The Prime Minister of Bangladesh will travel to Spain on July 21 and 22

Luis Ayllón The Prime Minister of Bangladesh, Sheikh Hasina, will make a bilateral visit to Spain on the 21st and 22nd, invited by the President of the Government, Pedro Sánchez, and with a strong business content. As the Embassy of Bangladesh informed The Diplomat, on the 22nd, Sheikh Hasina will hold a bilateral meeting with Sánchez, and will participate in the Spain-Bangladesh Business Meeting, which is expected to be attended by a significant number of representatives of Spanish companies and together with a delegation of high-level businessmen who will accompany the prime minister on her visit to our country. Leaders of various Chambers of Commerce, Industry and Services, potential investors and businessmen, exporters and importers, senior officials of the competent Ministries of the Government of Spain, and prominent innovators, experts and interested parties, among others, will also take part in the business meeting. others. Bangladesh, the second largest economy in South Asia, is currently the 35th largest economy in the world, and is projected to reach the 24th by 2030. It is also on track to become the ninth largest consumer market by 2030. Spain is the second largest destination of Bangladesh's exports in the EU, while Bangladesh is Spain's fourth trading partner in Asia. This year the volume of bilateral trade between Spain and Bangladesh is expected to exceed $4 billion. Bangladesh - known as the "textile superpower" and the "world's dressmaker" - is the world's second largest exporter of clothing (textiles and ready-made), surpassed only by China. More than half of the world's main ecological factories are located in that Asian country. The Embassy of Bangladesh emphasizes that it is a country with infinite opportunities and prospects. Thus, remember that beyond clothing, it has wonderful competitive advantages, untapped treasures and immense potentials in sectors such as jute, leather, tea, the processing of agricultural products, frozen seafood, pharmaceutical products, ceramics, crafts, shipbuilding, ICT/software and light engineering. In addition, he adds, it is among the three largest global producers of rice and ranks second in global supply of IT freelancers and vegetable production, and third in global fish production. Bangladesh produces jute, tea and leather of the best quality in the world, says the diplomatic representation. Bangladesh has put in place an enabling framework for foreign investment, strengthened the ease of doing business and enacted one of the friendliest and most liberal investment regimes in the world. Some of the lucrative incentives offered by the Government are duty drawback on import of capital goods, exemption from taxes on export and wages, export subsidies, exemption from VAT on public services, possibility to repatriate 100% of profits and facilities for foreign currency account, foreign loans and bonded warehouses. The Business Meet will showcase these business opportunities in Bangladesh and disseminate specific information to traders and investors in greater detail. The meeting will also facilitate rapprochement, interaction, networking and synergy between private sectors and business leaders, and enable both sides to move forward for mutual benefit and prosperity.

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