European nations interested investing in shipping, pharma, jute in Bangladesh: demands changes of investment rules.

The European Union countries want to invest in Bangladesh’s shipping, pharmaceuticals and jute sectors, but demand changes to some rules and regulations to ensure a good return of their investment.
“We have put forward a set of suggestions about changing some laws and regulations so the EU investors get interested in Bangladesh,” EU Ambassador William Hanna told reporters after a meeting with Finance Minister AMA Muhith yesterday.

Five ambassadors of EU countries accompanied Hanna at the meeting.
Finance Minister told the reporters that the EU investors cannot come to Bangladesh due to the prevailing political turmoil.

The finance minister said he has assured the ambassadors that the unrest will end soon.
Hanna said the EU is a very important trading partner for Bangladesh as the country exports more to the European bloc than any other part of the world.
Muhith said a committee has been formed to remove the obstacles to attracting foreign direct investment.

He said the proposals made by the EU ambassadors will be sent to the committee.
“I have told them [the EU envoys] that we are providing some protection measures for our domestic industries for their expansion. But such measures will not continue for long and will be withdrawn after a certain period.”

Currently many EU products do not have access to Bangladesh as the same pharmaceutical products coming from a country beyond agreement do not get entry into Bangladesh. The EU envoys proposed easing such barriers.
The EU investors also want to invest in jute, education, health care and shipping sectors, they said.