Bangladesh team to study mutual business prospects in Kingdom

The Bangladesh consulate in Jeddah is working to establish channels of communication between the trading communities in the port cities of Jeddah and Chittagong.
A senior delegation is expected to visit the Kingdom soon to explore business opportunities in both countries, said Mohammed Nazmul Islam, consul general of Bangladesh in Jeddah.
Chittagong is a strategic port in Asia and the business hub of Bangladesh while Jeddah is an important port on the Red Sea.
Nazmul Islam stated that Chittagong is strategically located sharing borders with Burma, China and India while the landlocked neighbors such as Nepal and Bhutan need the port as an entry point for cargo to be transported to their countries.
Besides these two countries, the emerging economic giant India also wants access to Chittagong to send goods to its seven northeastern states.
The top priorities, which will be explored in the proposed visit by the Bangladesh delegation, will be garments, pharmaceuticals and the manpower sectors, Islam said.
The Bangladesh consul general visited the Makkah Chamber of Commerce and Industry on Wednesday to meet with officials to discuss the strengthening of business ties between the two countries. Islam was received by MCCI Vice President Mazin bin Fuad Tunsi and presented him with a memento.
The MCCI will play an important role in developing business channels between the two countries, Islam added.
“Bangladesh is expecting to receive positive news from the Kingdom in terms of manpower recruitment from Bangladesh,” he added.
Islam confirmed that the recruitment process is expected to take place soon and that the Bangladesh Embassy in Riyadh has been working closely with Saudi authorities in this regard.
Bangladesh is one of the few countries where the Haj pilgrimage costs did not surge compared to other countries owing to its strong economy.
In the last five years, its GDP has grown at an average rate of 6.3 percent per year, in the midst of one of the worst global downturns in recent times.
It has achieved its 2015 UN Millennium Development Goals two years in advance. In 2013, it had brought down the number of poor to less than 30 percent of its population — a target set for 2015 by the UN.
In most indices of human development, especially gender-related, Bangladesh has surged miles (in some cases, yards) ahead of India and other south Asian nations. Where India is unable to manage its spiraling current account deficit, Bangladesh sits on a comfortable current account surplus of $2.57 billion for the first time in history since independence.

More from Chittagong

Turn Chittagong into a global port city :Ctg holds key to country’s growth

Experts from different backgrounds have recommended six urgent tasks to turn Chittagong into a global port city which will drive the country’s economic growth. The suggestions came from a two-day economic conference “Future Chittagong, Future Bangladesh” organised by The Daily … read more

Prime Minister Sheikh Hasina at Chittagong !!-a better Bangladesh better Chittagong .

Prime Minister Sheikh Hasina has warmly received by Chittagong people, She commit here for a better Bangladesh better Chittagong . “Development activities gain momentum when the Awami League comes to power. None except the Awami League attaches priority to the development of Chittagong,” she … read more

Asian University For Women Faces Problems and Flak

The Asian University for Women in Bangladesh, the dream of a U.S. lawyer of Bangladeshi origin called Muktadir Kamal Ahmad, is facing a nightmare of negative publicity. The university opened its doors in 2008 in Chittagong, Bangladesh, to offer liberal … read more

Bangladesh as a “New Horizon for investment”.

Socio-economic development is essential in order to reduce poverty in developing countries and to improve people’s living standards. Investment plays an important role in the socio-economic development of a country. The contribution of Foreign Direct Investment (FDI) is very significant … read more

Lanka offers Bangladesh to use H’tota sea port .

Sri Lanka offered Bangladesh to use seaport at Hambantota which will be helpful for us, Bangladesh Finance Minister A. M. A Muhitha said. “Let’s explore the benefit since Hambantota port users wouldn’t need to go inside the Colombo. That will … read more

Oli, Ctg AL file cases over attack

Three separate cases were filed Thursday night in connection with the attack on LDP chief Col (retd) Oli Ahmed allegedly by BCL workers. Two cases were filed by Chittagong Awami League while another by Col Oli. Abul Klam Azad, officer-in-charge … read more

Chittagong Hill Tracts: Indigenous People Or Ethnic Minority?

As every year, the Chittagong Hill Tracts Development Facility (CHTDF), UNDP-Bangladesh is going to organise Cultural Diversity Festival 2011 this year over a one week period from 2 December to 8 December 2011 in Dhaka. Though UNDP-CHTDF used the word … read more

Thousands of homebound people have been stuck in a 60-km traffic tailback on the Dhaka-Chittagong highway.

60-km tailback on Dhaka-Ctg highway ahead of Eid-ul-Azha. Since Thursday morning hundreds of passenger buses and cattle carrying trucks remain stagnant on both sides of the highway starting from Comilla Cantonment to Meghna Bridge as road repairing works were underway, … read more

Dhaka, Beijing talk :China to build Ctg-Kunming road, rail link

China will construct road and railway link between Chittagong and Kunming via Myanmar to boost Sino-Bangladesh cooperation.Bangladesh and China agree that the governments of the two countries and Myanmar need to work together for Chittagong and Kunming connectivity. The point … read more