He made the call while launching Bangladesh Chamber of Commerce and Industry Hong Kong (BCCI HK) in Hong Kong late on Wednesday in an impressive ceremony.
The expatriate members of the Bangladesh community, most of whom are well-established businessmen, have set up their maiden chamber there.
The event was attended by high level representatives of different government departments in Hong Kong, the Consuls General and representatives from the Consulates, representatives of different chambers, business leaders, bankers, financial institutions, and a good number of members of the community.
Commerce Minister Tofail Ahmed attended the event as the chief guest, who gave an illuminating speech.
Apart from the Commerce Minister, the event was also addressed by the Consul General of Bangladesh in Hong Kong Mohammad Sarwar Mahmood, BCCI-HK President Ikram Ahmed Khan, BCCI-HK General Secretary Mohammed Yousuf Ali,
Hong Kong SAR Belt and Road Office Commissioner Ms. Yvonne Y.P. Choi, GBS, JP and Hong Kong SAR Commerce and Economic Development Under Secretary for Commerce and Economic Development of Hong Kong Godfrey Leung King Kwok, JP.
Commerce Minister, Tofail Ahmed, informed the ceremony about the current strength of the Bangladesh economy, its GDP growth rate of 7.11per cent, size of exports of $34 billion, Foreign Exchange reserves of $ 32 billion, etc.
He mentioned that Bangladesh made remarkable progress in short period by raising incomes, improving social indicators for which it has been upgraded as a “Lower Middle-Income Country” by World Bank.
The Minister said that the country is on right track to fetch exports to the value of $50 billion by 2021, when Bangladesh would be transformed into a “Middle-Income Country”.
The country has been classified as a “Next Eleven” emerging market and one of the “Frontier Five” emerging economies in the world by Goldman Sachs and JP Morgan respectively,
The Commerce Minister also said Bangladesh is a market of 163 million consumers, abundant cheap skilled labor, inexpensive cost of transportation, with a home grown entrepreneur class, a politically stable environment with a government committed to welcoming investment.
“While touching upon the foreign investment climate prevailing in Bangladesh, the Commerce minister insisted that the current government under the visionary and dynamic leadership of Sheikh Hasina, has been able to put up in place the right environment and attractive incentive packages and continuously striving to further improve upon the existing infrastructure and logistics.,” he added.