UK wants Bangladesh by her side during Brexit transition

The United Kingdom wants Bangladesh as a ‘strong partner’ as it undergoes a period of transition through Brexit negotiation.

British Prime Minister’s Trade Envoy for Bangladesh Rushanara Ali, a Labour Party MP, said both Bangladesh and Britain had seen changes in the last few years.

“We have taken a turn for the worse regarding changes and to some extend uncertainty. You are on the rise and have been for a long time,” she said.

“So just as Britain has been a strong partner to Bangladesh. I hope Bangladesh will be a strong partner as we go through this period of rapid transition as we go through this Brexit negotiation,” she said.

Rushanara was speaking at a reception at British High Commissioner Alison Blake’s residence on Monday as she is leading a nine-member trade delegation of the UK rail companies.

She expressed keen interest in investing in the development of railway sector including strong railway infrastructure.

She also offered “lucrative” export credits from the British companies to implement the upcoming mega projects.

The UK export finance support available for UK trade with Bangladesh has increased to £625 million from £150 million, marking a jump of more than 400 percent.

It means an additional nearly £500 million capacity to help UK exporters, and their buyers in Bangladesh get access to the British goods and services.

High Commissioner Blake said given the strong friendship and close ties between the UK and Bangladesh, her visit will "open up new avenues for trade."

The companies accompanying the envoy on her second visit to Bangladesh in less than a year are specialists in the full spectrum of the rail supply chain from consultancy, systems design, rolling stock, and operations.

They are showcasing UK expertise in the rail sector, underscoring the importance the UK attaches to its trade and investment partnership with Bangladesh.

The UK has strong business interests in Bangladesh and remains the largest foreign investor.

Over 240 British companies are operating in sectors including retail, banking, energy, infrastructure, consultancy and education with main centres of operation in Dhaka, Chittagong and Sylhet.

The UK is also the third single largest destination for exports from Bangladesh.

Rushanara who called herself a pro-European said they would ensure that the British economy is protected when they will leave European bloc.

She said Britain would continue to have “influence” as a partner in Asia and Africa as this century is called for the Asians and Africans.

In Bangladesh, she said their focus is on infrastructure development, technology transfer, sharing skills and building on the long-held historic connection.

She said businesses go into where the country climate in their view much more favourable.

“You (Bangladesh) are very well-kept secret in Europe. I want to make sure British businesses find out with this partnership,” she said.

“The British businesses recognise the opportunities, and they seize those opportunities and build those relationships and make sure that they can be realised in proper opportunities and exports.”

“We want results,” she said.