Commonwealth Trade and Investment Forum, an initiative of the Commonwealth Enterprise and Investment Council (CWEIC), has opened an office in Dhaka on Tuesday to facilitate trade and investment in Bangladesh. 

CWEIC Chairman Lord Marland and Prime Minister’s Advisor Salman F Rahman inaugurated the liaison office in Baridhara J Block in the capital, said a media release.

Addressing the function, Lord Marland said, “Bangladesh is well-positioned to tap into the global business network and leverage its economic potential to drive growth and development. The Commonwealth is home to 2.5 billion people and includes both advanced economies and developing countries. Despite the Commonwealth not being a formal trading bloc, the member countries benefit from a substantial trade advantage.”

He mentioned that the office will facilitate local businesses to avail an array of trade and investment opportunities from the Commonwealth.

In his speech, Salman F Rahman recalled the historical legacy of Bangabandhu Sheikh Mujibur Rahman to join the Commonwealth with the dream of cooperation immediately after the independence of the country.

“Bangladesh has become a development miracle in the world by keeping stable growth over the last decade. The country is graduating from least developed country groups within a couple of years. In this context, the Commonwealth office in Dhaka for trade and investment facilitation holds a big meaning for the economy,” he said.

Salman further mentioned that the Commonwealth has strong economies like Australia, Canada, and India to support diverse industries of mining, manufacturing, and technology across other member countries. Bangladesh is hosting the Commonwealth Trade and Investment Forum for the first time.

CWEIC’s network includes around 150 businesses and governments including Standard Chartered, Zenith Bank, Trade and Investment Queensland and the Government of the Maldives from 35 countries and territories.

Commonwealth of Nations, often simply referred to as the Commonwealth, is an international association of 56 member states, the vast majority of which are former territories of the British Empire, it added.

Bd-pratidin English/Golam Rosul