CaPtAiN_pLaNeT
SENIOR MEMBER
- Joined
- May 10, 2010
- Messages
- 7,685
- Reaction score
- 0
Quader seeks 'massive' Indian investments on Victory Day
Quader seeks 'massive' Indian investments on Victory Day | Bangladesh | bdnews24.com
Sun, Dec 16th, 2012 3:07 pm BdST
*
Kolkata, Dec 16 (bdnews24.com)- Bangladesh commerce minister Ghulam Muhammed Quader has rolled out a red-carpet for Indian investors , quipping this is a "Victory Day gift" his country was looking forward from India.
"India helped us achieve our independence, now we hope India will help our economy grow with massive investments in our industries," Quader told journalists after inaugurating a Mega Trade Fair here.
Quader said Bangladesh's new laws on repatriation of profits should encourage such investments as it was "the most liberal" in South Asia.
"You can bring back your profits almost wholly, we only want your investment to create jobs in Bangladesh and help our economy grow, our exports grow," Quader said.
The commerce minister said that goods produced in Bangladesh would enjoy duty-free export to Japan, Canada, Australia, New Zealand and the European Union. In US and China, the duty for such goods was low to negligible, he said.
"Chinese and Korean investors, even investors from Czech Republic, are coming to invest in Bangladesh to take advantage of this situation. So why should our biggest neighbour India miss out on such an opportunity," Quader said.
He also stressed the locational advantage that industry in Bangladesh would have accessing the markets in India's remote northeast that is so difficult to reach from its own mainland.
"Our products are found to be more competitive in India's northeast. That's an opportunity for many investors," he said.
The commerce minister welcomed Indian moves to offer duty free access to Bangladesh goods into the huge domestic market.
"But we now want investments, not just trade," he stressed.
When asked about why India's largest conglomerate, the Tatas, backed from its massive investment plans in Bangladesh, Quader said that is a chapter better forgotten.
"They (Tatas) asked for a moratorium on gas prices that was not acceptable to the government of the day. I wish the matter should have been resolved by sustained negotiations," Quader said.
But he sought to give the Indian industry of a "will-do-whatever-it-takes" kind of an assurance on its investments.
He said he was getting good response from the various chambers of commerce in India, but did not elaborate on specifics.
bdnews24.com/sbh/1455h
*
WARNING: Any unauthorised use or reproduction of bdnews24.com content for commercial purposes is strictly prohibited and constitutes copyright infringement liable to legal action.
Quader seeks 'massive' Indian investments on Victory Day | Bangladesh | bdnews24.com
Sun, Dec 16th, 2012 3:07 pm BdST
*
Kolkata, Dec 16 (bdnews24.com)- Bangladesh commerce minister Ghulam Muhammed Quader has rolled out a red-carpet for Indian investors , quipping this is a "Victory Day gift" his country was looking forward from India.
"India helped us achieve our independence, now we hope India will help our economy grow with massive investments in our industries," Quader told journalists after inaugurating a Mega Trade Fair here.
Quader said Bangladesh's new laws on repatriation of profits should encourage such investments as it was "the most liberal" in South Asia.
"You can bring back your profits almost wholly, we only want your investment to create jobs in Bangladesh and help our economy grow, our exports grow," Quader said.
The commerce minister said that goods produced in Bangladesh would enjoy duty-free export to Japan, Canada, Australia, New Zealand and the European Union. In US and China, the duty for such goods was low to negligible, he said.
"Chinese and Korean investors, even investors from Czech Republic, are coming to invest in Bangladesh to take advantage of this situation. So why should our biggest neighbour India miss out on such an opportunity," Quader said.
He also stressed the locational advantage that industry in Bangladesh would have accessing the markets in India's remote northeast that is so difficult to reach from its own mainland.
"Our products are found to be more competitive in India's northeast. That's an opportunity for many investors," he said.
The commerce minister welcomed Indian moves to offer duty free access to Bangladesh goods into the huge domestic market.
"But we now want investments, not just trade," he stressed.
When asked about why India's largest conglomerate, the Tatas, backed from its massive investment plans in Bangladesh, Quader said that is a chapter better forgotten.
"They (Tatas) asked for a moratorium on gas prices that was not acceptable to the government of the day. I wish the matter should have been resolved by sustained negotiations," Quader said.
But he sought to give the Indian industry of a "will-do-whatever-it-takes" kind of an assurance on its investments.
He said he was getting good response from the various chambers of commerce in India, but did not elaborate on specifics.
bdnews24.com/sbh/1455h
*
WARNING: Any unauthorised use or reproduction of bdnews24.com content for commercial purposes is strictly prohibited and constitutes copyright infringement liable to legal action.
