In February, I embraced the opportunity to serve as the new Trade Envoy to Bangladesh, a role that presented a unique challenge within my responsibilities as a Member of Parliament. One compelling reason for my interest in this position is the vibrant British Bangladeshi community in Ipswich, whom I also have the privilege of representing.
The position of a Trade Envoy is quite fascinating. Appointed by the Prime Minister, Trade Envoys are a group of parliamentarians from both the House of Commons and the House of Lords tasked with fostering trade and investment opportunities between the UK and selected countries. This involves strengthening relationships and creating new pathways for mutual economic growth.
I’m proud to join the ranks of 37 active Trade Envoys, and it’s an honor to be part of this distinguished group. A known example is Lord Botham, the legendary cricketer who served as the Trade Envoy to Australia.
Foreign Secretary of Bangladesh (Credits: tom4ipswich.com)
My goal is to bolster trade between the UK and Bangladesh. Bangladesh’s economy has seen remarkable growth, averaging a 6% increase in GDP annually. With a young and dynamic workforce, the country is on the brink of advancing to a higher economic development tier.
A reasonable portion of our textiles and garments are sourced from Bangladesh, and my visit to Dhaka offered insights into the production processes that fuel our imports.
Currently, the UK imports goods valued at £3.9 billion from Bangladesh, while our exports to them total between £800 and £900 million. Although this trade relationship is already beneficial, there’s a noticeable trade deficit that I aim to address.
Supporting British manufacturing is essential to achieving a more balanced trade relationship, enabling us to engage more equitably with nations like Bangladesh. I’ve had productive discussions with the Bangladeshi High Commissioner and key British-Bangladeshi business leaders focused on increasing our exports.
Bangladeshi High Commissioner (Credits: X.com)
Our relationship with Bangladesh is built on mutual respect and shared history as part of the Commonwealth. This partnership can evolve into a robust, balanced trade relationship that benefits both nations.
In addition to trade and economic focus, I’ve delved into Bangladesh’s history. Recently, I spoke at an event commemorating the 1971 genocide, advocating for broader recognition of the atrocities committed against the Bangladeshi people.
This role is not just about enhancing trade ties but also about celebrating and understanding our shared history. It’s about making the most of our Commonwealth connections with one of the world’s fastest-growing economies. Strengthening these ties will benefit the UK and Bangladesh economically, create jobs, and promote British goods on a global scale.
