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Bangladesh, Singapore agree on accelerating signing of FTA

The Daily Star - 13 January 2022

Bangladesh, Singapore agree on accelerating signing of FTA

Bangladesh and Singapore have agreed to accelerate the signing of free trade agreement (FTA) to boost trade and investment.

The development came as Foreign Minister AK Abdul Momen spoke over the phone with Singapore’s Foreign Minister Vivian Balakrishnan today.

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Momen noted that Singapore is an important bilateral trade and investment partner of Bangladesh while applauding the initiative for an FTA between the two countries.

He pointed out that FTA would be mutually beneficial by further enhancing the bilateral trade and investment.

Momen encouraged more Singaporean investors to invest in power, telecommunication, renewable energy, power transmission sectors in Bangladesh, taking advantage of a friendly investment environment in the country.

He spoke of the rapid digital transformation of the economy and society in Bangladesh, while also seeking Singaporean cooperation in the area of ICT and digitisation.

The Singapore foreign minister assured full support and assistance to this end.

Momen thanked Singapore for humanitarian assistance to Rohingyas in Bangladesh and sought the proactive role of Singapore and ASEAN in bringing a sustainable solution to the crisis by ensuring their urgent return to their homeland in Myanmar.

Balakrishnan assured Singapore’s continued support for a durable solution to the crisis.

Momen lauded Singapore’s continuous support to the Bangladeshi expatriate workers during the ongoing Covid-19 pandemic, while suggesting that Singapore consider employing more skilled workers from Bangladesh.

Referring to 50 years of diplomatic ties between the two countries in 2022, the ministers agreed to celebrate the special occasion in a befitting manner in both countries.

The foreign ministers invited each other to visit their respective countries.

 source: The Daily Star