the country forward and cast invaluable importance to ties between the two countries.

He expressed interest in cooperation in Bangladesh’s power generation sector, education and training, information and communication technology (ICT) and jute-made products.

Commerce Minister Tipu Munshi upheld that Bangladesh is currently the most ideal place for investment in South Asia. “Bangladesh has taken liberal policies for foreign direct investment (FDI). Our Prime Minister Sheikh Hasina is developing 100 special economic zones (SEZs) in different parts of the country.”

He said investors from Czech Republic can invest in these economic zones and reap the benefit of duty-free exports to European Union. Minister Munshi urged Czech to invest in apparel, leather goods, pharmaceuticals, ICT, and light engineering sectors.