Dhaka, Aug 27 (V7N): The United Kingdom has shown interest in supporting Bangladesh in implementing essential reforms in the banking, revenue, and capital market sectors. During a meeting with Finance Adviser Dr. Salehuddin Ahmed on Tuesday at the Economic Relations Division (ERD) office in Sher-e-Bangla Nagar, UK High Commissioner Sarah Cooke conveyed this intention.

Following the meeting, Dr. Salehuddin underscored the critical nature of these reforms for Bangladesh’s economic advancement. "These issues are of immediate concern for us because, without these reforms, it will be challenging for us to move forward," he informed reporters.

The conversation also explored ways to enhance trade and commerce between the two nations. Dr. Salehuddin expressed confidence in the ongoing support from the UK, stating, "We want trade and commerce to thrive. The UK government has been very supportive in the past, and we anticipate their continued cooperation."

He acknowledged the UK’s significant role in Bangladesh's economic development and women's empowerment, assuring that these initiatives would continue. Dr. Salehuddin also emphasized the necessity of private sector investment, noting substantial investments by British companies in Bangladesh. He encouraged the UK to diversify its import portfolio from Bangladesh, as the nation’s exports to the UK and Europe are largely concentrated in ready-made garments.

Dr. Salehuddin highlighted the need to enhance the business environment to attract greater private investment. "Improving the business climate is essential; otherwise, the private sector will not be attracted."

British High Commissioner Sarah Cooke described the discussions as "very productive," emphasizing the strong economic, trade, and investment ties between the UK and Bangladesh. "We are eager to broaden our trade and investment relationships and to support the economic reforms that the Adviser is championing. We discussed how our experts could collaborate to advance these reforms and strengthen our trade and investment connections."

When asked about the potential for increasing foreign direct investment (FDI) from the UK, Cooke reiterated the robust partnership between the two countries. "We have a conducive investment environment, and naturally, we would like to see more FDI in Bangladesh. British investors are responsible, and we discussed strategies to build investor confidence and deepen our trade relations."

Previously, the United States proposed deploying skilled revenue advisers to assist Bangladesh in expanding its domestic revenue base, with the US Department of Treasury expressing its readiness to provide technical assistance for this purpose.

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