"We've advantages... We have a wonderful foundation on which we can build," he told a meeting with leading businessmen in the country at the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

"Together, a golden partnership is waiting to serve the world market," the British envoy said, calling upon the businessmen to think big and see the next segment of business after selling products only to the markets of the UK or Bangladesh.

He stressed the need for building the partnership considering the consequences after 2008 when the "embargo" on China will be completely lifted. "Next three years are crucial."

On the advantages, he mentioned the changes in the UK's international trade profile with the British companies increasingly becoming successful overseas in the fields of services sectors and on the knowledge-based economy.

At the same time, Anwar Choudhury put emphasis on an enabling commercial environment in Bangladesh.

"No single country has a monopoly on the best technologies and process, but between Bangladesh and the UK we do seem to have a knack of creating commercial success," said the British envoy.

FBCCI directors, former FBCCI and DCCI presidents, other trade body leaders and British High Commission officials were present at the meeting, chaired by FBCCI President Mir Nasir Hossain.

Anwar Choudhury said the UK investors were increasingly showing investment interest in Bangladesh more than the power and coal projects to double (US$ 8 billion) the UK investment in Bangladesh.

"There's of course no better trade enabling capacity than infrastructure," he said. "I'll continue to lobby for new British investments in key infrastructure in Bangladesh, particularly in energy and power," he assured.

The British high commissioner said the major thrust of UK business plan in Bangladesh for 2006-07 would be the country's key exporting sectors - not just in garments, but in software development, pharmaceuticals, seafood, leather and ceramics.

"In software development and ceramics, we have already made a lot of progress."

Speaking on the commercial environment, he said Bangladesh must attract FDI to accelerate its economic growth, and it's the responsibility of the government to create a truly enabling environment for greater business and investment.

"Will the day actually come when British and other foreign investors are attracted to Bangladesh in the same way as they are now by China and India?"

Anwar Choudhury added as the costs in those rapidly developing countries continue to rise, countries like Bangladesh have a golden opportunity to grab an increased share of the FDI cake.

He also stressed the need for eliminating corruption to create the enabling environment and reiterated that Bangladesh needs to do something about corruption. "You need to move out of corruption as you did on terrorism," he said.

The local business community also sought cooperation from the UK in relaxing UK's sanitary and phyto-sanitary measures, relaxing visa procedure, removing supply-side constraints, relocation of call centres from UK to Bangladesh and arranging match-making events between the business communities of the two countries. Anwar Choudhury assured the local businesses of cooperation.

Next polls crucial for business environment

The next general election will also be crucial for business environment, investment and development of the country, the British envoy said.

Replying to a question, he said their vision in Bangladesh is a stable democracy, stability and prosperity. "You cannot achieve these without free and fair election. That's why election is crucial to us."

The envoy emphasised stopping exchange of letters on the electoral reforms and suggested the major political parties to sit together and discuss the issue honestly.

He expected that there would be some decisions in this regard as there is still many months to go before the next election.

Replying to another question on port, he said Bangladesh needs to introduce another port no matter who is going to operate it.