UK parliament member Rupa Huq on Tuesday said that Bangladesh needed a cleansing of its institutions to eliminate corruption and irregularities in the financial sector.
Speaking at a press conference organised by the UK-Bangladesh Catalysts of Commerce and Industry at the Hotel Sarina in the capital Dhaka, she remarked that Bangladesh has been governed for many years by members of two prominent families, either a daughter or a wife.
鈥業t鈥檚 about the families, where one son is being promoted as the next prime minister, and before that, another son was expected to take the role from the Awami League. I don鈥檛 believe that鈥檚 a healthy direction,鈥� Rupa said.
鈥榃e observed that the previous government left several issues unresolved. However, I understand that the current government is actively working to address these challenges,鈥� Rupa, a Bangladeshi-origin UK parliament member, said.
She also said that as part of its trade diplomacy, Bangladesh must pursue free trade agreements with its trading partners to enhance its presence on the global market.
Praising the development in Bangladesh鈥檚 readymade garment sector, Rupa said, 鈥業t is essential that we look beyond the garment industry.鈥�
Bangladesh Nationalist Party standing committee member Amir Khasru Mahmud Chowdhury said that Bangladesh experienced a challenging period, especially over the past 15-16 years as the economy faced significant distortions, and the free-market foundation that had been established was compromised by oligarchic and patronised practices.
These practices disrupted the level playing field, which had a negative impact on both domestic and foreign investors, stalling the progress of the business community, he said.
Amir Khasru said that liberalising both economy and politics would automatically improve the business climate in Bangladesh.
The UKBCCI, a leading umbrella organisation for British-Bangladeshi entrepreneurs in the UK and Bangladesh, is conducting its trade mission to Bangladesh in January 4-9.
UKBCCI regional president Showkat Aziz Russell said that the mission sought to capitalise on the country鈥檚 edge in global export competitiveness while fostering innovation in design and manufacturing.
UKBCCI chairman Iqbal Ahmed also spoke on the occasion.