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Bangladesh, Saudi Arabia explore enhanced investment in economic zones and offshore banking at high-level meeting

Bangladesh, Saudi Arabia explore enhanced investment in economic zones and offshore banking at high-level meeting

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They reviewed the entire spectrum of partnerships between Bangladesh and Saudi Arabia

UNB

Publisted at 9:11 PM, Mon Jul 1st, 2024

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Bangladesh and the Kingdom of Saudi Arabia today discussed ways to increase Saudi investment in special economic zones and offshore banking systems in Bangladesh.

The issues were discussed at the second Bangladesh-Saudi Arabia Political Consultations held in Riyadh. Foreign Minister Dr Hasan Mahmud led the Bangladesh delegation.

Minister Hasan discussed with his Saudi counterpart Prince Faisal bin Farhan Al Saud wide-ranging issues of regional and global development and of bilateral, economic, manpower and energy partnerships.

The high-level meeting was also attended by Salman F Rahman, advisor to the Prime Minister for Private Industry and Investment; Additional Foreign Secretary (Bilateral-East and West) and Inspector General of Missions Dr Md Nazrul Islam; Bangladesh Ambassador to the Kingdom of Saudi Arabia Md Javed Patwari; Director General (West Asia) Md Shafiqur Rahman; Director General (Foreign Minister's Office) Md Arif Nazmul Hasan and Saudi officials.

They reviewed the entire spectrum of partnerships between Bangladesh and Saudi Arabia.

At the meeting, they emphasized on Bangladesh-Saudi Arabia Joint Business Council to speed up their activities for the development of commercial relations between the two countries.

They also discussed Bangladesh’s special privileges in importing oil from Saudi Arabia.

The Foreign Minister thanked Saudi Arabia for providing employment opportunity to 3 million Bangladeshis in the kingdom.

A productive discussion was held on bringing more transparency in the migration of Bangladeshi manpower to Saudi Arabia and forming a joint task force to stop the harassment of workers by groups with a vested interest, said the Ministry of Foreign Affairs.

Foreign Minister Hasan requested to provide special registration opportunities to Bangladeshi expatriates doing business in Saudi Arabia.

The Saudi Foreign Minister also assured cooperation regarding Rohingya repatriation.

At the meeting, both sides emphasized the united efforts of the Muslim world to stop Israel’s brutality in Gaza.

The upcoming visit of the Saudi Crown Prince and Prime Minister to Bangladesh was also discussed at the meeting.

They decided to adopt a joint action plan for proper celebration of the golden jubilee of Saudi-Bangladesh diplomatic relations next year and to elevate the meeting of the Bangladesh-Saudi Arab Joint Commission to the ministerial level. After the meeting, they joined a lunch hosted by the Saudi Foreign Minister in honour of the Foreign Minister of Bangladesh.

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