Badrul Ahsan :
The authorities of Saudi Arabia have agreed to increase imports from Bangladesh, sources at Bangladesh Embassy in Riyadh said.
The decision was reached at a bilateral meeting with Finance Minister AMA Muhith on Thursday in Riyadh.
To meet its increasing domestic demands, the Saudi authority has emphasized on importing goods like readymade garments (RMG), medicine and some other quality products from Bangladesh.
The two Ministers agreed also to explore investment and trade opportunities through sharing experiences, funding and arranging training.
In the meeting, both the sides have in principal agreed to open branches of Bangladesh’s Commercial Banks in Saudi Arabia with a view to promoting business transactions.
Apprising the recent initiatives and measures for social and economic development in Bangladesh, Muhith sought more financial support from the Saudi government in various projects, including building a fertilizer factory.
He also urged his Saudi counterpart to recruit quality manpower from Bangladesh.
However, agreeing to consider these proposals, the Saudi Finance Minister underlined the need for regular and increased interaction between businessmen of the two countries to enhance
better understanding in promoting trade and investment.
Following an invitation from Saudi authorities, Muhith and his 6-member delegation comprising senior officials from economic relations division, finance division and a representative from the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) are now visiting Saudi Arabia.
The finance minister has appreciated the active participation of Saudi delegation in the 11th session of the joint commission between the two countries held last week in Dhaka, where important decisions were taken to intensify bilateral cooperation, particularly in the areas of trade and investment.
Meanwhile, local exporters have hailed the decision of the government of Saudi Arabia for importing more goods from Bangladesh.
“Saudi Arabia can be a very potential destination for local exportable items. But due to some unavoidable circumstances, we could not explore the opportunities so far. The latest development will open new era of business for the local exporters,” President of Exporters Association of Bangladesh (EAB) Abdus Salam Murshedy told The New Nation on Thursday.
“Bangladesh was busy in negotiating manpower export in the Kingdom, but it was not disclosed for long that there are huge opportunity of export of goods like readymade garment and medicines,” he said.
Besides, there are huge markets for local goods in other Middle East countries. I will urge the government to try to explore those markets also,” Murshedy said.
The authorities of Saudi Arabia have agreed to increase imports from Bangladesh, sources at Bangladesh Embassy in Riyadh said.
The decision was reached at a bilateral meeting with Finance Minister AMA Muhith on Thursday in Riyadh.
To meet its increasing domestic demands, the Saudi authority has emphasized on importing goods like readymade garments (RMG), medicine and some other quality products from Bangladesh.
The two Ministers agreed also to explore investment and trade opportunities through sharing experiences, funding and arranging training.
In the meeting, both the sides have in principal agreed to open branches of Bangladesh’s Commercial Banks in Saudi Arabia with a view to promoting business transactions.
Apprising the recent initiatives and measures for social and economic development in Bangladesh, Muhith sought more financial support from the Saudi government in various projects, including building a fertilizer factory.
He also urged his Saudi counterpart to recruit quality manpower from Bangladesh.
However, agreeing to consider these proposals, the Saudi Finance Minister underlined the need for regular and increased interaction between businessmen of the two countries to enhance
better understanding in promoting trade and investment.
Following an invitation from Saudi authorities, Muhith and his 6-member delegation comprising senior officials from economic relations division, finance division and a representative from the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) are now visiting Saudi Arabia.
The finance minister has appreciated the active participation of Saudi delegation in the 11th session of the joint commission between the two countries held last week in Dhaka, where important decisions were taken to intensify bilateral cooperation, particularly in the areas of trade and investment.
Meanwhile, local exporters have hailed the decision of the government of Saudi Arabia for importing more goods from Bangladesh.
“Saudi Arabia can be a very potential destination for local exportable items. But due to some unavoidable circumstances, we could not explore the opportunities so far. The latest development will open new era of business for the local exporters,” President of Exporters Association of Bangladesh (EAB) Abdus Salam Murshedy told The New Nation on Thursday.
“Bangladesh was busy in negotiating manpower export in the Kingdom, but it was not disclosed for long that there are huge opportunity of export of goods like readymade garment and medicines,” he said.
Besides, there are huge markets for local goods in other Middle East countries. I will urge the government to try to explore those markets also,” Murshedy said.
