HSBC Hosts Event on Growing Bangladesh China Business Ties

DHAKA, March 14 (NsNewsWire) — HSBC organised a Bangladesh-China Business Connections event this week, bringing successful Bangladeshi and Chinese businesses and institutions, together with economic, government, industry and financial services experts to share insights to help businesses advance their China-Bangladesh commercial strategy. Keynote speeches explored the opportunity to invest in Bangladesh, as well as market reforms in China and the Belt and Road Initiative, which are accelerating business, trade and investment activity between the two countries. Chief Guest, Minister of Commerce, Government of the Peoples’ Republic of Bangladesh, Tipu Munshi MP applauded HSBC for further stengthening the economic and business linkages between Bangladesh and China. Munshi said: “China has been a trusted partner of Bangladesh for a long time now Under the leadership of the Honorable Prime Minister, Bangladesh has on boarded into the highway of development and China has been a key partner in this journey. China is expected to invest more than USD50Bn in the next 10 to 15 years in Bangladesh’s thrust sectors like energy and power, transport and communications etc.I thank HSBC for facilitating Chinese entrepreneurs and enhancing trade relations between China and Bangladesh.” Chinese Economic and Commercial Counsellor in Bangladesh, Li Guangjun also lauded HSBC for curating a platform and content that supports closer connectivity between companies in China and Bangadesh. He said: ” am confident that the bilateral economic cooperation between Bangladesh and China will be explored in a more extensive way in the future.” During his speech, Sr. Secretary, Power Division, Ministry of Power, Energy & Mineral Resources Dr. Ahmad Kaikaus, said: “Bangladesh is going to be a ‘Bright Delta’ for the global economy. Indeed, HSBC economists predict that by 2030, Bangladesh will be the 26th largest economy globally. To achieve the targeted 82GW of power generation by 2041, Bangladesh needs more than USD180Bn of investment which is around USD9Bn per year. Kaikusspeech also acknowledged HSBC’s leadership role in Bangladesh as a long- term financial partner to finance key investment projects. Kaikus continued by thanking Chinese delegates and clients for their continuined investment in Bangladesh. Speaking at the event, Tim Evans, HSBC Regional Head of Commercial Banking for International Countries in Asia-Pacific, said: “HSBC’s extensive global network offers unparalleled access to high-growth markets like Bangladesh. By leveraging our international footprint, we connect businesses to a network covering more than 90 % of global GDP , trade and capital flows . ” Francois de Maricourt, Chief Executive Officer for HSBC Bangladesh, said “Bangladesh and China are rapidly growing economies with growing two- way trade ties. We expect their commercial links to increase even further as China’s connectivity with the rest of the world grows. As the leading international bank, HSBC is well positioned to help our clients increase their trade and investment activity from closer economic ties between the two countries. HSBC Bangladesh Deputy CEO and Country Head of Wholesale Banking, Md Mahbub ur Rahman, reinforced the strength and depth of HSBC’s capabilities in Bangladesh and highlighted how HSBC supports businesses on both ends of the China-Bangladesh corridor. ends/more Media enquiries to: Farah Rahman +880 1709 650934 farah.rahman@hsbc.com.bd Note to editors: The Hongkong and Shanghai Banking Corporation Limited The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group, which serves our customers through four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. The Group serves customers worldwide in 66 countries and territories in our geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2,558bn at 31 December 2018, HSBC is one of the world’s largest banking and financial services organisations. Enditem

 

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