Opportunity <strong>Bangladesh</strong>10 Opportunity <strong>Bangladesh</strong>
Message fromthe High CommissionerOpportunity <strong>Bangladesh</strong>Today we are celebrating41st anniversary of ourIndependence and National Day.On this memorable day, I rememberwith deep gratitude the Father of theNation Bangabandhu Sheikh MujiburRahman, who proclaimed the country’sindependence on March 26, 1971. I alsopay my profound tributes to the valiantfreedom fighters and to those countlessmartyrs who responded to the call ofBangabandhu and laid down their livesfor a free and independent <strong>Bangladesh</strong>.Going on 41 years, as a nation,we have achieved many significantmilestones since independence,making great progress in literacy,empowerment of women, alleviationof poverty, primary health care andsocial entrepreneurship. <strong>Bangladesh</strong>can also boast for its fairly healthymacro-economic fundamentals andsocio-economic stability. It has beenmaintaining a GDP growth of morethan 5.5% for over last two decades.This year it is expected to reach 7%for the first time. We further expectour GDP to grow around 8% by 2012and around 10% by 2015. Accordingto the International Monetary Fund,<strong>Bangladesh</strong> ranked as the 43rd largesteconomy in the world in 2010 in PPPterms and 57th largest in nominalterms with a gross domestic productof US$269.3 billion in PPP terms andUS$104.9 billion in nominal term.In export arena, <strong>Bangladesh</strong> is alsodoing exceedingly well in textile,jute and jute products, finishedleathers, ship building, electrical andelectronics, household appliances,leather goods, agro-foods, IT, ICT andpharmaceuticals. <strong>Bangladesh</strong> is nowglobally the third largest exporter ofapparels with close to US$18 billiondollar exports in 2010. Our total exportearnings for the current fiscal yearended at June 2011 was US$23 billionwhich is 41% higher than the previousfiscal year. During the last nine monthsthe exports are growing further.Bilateral relations between<strong>Bangladesh</strong> and Singapore havemade great progress in recent years.The two countries have long enjoyedpositive and constructive relations.Singapore was the first South EastAsian country to recognise <strong>Bangladesh</strong>on 12 February 1972. We started witha Trade Commission in Singapore in1973 that was eventually upgradedto a High Commission in 1983. Wehave come a long way since then.Relationships between <strong>Bangladesh</strong> andSingapore have been strengthened bylong standing trade and commercialinterests. Over the last few years,several high level visits also took placebetween the two countries. This hashelped evolve the relationship into asignificant partnership in recent years.Increasing trade and investmentwith Singapore is a core objectivein our relationship. Bilateral tradebetween the two countries alreadyexceeded S$3 billion. Thoughinvestment from Singapore is mostlyconcentrated in the areas of textilesand telecommunications, however,availability of cheap and skilled workforce, legal protection for investors,liberal economic policies regardingrepatriation of capital and profit, easeof setting up business, one stop serviceat the Board of Investment, tax holidaysand other incentives are now attractingmore investors from Singapore whohave shown interests in the areas ofinfrastructure building, hospitality andservice sectors, tourism, banking andfinance. We are happy that InternationalEnterprises (IE), Singapore andSingapore Business Federation in closeco-ordination with <strong>Bangladesh</strong> HighCommission are constantly updatingthe business houses in Singapore ontrade and investment opportunities in<strong>Bangladesh</strong>.Singapore is now home to morethan 125,000 vibrant <strong>Bangladesh</strong>is.First <strong>Bangladesh</strong>i professionals startedto come to Singapore in the earlyseventies mainly to work as Universityand Polytechnic faculty members,Engineers, Mariners and Bankers. Thenin the mid-eighties skilled and semiskilledwork forces started to arrivein Singapore in the construction andshipbuilding sectors in large numbers.With high quality workmanship anddiscipline, the demand of <strong>Bangladesh</strong>iworkers is growing fast.The High Commission of<strong>Bangladesh</strong> in Singapore is committedto further strengthening of the bilateralpolitical and economic relations bynurturing existing linkages and strivingto build stronger bonds of cooperation,interaction and understanding betweenour two countries.The publication of Opportunity<strong>Bangladesh</strong> over the years has greatlyassisted the High Commission indepicting <strong>Bangladesh</strong>, particularlythe potential in trade, investment,tourism, long history and culturaltraditions that <strong>Bangladesh</strong> boasts of,in Singapore. Opportunity <strong>Bangladesh</strong>raises the awareness among ourSingaporean friends and other friendsin Singapore on the continuous effortsof the Government of <strong>Bangladesh</strong> forattracting more and more foreign directinvestment, especially from Singapore.I would also like to express mysincere appreciation to the Governmentand friendly people of Singapore forenabling this High Commission to carryout its activities smoothly by extendingtheir full support and cooperation.Long live <strong>Bangladesh</strong>-Singaporefriendship.His Excellency Kamrul AhsanHigh Commissioner forThe People’s Republic of <strong>Bangladesh</strong>in SingaporeOpportunity <strong>Bangladesh</strong> 11