However, he lauded the country's steady GDP growth and said Bangladesh has achieved a lot in terms of economic activities since its independence in 1971.

About the law and order situation in Bangladesh, he said that the law and order situation here is not so bad as it is being projected in media.

"The situation is also similar in Italy where media projection is a bit more exaggerated than the reality," Pietro Ballero pointed out.

On Italian investment in Bangladesh, Ballero said probability of Italian investment here is grim because only big companies invest in overseas countries and the number of such companies in Italy is very insignificant.

Although Bangladesh does not get significant financial help from Italy, Italy provides a huge amount of money to international organisations like European Union, Ballero said, adding that Bangladesh is thus benefited through these international organisations and Italy also.

He said at present nearly 80 thousand to one lakh Bangladeshi expatriates are living in Italy, both legally and illegally.

Peter May, vice president of Ficci and managing director of Kafco, Rafi Omar, executive member of the foreign investors' chamber, were present at the monthly meeting, among others.