Bangladesh and the United Arab Emirates (UAE) are likely to sign four to five MoUs during Prime Minister Sheikh Hasina's upcoming visit to the Gulf nation to further strengthen bilateral relations.
“This visit will play an important role in keeping the labour market intact and creating new avenues for investment in Bangladesh to strengthen economic relations,” Foreign Minister AK Abdul Momen told the media at state guesthouse Padma on Sunday afternoon, reports UNB.
He said Bangladesh wants to enhance trade and investment between the two countries through more collaboration.
Foreign Secretary Masud Bin Momen, Secretary (East) Mashfee Binte Shams, and other senior officials of the Ministry of Foreign Affairs were also present.
Before the media briefing, the foreign minister held a meeting with relevant ministers and PM's Private Industry and Investment Adviser Salman F Rahman to review investment proposals from the UAE and Saudi Arabia.
Sheikh Hasina is scheduled to leave for UAE Monday, as the two countries eye elevating their relationship to a comprehensive partnership with deeper political engagement. The prime minister will return home on March 12.
She is going to the UAE at the invitation of Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai and vice-president of the United Arab Emirates, and will also attend a program at Expo 2020 Dubai on Tuesday to mark International Women’s Day, said the foreign minister.
The prime minister has agreed to visit the UAE with the intention of highlighting the image of the country and its achievements in the economic sector, as well as the empowerment of women in Bangladesh, Momen said.
Trade and commerce, investment, manpower, and cooperation in other potential areas, including renewable energy, will be discussed during the visit.
He said during the last financial year, about 30,000 workers from Bangladesh went to the UAE. “We hope that this number will increase in the future.”
In terms of bilateral trade with the UAE, Momen said import and export volume stood at around $2 billion, and the trade deficit now stands at $1.5 billion.
“The main reason is that we import fuel from them. This visit will be important to increase the volume of our exports to that country. That is why the two countries will discuss ways to establish a direct shipping line,” said the foreign minister.
Besides, a joint forum will be organized for the business communities of the two countries, which he thinks will be very beneficial for trade and creating new avenues for investment in Bangladesh.
The prime minister will hold a meeting with Sheikh Fatima, the Mother of the United Arab Emirates, which is a rare opportunity, said Momen.
She will also visit the Bangladesh Pavilion at Dubai Expo, where the success story of Bangladesh in the last year has been faithfully presented to the world.
During her visit, the prime minister will lay the foundation stone of the new campus of the Bangladeshi Community School and Bangladesh English Private School at Ras Al Khaimah.
Responding to a question, Momen said the government has a plan to construct three “Bay Terminals” in Chittagong and one of the Bay Terminals is likely to be implemented by DP World of the UAE. “It is under active consideration.”
Bangladesh and the United Arab Emirates have already reviewed bilateral relations, especially in view of the visit of the prime minister to the UAE.
Momen held a bilateral meeting with the UAE Foreign Minister Abdullah-bin-Zayed Al Nahyan in Dubai last month and discussed the issues of mutual interest as well as the upcoming visit.
The two countries acknowledged the existing “excellent” bilateral relations and underlined the need to work together in all potential areas for the mutual benefits of their citizens.
The countries are discussing ways to enhance air and maritime connectivity, especially establishing direct shipping links between the two countries’ seaports and introducing direct cargo flights to maintain seamless and uninterrupted supply chains.
The two countries are also willing to explore new contours of collaboration in the field of agriculture and food security, culture, cooperation in the field of science, innovation and technology with focus on ICT, IoT and digitalization in order to elevate the relationship to a comprehensive partnership.
