Chief Adviser Professor Muhammad Yunus on Friday urged Singaporean authorities to assist in recovering billions of dollars laundered from Bangladesh and to help minimize the cost of migration from Bangladesh.
The chief adviser made this call during a meeting with Singaporean Ambassador to Bangladesh Derek Loh who visited his office in Tejgaon.
"A lot of money was siphoned off from Bangladesh to many countries, including Singapore," Yunus told Loh, as they discussed the issue for about an hour.
"We need full cooperation from Singapore," he added.
Loh pledged Singapore's cooperation with Dhaka.
Yunus also urged the island nation to collaborate with Bangladesh in its efforts to significantly reduce the cost of recruiting workers from Bangladesh.
He explained that the interim government aims to lower migration costs to help the country’s overseas workers remit more money to their families.
"We can create a model structure with Singapore to reduce recruitment costs," he said.
Loh expressed Singapore’s desire to work with Bangladesh, saying the country aims to eliminate rent-seeking practices in the recruitment process.
He suggested that Bangladesh digitalize its overseas recruitment system, which would reduce the risks of human trafficking and exploitation for workers.
The two also discussed cooperation in trade, investment, foreign policy, shipping, education, and healthcare for their respective peoples.
Yunus said Bangladesh is now ready for business, noting that the economy has made a strong recovery just three months after being left in shambles by the previous dictatorship.
"It is a good time to do business here," the chief adviser said.
Francis Chong, senior director at Singapore's Ministry of Trade and Industry, who accompanied Loh, mentioned that Bangladesh had proposed a Free Trade Agreement (FTA) with Singapore in 2021.
A feasibility study has been completed on the proposed FTA, and both nations will now decide on the scope for launching negotiations on a free trade deal, he said.
Loh expressed Singapore's willingness to share its expertise in water treatment and waste energy management. He also proposed collaboration between the food agencies of both countries.
On the interim government’s foreign policy, Yunus said that his government is focused on maintaining good relations with neighbouring countries and is working to revive Saarc as a platform for deeper engagement with South Asia.
He sought Singapore's support for Bangladesh’s inclusion as a sectoral dialogue partner of Asean, to which Ambassador Loh responded positively.
Yunus also said Bangladesh has received significant support from its Western and Eastern allies since the interim government took office.
"We don’t distinguish between East and West. We have to build bridges everywhere," he said.
