Singapore wants Bangladesh to accelerate negotiations on a long-discussed Free Trade Agreement, with a crucial third round of talks expected during the Singaporean trade minister’s visit to Dhaka next month.
Michelle Lee, Chargé d’Affaires of the Singapore High Commission in Dhaka, said on Tuesday that the negotiations should gather pace after only two rounds of discussions since the process began in 2022, stressing that Bangladesh should not have to wait another year for the next round.
“This third meeting is pivotal for the agreement,” Lee said during a visit to the offices of Dhaka Tribune and Bangla Tribune.
Citing Singapore’s experience of concluding an FTA with Sri Lanka in 2018, he said such agreements need not take years if negotiations are pursued with sufficient focus.
“We once concluded an FTA in a minimum of 18 months, specifically with Sri Lanka in 2018. Therefore, Bangladesh should intensify its focus on this agreement; we should not have to wait another year for a fourth meeting.”
His remarks put the spotlight on the potential for deeper economic ties between Bangladesh and Singapore, ranging from trade and investment to skilled manpower, aviation and technology.
Lee said Bangladesh possesses significant economic potential, but realizing it would require greater efforts to improve the investment environment and identify markets where Bangladeshi businesses can compete.
Skilled workers to remain in demand
Singapore will also continue recruiting skilled workers from Bangladesh as development activities generate demand for manpower, Lee said.
“Bangladeshi workers are integral to Singapore’s development,” he said.
“Extensive development work is underway in Singapore, an ongoing process, and the recruitment of skilled workers from Bangladesh will continue.”
He also identified opportunities for Bangladesh to build commercial partnerships with Singaporean businesses, including in ready-made garments and leather goods.
Lee said Bangladesh would need to conduct more targeted market exploration rather than wait for investment opportunities to emerge.
Singapore has several garment brands that could potentially work with Bangladesh, while its internationally recognized leather goods companies could offer another avenue for cooperation, he said.
Bangladesh also has opportunities to export food products to Singapore throughout the year, provided exporters meet international standards and identify the right market segments.
Investment climate needs improvement
Lee, however, stressed that attracting more Singaporean investment would require Bangladesh to improve its investment climate, including the broader environment in which businesses, workers and visitors operate.
He pointed to public safety and law and order in Singapore as factors contributing to confidence in the country’s overall environment.
“In Singapore, women and children can happily attend events late at night. Even if one accidentally leaves a phone in a taxi while returning home after an event, there is a good chance of getting it back,” he said.
“Singapore maintains strict law and order.”
His comments came as Bangladesh seeks to attract greater foreign investment and expand trade relationships with major Asian economies.
An FTA with Singapore could become an important component of that effort, particularly as Bangladesh looks to strengthen trade arrangements and improve its competitiveness in international markets.
More Dhaka-Singapore flights
Connectivity between the two countries could also increase, with discussions underway to add flights on the Dhaka-Singapore route.
Lee said Singapore Airlines is working with Bangladesh’s civil aviation authorities on plans to introduce an additional daytime flight.
“Discussions are underway to increase the number of flights between Dhaka and Singapore to foster greater people-to-people connectivity,” he said.
Greater air connectivity could support not only tourism and business travel but also the large Bangladeshi workforce in Singapore and growing commercial engagement between the two countries.
Waterlogging technology
Beyond trade and investment, Lee said Singapore could share technological expertise with Bangladesh to tackle persistent urban problems such as waterlogging.
He said Singapore uses drones, cameras and other technologies to monitor its drainage network and identify potential waterlogging before problems become severe.
Singapore itself once experienced flooding during heavy rainfall but has invested heavily in drainage infrastructure, monitoring and maintenance, he said.
“We have invested heavily in the development and maintenance of our drainage system. We use drones, technology and cameras to detect waterlogging and take immediate action,” Lee said.
“It is a straightforward process, not rocket science, and Bangladesh could do it too.”
He suggested Bangladesh could initially test the technology through a pilot project in selected areas.
“If Bangladesh wishes, it could adopt our technology and implement a pilot programme in specific areas,” she said.
Lee visited the Dhaka Tribune and Bangla Tribune offices on Tuesday morning at the invitation of the two media organizations and toured their facilities.
Dhaka Tribune Editor Reaz Ahmad, Bangla Tribune Executive Editor Udisa Islam and other officials were present during the visit.
During discussions with the editors, Lee repeatedly returned to Bangladesh’s economic potential, and the need to translate that potential into concrete opportunities.
With the Singaporean trade minister expected in Dhaka next month, he indicated that accelerating the FTA negotiations could be one of the most immediate steps towards doing so.