French entrepreneurs plan investment, not trading
Visiting trade team meets FBCCI leaders
Star Business Report
French entrepreneurs want to develop ties with their Bangladeshi counterparts with the focus on investment in Bangladesh, not trading, a high profile delegation said yesterday.Ceramics, textiles, leather and light engineering are some of the key areas the visiting French trade team has identified as investment-worthy. The head of the delegation also termed Bangladesh a 'good place' for investment. "So far what we have seen makes us feel that Bangladesh is a good place for investment. Lafarge has made big investment here. And many other French companies also have factories in Bangladesh. We see possibility of making investment in other areas also," said Philipe Vindry, president delegate of Chamber of Commerce and Industry of Paris (CCIP). Bangladesh is well positioned to receive foreign direct investment. France and Bangladesh have good and friendly relationship. France is a leading importer of Bangladeshi products, Vindry, former president of Christian Dior and Samaritan, said at a meeting with leaders of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in Dhaka. Roger Bacri, head of Asia Desk at CCIP, said the delegation is having one-on-one meeting with Bangladeshi businessmen for match-making and hope to find partners for investment in joint venture. FBCCI President Abdul Awal Mintoo said Bangladesh has duty free access to EU and some other developed countries. It has other trade privilege as a least developed country. Bangladesh is also on way to develop free trade agreement with some regional nations. "French investors will find a big preferential markets for their products. Light engineering can be good sector for French investment. Lucrative incentives should also woo investment in home textile, ceramics, pharmaceutical and handicraft sectors," he said. Vice-chairman of Export Promotion Bureau (EPB) Mir Shahabuddin Mohammad said Bangladeshi products created huge interest among French consumers during a single country fair in Paris last year. Bangladesh has potential to expand export market in France, he said. Trade balance with France favours Bangladesh. According to FBCCI, Bangladesh exported products worth $552.96 million to France and imports valued at $58.24 million in 2003-2004.
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