FBCCI suggests creating direct shipping route with Sydney

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has suggested creating a direct shipping route between Chattogram and Sydney to reduce logistical costs and enhance competitiveness as part of efforts to boost bilateral trade.

The FBCCI also sought investment from Australian entrepreneurs and proposed signing a comprehensive economic partnership agreement or a regional trade agreement between the two nations for greater market access and stimulate investment.

FBCCI Vice President Joshoda Jibon Debnath made the calls during a seminar on "Strengthening bilateral trade and investment between Bangladesh and Australia", held at the Four Seasons Hotel in Australia's Sydney on May 29.

The seminar was hosted by the FBCCI in association with the High Commission of Bangladesh in Canberra, Australia and was supported by the Consulate General of Bangladesh in Sydney.

At the event, the apex trade body of Bangladesh also reaffirmed its commitment to provide all kinds of support to Australian investors to set up their businesses in Bangladesh.

The FBCCI vice president highlighted the potential of enhanced Bangladesh-Australia cooperation across key sectors, including pharmaceuticals, IT services, agricultural technology, renewable energy, and education.

He proposed a joint research and development fund for biotechnology, ICT, and renewable energy, as well as vocational training programmes and education to drive innovation and economic growth.

In his speech, Stephen Kamper, minister for small business, land and property of New South Wales (Australia), described the advantages of doing business in Australia.

He highlighted the opportunities and potential for setting up businesses in New South Wales and encouraged Bangladeshi investors to invest in Australia.