The Canadian High Commissioner to Bangladesh, HE Mr. Robert McDougall, inaugurated the extended facilities of the International Business Forum of Bangladesh (IBFB) on 6 April, 2010.
The expansion has resulted in IBFB obtaining a larger Conference Room along with more office space for its ever expanding staff and officials.In his speech, the High Commissioner said that Canada can play an important role in helping Bangladesh secure energy and food security.
Mr. McDougall informed that trade and commerce between Bangladesh and Canada had exceeded $1.4 billion last year despite the Global Financial Crisis. Although there is widespread poverty and the prospects of calamities, Bangladesh has shown significant economic growth over the years. Canadian companies are very keen to invest in oil and gas exploration, power sector, IT and infrastructure development in Bangladesh. However, complex business regulations often hinder investment and this can only be rectified if the business communities of both countries work together. In this regard, the High Commissioner felt that IBFB, which aims to promote business advocacy, can play a vital role.
In his opening speech, Mr. Mahmudul Islam Chowdhury, President-IBFB, former Mayor and former MP, Chittagong, said that IBFB was dedicated to promoting the cause of business advocacy and lobbying for changes in policymaking which would lead to economic development of the country. He informed that IBFB has recently signed an agreement with the Bangladesh Investment Climate Fund (BICF) of the International
Finance Corporation (IFC) under which BICF would provide technical assistance to IBFB to strengthen its ability to research and advocate for the implementation of business reforms which would open up new opportunities for Bangladesh. He informed the house that IBFB will open their new offices in Rajshahi, Khulna and Chittagong in near future.
Mr. Mortaza Rahman Tarafder, Trade Commissioner, Canadian High Commission, Mr. ATM Saidul Alam, Vice President, IBFB, Mr. Sajedur Seraj, Director, IBFB, members of donor agencies and media personnel were also present during the occasion.
