Thank you so much, honourable Chair, vice-chairs, members of the Standing Committee on Citizenship and Immigration, other witnesses, ladies and gentlemen.
It is my pleasure and honour to be able to speak before you. I will be brief because I have shared my business case with you, so I'm sure you have had some time to look at it. I'll just highlight certain aspects of it.
I was listening to my colleague from Nigeria, Mr. Christian.
This is the first time I'm appearing before the committee. I would like to say only a few things. Bangladesh has excellent relationship with Canada. We have no problem whatsoever with this great country. We are going to observe 50 years of diplomatic relations this February 14, on Valentine's Day, and we acknowledge Canada's contribution to our socio-economic development.
Bangladesh has graduated as a middle-income country, and as you know Bangladesh is now known as a development miracle. Our GDP is over $409 billion U.S. Currently, Bangladesh is the 37th-largest economy of the world and we expect to be 24th-largest economy by 2030.
The quality of life, the affordability and the overall socio-economic development in the country we have achieved have enabled our young students to study abroad in big numbers. I am very happy to inform you that Canada is the number one destination for our Bangladeshi students. Every year around 40,000 to 50,000 young students are eligible, qualify and have all the admission requirements to study at Canadian universities.
Unfortunately, for some reason the rejection rate of student visas is huge. Since the Canadian visa centre is not in Bangladesh, we really don't have the exact number, the rate. The distribution centre has not informed us, but as far as we are aware the number is very high and that's why we have been working with our Canadian colleagues to transfer the visa centre to Dhaka. But the fact remains that compared to the number of applications, compared to the rate of eligibility, the rate of acceptance by Canadian universities and the rate of student visa approvals are very low, and the numbers are not growing because of the systemic obstacles.
That's why I'm appearing before you, to ask you to kindly consider Bangladesh for inclusion in the student direct stream. As I have said, a huge number of students can afford this GIC of $10,000 Canadian. Not only that but one good thing for us, we are also very happy to inform you, is that parents in Bangladesh also think that Canada is the safest country in the world to which to send their children to study. That's why the number has overtaken those for the U.K. and the U.S.A. in recent years. But, unfortunately, because of the systemic restrictions and obstacles they are unable to come to study there.
One thing I'd like to highlight is that Canada has two main areas of support in association with development. These are women's economic empowerment and skills development for youth. As I said, 40,000 to 50,000 young students every year are willing and can afford to study in countries like Canada. They are not able to come because of this issue.
Most importantly we are also very pleased to see that our female students are outsmarting their male counterparts in grades and in quality of education in Bangladesh. That's why the majority of these 40,000 to 50,000 students are women. So basically, Canada is not helping women's economic empowerment, at least in this area. So, we would like Canada to open its doors so that these young talented females, capable [Technical difficulty—Editor] to study.
Lastly, I'd just like to—