Inaugural
address by Hon'ble Foreign Minister at the 15th US
Trade Show 2006 at Dhaka Sheraton Hotel on 08 February
2006
Distinguished
Guests,
A very good morning to you all. I am indeed very happy
to inaugurate the 15th US Trade Show 2006, which is
co-sponsored by the American Chamber of Commerce in
Bangladesh and the US Embassy in Dhaka. This familiar
and regular event not only symbolizes, but also reinforces
the excellent relations that exist between our two
countries. I believe, this would give an added impetus
to our efforts aimed at enhancing commercial exchanges
and economic relations between Bangladesh and the
United States.
I
would like to take this opportunity to put on record
that we in Bangladesh deeply value the relationship
with the United States. Our two nations are committed
to many common values including democracy and rule
of law. We also combine our efforts for the maintenance
of international peace and security. The friendship
between our two countries has matured in content,
depth, dimension and strength over the years. We are
thankful to our American friends for their constant
support and assistance in our relentless efforts for
progressive socio-economic development in Bangladesh.
Ladies and Gentlemen,
Despite the mammoth disproportion of population and
available resources, Bangladesh has been able to alleviate
poverty to a large extent. Our home grown way of addressing
poverty through micro credit has proved very effective,
and is now a model for many developing and developed
economies in the world. We have maintained a growth
rate of over five percent for more than a decade,
and we hope the figure would reach well beyond six
percent in the current financial year.
Distinguished Guests,
Our
exports to the US market are vital to our economy.
The US remains the single largest export destination
for our apparel products. In this context, and particularly,
in view of the WTO Ministerial Meeting held in Hong
Kong in December 2005, it is of paramount importance
for Bangladesh to get at least some of her ready-made
garment products included in the list of 97% items
that will be allowed duty-free access to the U.S.
market. This, apart from accelerating the pace of
empowerment of women and creating more employment
opportunities, would allow Bangladesh the required
time to consolidate her competitive position with
the establishment of increasing number of backward-linkage
industries. We all hope that considering the huge
and positive social impacts, the U.S. administration
would extend greater cooperation in this regard. We
also believe that our friends in the US Congress will
respond favourably with regard to the passage of the
Tariff Relief Assistance for Developing Economies
(TRADE) Act of 2005.
Dear
Friends,
Bangladesh offers the most attractive investment incentives
in South Asia. Foreign investors are increasingly
recognizing this. During the last 12-month period,
four flagship companies, namely Microsoft, Singapore
Telecom, Tata and Orascom have started their investment
activities in Bangladesh. During the last 3 years,
net annual FDI inflow into Bangladesh has increased
by 34 percent. Sectors of investment have also been
diversified. The government is now considering various
investment proposals in manufacturing, energy, power,
telecom and textile sectors amounting to approximately
US dollars 10 billion, which prove that Bangladesh
has now successfully entered the global investment
map. With the realization of SAFTA and BIMSTEC FTA,
foreign investors can now look towards Bangladesh
with an eye on the 1.4 billion strong South Asian
market.
I
sincerely hope and believe that given the most attractive
and competitive investment environment in our country,
and the dynamic and pro-active role played by AMCHAM,
we would continue to see an increasing number of US
investors in Bangladesh. This would certainly contribute
to bringing the private sectors of the two countries
closer, and further strengthening our existing friendly
relations.
With
these few words, I have great pleasure to inaugurate
the 15th US Trade Show 2006 and wishing it a great
success.
I
thank you all.
