Finance
Bangladesh-Singapore MoC signed with Singapore to expand trade
Own Correspondent, Dhaka, Nov 17: A Memorandum of Cooperation (MOC) has been signed between the two countries to increase bilateral trade and investment between Bangladesh and Singapore.
Commerce Minister Tipu Munshi and Singapore's Minister for Communications, Trade and Industry S Iswaran signed the agreement on behalf of their respective governments at a ceremony at the Secretariat on Wednesday.
At that time, Commerce Minister Tipu Munshi said, MoC will play a significant role in the expansion of bilateral trade and investment in the coming days. There will be a detailed discussion on how to further enhance the cooperation between the two countries.
He said, Singapore is an important commercial partner of Bangladesh. Bangladesh is a potential area for trade expansion. He mentioned that there is a need to further develop Bangladesh's relations with Singapore in terms of goods, services and investment.
The signing ceremony was attended by Prime Minister's Adviser on Private Industry and Investment Salman F Rahman, Senior Secretary to the Ministry of Commerce Tapan Kanti Ghosh and the High Commissioner of Singapore posted in Dhaka among others.
Tipu Munshi said that initiatives have been taken to sign Free Trade Agreement (FTA) between the two countries to increase trade and investment. A joint working group is working for this purpose. He expressed hope that it would be possible to start negotiations soon.
In response to a question from the journalists, the commerce minister said that both countries want to remember the completion of 50 years of our diplomatic relations with Singapore. He said that Singapore is interested in increasing trade and investment in Bangladesh's tourism, halal food and other sectors.
Singapore's Minister of Communications, Trade and Industry S Iswaran said there are many opportunities to increase trade, investment and economic cooperation between the two countries. Singapore is keen to increase economic ties.
He said that an international airport is being built in Cox's Bazar, Bangladesh. This airport will be very helpful for the growth of trade and tourism. He mentioned that there is a need to increase the campaign to highlight the tourism industry of Bangladesh in the international arena.
