Dhaka for purchasing LNG from Algeria: Momen

Foreign Minister AK Abdul Momen has expressed keen interest in buying LNG from Algeria to meet Bangladesh's growing demand due to the country's economic expansion.

He made the remarks while Algerian Finance Minister and Head of Algerian delegation to BRICS Outreach Forum Laaziz Faid paid a courtesy call on him in Johannesburg on Wednesday, said a press release issued in Dhaka today.

In response to selling LNG to Bangladesh, the Algerian minister said he would take up the issue with the concerned stakeholders.

Highlighting that Bangladeshi pharmaceuticals exports to more than 100 countries, the foreign minister suggested that Algeria can import the best quality pharmaceutical products from Bangladesh at a reasonably low price.

Both countries may also start a joint venture on pharmaceuticals, Momen said.

The foreign minister also proposed cooperation in IT and ICT sectors, defence, construction sectors, edible oil, and agriculture.

Momen informed the long historical relations between both countries, which was pioneered by Bangabandhu Sheikh Mujibur Rahman and expressed satisfaction at the state of excellent bilateral relations between Bangladesh and Algeria.

The Algerian finance minister reiterated the NAM Summit of 1973 and defined BRICS as a fruit of NAM.

Both the ministers agreed that despite excellent relations there are still huge untapped prospects between the countries.

Momen requested Faid to exhilarate the process of completing the Agreement on "Reciprocal bilateral promotion and protection of investment" and "Avoidance of double taxation".

He stressed the need for expanding cooperation in the new and emerging areas through a time-bound and target-oriented roadmap and expediting pending agreements, MoUs, and new areas of collaboration.

The Algerian finance minister agreed to conclude those agreements as soon as possible.