Singapore’s non resident High Commissioner Derek Loh during a courtesy call on Commerce Minister Khandaker Abdul Muqtadir expressed his country’s interest in expanding trade and investment in Bangladesh.
The meeting at the Secretariat on Tuesday discussed reducing the bilateral trade deficit, boosting Singaporean investment in Bangladesh, cooperation in renewable energy, agricultural exports, food security, and prospects for eco friendly industries.
During the meeting, Commerce Minister Muqtadir said Bangladesh is also eager to strengthen trade and investment ties with Singapore. He noted that the country has become a promising destination for foreign investment with its business friendly environment, improved infrastructure, skilled workforce, and export oriented industries.
He added that there are ample opportunities for cooperation in agriculture, food processing, renewable energy, logistics, port infrastructure, and green industries. The government is working to attract foreign investment in these sectors and diversify exports.
High Commissioner Loh said Singapore is keen to do more business and investment in Bangladesh, citing the Bay Terminal project as a landmark initiative.
He also said that the investment, estimated at $800 million to $1 billion, will play a vital role in improving Bangladesh’s trade infrastructure and help attract further foreign investment.
He added that once operational, the Bay Terminal will enhance port efficiency, reduce demurrage costs, and deliver significant savings for Bangladeshi exporters. Such infrastructure development, he said, will open new opportunities in trade and industry.
On food security, Loh said Singapore is interested in importing agricultural products from Bangladesh. Singapore currently sources fresh produce from Australia, New Zealand, the US, Europe, and Japan, and Bangladesh could become a promising supplier. This, he noted, would also help reduce the bilateral trade deficit.
Additional Secretary Ayesha Akhter and senior officials of the commerce ministry were present at the meeting.
