Saudi Arabia keen to boost economic ties with Bangladesh

The Saudi government is working to explore the huge business potentials between Bangladesh and Saudi Arabia and also keen to enhance commerce and investment relations with Bangladesh.

This was stated by a nine-member Saudi delegation led by its two ministers – – Commerce and Planning Minister Dr Majid Bin Abdullah Al Qosaibi, and Economy and Planning Minister Mohammad Bin Mazyed Al-Tawijri as they made a courtesy call on President M Abdul Hamid at Bangabhaban this afternoon.

The delegation said a working committee on commerce and investment in Bangladesh has been formed and the team is working properly for utilizing the potential.

They stressed on proper marketing and communication to use those potential and mentioned that Bangladesh had bright possibility in some sectors especially readymade garment (RMG), medicine and agriculture.

Lauding the country’s ongoing tremendous development trend under the Prime Minister Sheikh Hasina, the ministers said Bangladesh has done a remarkable progress within a very short time.

Welcoming the KSA delegation, the President said such the high-level visit between the two countries is very significant to enhance bilateral ties.

“The existing traditional relations have now turned into the tie of partnership between Bangladesh and Saudi Arabia,” President Hamid said.

Mentioning the fourth summit conference of non-aligned countries held in Algiers, Algeria in 1973 between the then king of Saudi Arabia Faisal bin Abdulaziz Al Saud with Father of the Nation Bangabandhu Sheikh Mujibur Rahman, the President said the relationship with Bangladesh developed since then.

The head of the state added: “Subsequently the recent visit of Prime Minister Sheikh Hasina to the Kingdom of Saudi Arabia has opened a new window of opportunity.”

Mentioning the Memorandum of Understanding (MoU) and agreements signed during the Prime Minister visit in Saudi Arabia , President Hamid said “Bangladesh is very much interested to implement these MoUs and agreements. Then the volume of trade and investment between the two countries will be increased remarkably.”

President Hamid hoped that the relation would get stronger in days to come.

KSA delegation members included ambassador of Saudi Arabia in Dhaka Abdullah Bin Hajja Al-Mutairi, secretary for labour affairs of the Ministry of Labour and Social Development, assistant under secretary for foreign trade of the Ministry of Commerce and Investment, General Supervisor of Marketing and Communication of the, Public Investment Fund.

Among others, Private Industry and Investment Adviser to the Prime Minister Salman Fazlur Rahman, Secretary Bilateral (Asia and Pacific) of the Ministry of Foreign Affairs Mahbub Uz Zaman, Ambassador and Permanent Representative to OIC Golam Moshi and Director General (West Asia) M Aminul Haq were also present.