Tuesday, 27 February, 2024
Tuesday, 27 February, 2024

Saudi businesses interested to invest in Bangladesh

Staff Reporter
  09 Feb 2023, 23:35

The businesses of Saudi Arabia is very much interested to invest in Bangladesh as a high-profile delegation of the Kingdom, led by Crown Prince of Saudi Arabia Muhammad bin Salman Al-Saud, would take part in the Bangladesh Business Summit in March next.

The Ambassador of Saudi Arabia to Bangladesh Issa bin Youssef Al-Dahilan said this when he met the minister at his secretariat office today.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) will organize the Bangladesh Business Summit 2023 in March.

Terming Saudi Arabia as a friendly nation of Bangladesh, the Saudi Ambassador said that his country attaches higher priority on its relations with Bangladesh in the areas of investment and bilateral trade.

Youssef said that the Saudi delegation would take part in the Bangladesh Business Summit to make investment.

In response, the Commerce Minister said that Saudi Arabia is a big and long-standing development partner of Bangladesh while Bangladeshi RMG, bakery item, vegetables, juice, jute-made goods are being exported to Saudi Arabia.

Besides, he said Bangladesh imports petroleum oil, petroleum gas, fertilizer, dates and other products from the Kingdom.

Tipu informed that in the last fiscal year (FY22), Bangladesh exported goods worth $290.64 million to Saudi Arabia against the imports of $1,693.26 million.

Mentioning that some 100 special economic zones are being set up in the country following the directives of Prime Minister Sheikh Hasina, he said that the Saudi investors would be benefited if they invest in those economic zones.

Meanwhile, the visiting Foreign Minister of Gambia Dr. Mamadou Tangara also met the Commerce Minister at his secretariat office and discussed issues of mutual interests including, trade, commerce and investment.

Apart from this, a Canadian delegation led by Canadian High Commissioner to Bangladesh, Lilly Nicholls met the Commerce Minister at his official residence.

During the meeting, they proposed for supplying Kelowna edible oil and seed to Bangladesh on G to G basis. In response, the Commerce Minister assured them of considering the matter.

Tipu also urged the Canadian investors to invest in Bangladesh.

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