Tuesday, July 22, 2014 05:25
Bangladesh To Invest US$3m In Liberia
Story by Alva M. Wolokolie
If all goes well, the Export Promotion Bureau of Bangladesh would invest about US$3M in both private and public sectors in Liberia. Currently, the Bangladesh Trade Delegation to Senegal, Ghana, Liberia and Ivory Coast is in the country meeting with relevant stakeholders including agencies of Government to establish a cordial working relationship between Liberia and Bangladesh.
Speaking to reporters during the weekend in Monrovia at the presentation on export strength of Bangladesh, the Vice Chairman of Export Promotion Bureau (EPB), Mr. Shubhashish Bose disclosed that this is the first time for Bangladesh to lead a trade delegation to Liberia in order to establish trade between the two countries.
Mr. Bose revealed that investors in his country have great interest coming to Liberia to invest. He named the pharmaceutical sector as one of the fastest growing investing area which is on the verge of entering highly regulated overseas markets in the United States and Europe.
He expressed interest of building a pharmaceutical industry in the country. Mr. Bose said the packaging and presentation of the products of Bangladesh are comparable to any international standard and have been appreciated by them.
According to him, in 2010, the total size of the Pharma market of Bangladesh was estimated to be US$1.2 billion and is growing at a steady rate. He added that the pharmaceutical sector is the second highest contribution to the National exchequer and the largest white collar labor intensive employment sector of the country.
In response, the Assistant Minister for Industry, Mr. Sei W. Gahn welcomed the delegation on behalf of the Ministry of Commerce and promised the delegation that Liberia is open and ready to do business. Mr. Gahn expressed hope that the pharmaceutical would be of high quality for the Liberian people so that they too would feel some sense of transformation.
He believed that if all is arranged, the coming of the Bangladesh Trade Delegation would assist Government to create employment for the entire citizenry.