Bangladesh holds tremendous potential to increase engagement with South Africa in multilateral sectors as the latter, a member of BRICS, is going to be an economic giant in the world economy in the coming days, said Md Solaiman Alam Seth, Honorary Consul of South Africa in Bangladesh in an interview marking the Freedom Day of South Africa.

Freedom Day is the commemoration of the first democratic elections held in South Africa on 27 April 1994. Every year on April 27, South Africans celebrate Freedom Day. The day is in honor of the first election in which South Africans of all races could vote. In that election, in 1994, Nelson Mandela was elected president of the country.

Md Solaiman Alam Seth some half a million Bangladeshis live in South Africa and most of them are engaged in small businesses.  With an estimated GDP of nearly $400 billion, South Africa has nearly 60 million population, according to an estimate

Solaiman, also a leading businessman and a Jatiya Party leader, praised steady economic growth of Bangladesh over the years, empowerment of women specially by the readymade garment sector, increasing enrollment of girls’ education, success in tackling disaster management and improvement in primary health and sanitation.  

The construction of Padma Bridge, introduction of metro rail, opening of Karnaphuli tunnels, partial opening of Elevated Expressway and construction of third terminal at the Hazrat Shahjalal International Airport are some of the major development works that the country has witnessed in recent years....

As Bangladesh was largely dependent on the US and the European Union markets for its garment exports, it could now make attempts to explore the African markets, he said.

To a question, he said that South Africa is exporting possibility of setting up a diplomatic mission in Dhaka to help boost trade and business.

South Africa is deeply interested in setting up a world standard maritime university to groom necessary manpower required in deep sea exploration.

Bangladesh exported goods worth 138853141.3 (139 million US dollars) US dollars to South Africa during 2022-23 fiscal year

Bangladesh -South Africa bilateral trade stood at nearly 310 million US dollars in 2021-22 fiscal year that stood at to 255 million US dollars in 2022-23 fiscal year showing nearly 20 per cent drop compared to the previous year.

Bangladesh exported goods worth 138853141.3 (139 million US dollars) US dollars to South Africa during 2022-23 fiscal year and South Africa exported goods worth 115 million US dollars during the same period making bilateral trade around worth 255 million US dollars (127150 lakh crore taka (115 million US dollars, one US dollar =110 taka ) in 2022-23 fiscal year.

Bangladesh exported goods  worth 131329150.1 (131 million US dollars ) to South Africa 131329150.1 in 2021-22 fiscal year and  South Africa exported goods worth 160840 lakh crore taka (180 million US dollars one US dollars =90 Taka)) to Bangladesh  in 2021-22 fiscal year making bilateral trade worth over 310 million US dollars).

Bangladesh exported goods  worth 131329150.1 (131 million US dollars ) to South Africa 131329150.1 in 2021-22 fiscal year. South Africa exported goods worth 160840 lakh crore taka (180 million US dollars one US dollars =90 Taka)) to Bangladesh  in 2021-22 fiscal year. The bilateral trade between Bangladesh and South Africa crossed 310 million US dollar in 2021-22 fiscal year that drooped to nearly 255 million US dollars in 2022-23 fiscal year, according to EPB…..

Bangladesh exported goods worth some 100 million US dollars (99696963.47 US dollars) during the July-February  period of 2023-24 fiscal year showing that the export of the country this fiscal year can touch 150-million-US dollar mark, according to the data of the Export Promotion Bureau (EPB) of Bangladesh.  

Terming the bilateral relations between South Africa and Bangladesh as warm and friendly, he said Dhaka-Pretoria ties will reach a new height in the days to come. He expressed satisfaction over the cordial and close ties between the two countries with shared history, faith, culture and values.

Presently, Bangladesh has made tremendous progress in the social and economic development areas. Child mortality, life expectancy, child literacy and specially girl child literacy are good examples of the tremendous progress in this country during the last years. In Bangladesh, the communication sector has made unbelievable progress.

He highly appreciated the government steps in ensuring security of expats living in Bangladesh and bringing back confidence of investors.

He said that South Africa has successfully replicated micro-credit model in its country to combat poverty and uplift the living standard of poor people

He said the microcredit model has been successfully introduced in her country to alleviate sufferings of the poor. Meanwhile, a seven-member South African business delegation during their visit to Bangladesh in March 2024 have expressed their interest in investing in this country, especially in the readymade garment (RMG) sector.

The delegation shown interest in setting up joint ventures  between the business communities of both countries to harness mutual interests and opportunities.

The Chittagong Metropolitan Chamber of Commerce and Industry (CMCCI) hosted a pivotal meeting with the business delegation on Thursday at the CMCCI Auditorium in Agrabad Quadri Chamber.

The delegation, led by Nokuthula Patience Ndlovu, engaged in an insightful exchange of views with members of the CMCCI board of directors, prominent businessmen, and stakeholders.

Khalilur Rahman, president of the Chattogram Metropolitan Chamber, presided over the meeting, underscoring the significant investment opportunities available to South African businessmen in Bangladesh.

Khalilur emphasised the vast potential across various sectors including ICT, infrastructure, textile, and tourism. Highlighting the robust bilateral relations between Bangladesh and South Africa, Khalilur expressed optimism about fostering closer trade ties with the assistance of the CMCCI.

In agreement, Nokuthula Ndlovu lauded Prime Minister Sheikh Hasina's leadership in propelling Bangladesh's development trajectory.

Expressing keen interest in investing in Bangladesh, particularly in the garment sector, Ndlovu noted the conducive business environment and shared developmental aspirations between the two nations. She called for collaborative efforts between the business communities of both countries to harness mutual interests and opportunities.

Jasim Chowdhury, vice president of KDS Group, echoed similar sentiments during the meeting, emphasising the vast prospects and opportunities for trade and investment in Bangladesh across various sectors.

The discussions further delved into specific avenues for cooperation and collaboration, with CMCCI Vice President AM Mahbub Chowdhury, Vice President (Foreign Trade and Affairs) Wahid Raihan Iftekhar Mahmud Russell, Member Alhaj Solaiman Alam Seth, and representatives from KDS Textile, KDS Garments, and KY Steel actively participating and contributing insights.