EXPLORING THE TRADE AND INVESTMENT OPPORTUNITIES IN AFRICAN COUNTRIES - A GATEWAY FOR THE ECONOMIC DEVELOPMENT OF BANGLADESH

Abstract

Bangladesh is considered one of the global emerging economies among the developing countries. Over the last few years, Bangladesh economy experienced sustained growth in GDP. At the same time Bangladesh stands among the severely affected countries due to climate change. Thus Bangladesh needs to search for alternative means of sustenance especially in terms of food production and at the same time to avoid pressure from her huge population. Thus, further exploration of foreign markets has become a necessity for an emerging economy like Bangladesh. There is a negative perception about Africa almost all over the world. Bangladeshis are no exception to that. We must shun that age old medieval days ideas about total behavior of the Africans and update ourselves about present day rising Africa. Africa is the second largest continent with a total land area of more than 3,025.8 million hectares, abundance of natural resources, 54 sovereign countries and 180 million hectares of arable land. Political instability substantially affects the ideal investment environment in Africa. For many decades, most of the African States were involved in armed conflicts. The vast majority of Africans had been struggling hard to get away from their distressed life. However, African countries experienced rapid economic growth in the last decade. Africa could be the world’s breadbasket and feed rest of the world. But according to the African Development Report 2012, Africans’ food security is much below than that of the accepted standard. Many investors have already identified Africa as a potential business hub. Vast resources and huge potentials of Africa have already started attracting foreign investors. Bangladeshi investors should immediately come forward as soon as possible to explore business opportunities in African Countries. Lucrative sectors for Bangladeshi investors are: Agriculture, Tourism, Infrastructure, Fast Moving Consumer Goods, African ICT, RMG and Pharmaceuticals. Last but not the least, the risk of not going to Africa is to find it that it is too late to get it.