- Feb 4, 2022
- Reaction score
The government has taken initiatives to sign Free Trade Agreement (FTA) between Bangladesh and Singapore to increase trade and investment, Commerce Minister Tipu Munshi MP said.
"Singapore is an important trading partner of Bangladesh. Bangladesh is a potential area for trade expansion. Bangladesh's relationship with Singapore needs to be developed in the goods, services and investment sectors as well," he said at the Memorandum of Cooperation (MOC) signing ceremony at Commerce Ministry with Singapore Wednesday (16 November).
Singapore Industry Minister S Iswaran and Commerce Minister Tipu Munshi MP signed the MOC aimed at expanding trade, services and investment between the two countries, said a press release.
The Singapore minister said there are opportunities to increase trade, investment and economic cooperation between the two countries.
"Singapore is keen to work with Bangladesh. An international airport is being built in Cox's Bazar, Bangladesh. This airport will be very helpful for the growth of trade and tourism. Singapore will work with Bangladesh in the ICT sector. It can increase publicity in the international arena on various issues including tourism of Bangladesh. Bangladesh has huge potential."
In response to questions from journalists, Commerce Minister Tipu Munshi said that Bangladesh's skilled manpower is going to Singapore and working there with a good reputation.
Commerce Ministry Senior Secretary Tapan Kanti Ghosh, Singapore's High Commissioner in Dhaka, members of the delegation led by the Singapore Trade Minister and senior officials of Commerce Ministry were present.
Note: As of 2020, Bangladeshi exports to Singapore amount to around $161 million.