‘Development Fair’ showcases BD’s uplift, its economic ties with Pakistan

KARACHI: Bangladesh Deputy High Commission here arranged a weeklong “Development Fair” from 7-13 December 2023 to showcase Bangladesh and her recent developments and to promote economic relations of Bangladesh with Pakistan.

The fair was arranged at the Chancery premises and around 400 persons visited the weeklong fair. The Mission warmly welcomed visitors to the fair.

Under the charismatic and dynamic leadership of Prime Minister Sheikh Hasina, Bangladesh has become a ‘role model’ of socioeconomic development in the world. Bangladesh is currently among the five fastest growing economies in the world, ranking 35thin terms of GDP.

Bangladesh has fulfilled all the criteria for the graduation to developing country from the LDC status and has been confirmed to be graduated from the LDC in 2026. The present per capita income of Bangladesh is $2824.

At the weeklong fair the visitors were briefed on mega projects. Arrangements were also made for audio-visual presentations. There were question& answer sessions and promotional materials were on display for wider trade and business relations.

There were displays of mega projects or other development initiatives such as the Padma Bridge, Dhaka Metro Rail, Bangabandhu Sheikh Mujibur Rahman Karnaphuli River Tunnel, Elevated Expressway in Dhaka, the3rd Terminal at Hazrat Shahjalal International Airport, Rooppur Nuclear Power Plant, 564 Model Masjid and Islamic Cultural Centers across Bangladesh, Deep-Sea Port, Bangabandhu Satellite-1, Free Text Book distribution and so forth.

At the inaugural on 7 December and concluding ceremonies on 13 December 2023 the Deputy High Commissioner S M Mahbubul Alam mentioned that Bangladesh has been achieving impressive socio-economic progress.

In Bangladesh the current primary enrollment rate is almost 100 percent, electricity coverage is 100 percent, and children vaccination is 100 percent, he added.

The literacy rate is around 80 percent. Self-sufficient in food production. Bangladesh is the 2nd in RMG production and export. Over 15 million Bangladesh nationals live in over 180 countries and Bangladesh is 8th in Remittance receipt amounting over $25 billion a year. Bangladesh’s foreign currency reserve reached up to $48 billion.

Total annual Exports of Bangladesh is over $55 billion. Bangladesh has been working hard for the annual export of $100 billion by 2030.Bangladesh has remarkable development in women education and women empowerment, ensuring social safety nets, digitization and technology, overall living standard, health care services, agriculture, SMEs, and so forth. Government of Bangladesh has been pursuing a holistic and comprehensive development master plan.

Deputy High Commissioner also briefed that Bangladesh has been working to establish 100 Specialized Economic Zones (SEZs) across the country with foreign investment friendly policies.

The extraordinary communication networks, cheaper electricity and production costs and quality and on-stop services are the advantageous factors for profitable and the most competitive environment for foreign investments, trade and business in Bangladesh.

He invited the potential investors, industrialist, entrepreneurs and businesspersons from Pakistan to invest in Bangladesh and to import products from Bangladesh.

Deputy High Commissioner mentioned that Bangladesh will a trillion dollar Economy and the 9th largest consumer market in the world by 2041. Government of Bangladesh has been striving hard to implement “Vision-2041” to turn Bangladesh into an upper middle-income country by 2031 and Developed and Smart Bangladesh by 2041 and building a prosperous and climate-resilient delta by 2100.

Copyright Business Recorder, 2023