A 12-member business delegation led by Derek Loh, the Non-Resident High Commissioner of Singapore to Bangladesh, met with Dhaka Chamber of Commerce & Industry (DCCI) President Taskeen Ahmed during their visit to DCCI on 10 April 2025.
During the meeting, Taskeen Ahmed highlighted the recent suspension of additional tariffs by the United States for 90 days, calling it a temporary relief for global trade. He emphasized the need for diplomatic negotiations to resolve the issue permanently.
Ahmed pointed out that Singapore is Bangladesh's second-largest investor, with nearly $1.78 billion in investments across various sectors.
Bilateral trade between the two nations stood at $2.64 billion in the last fiscal year. He also noted that Singapore’s expertise in port management could be a valuable asset for Bangladesh’s infrastructure, logistics, renewable energy, IT, agriculture, and health sectors. Additionally, he urged Singapore’s support in developing the skills of Bangladeshi SME entrepreneurs and modernizing Bangladesh’s jute and agriculture sectors.
High Commissioner Derek Loh stressed the importance of reducing production and logistics costs to boost business efficiency in Bangladesh. He emphasized that improving port management could significantly lower operational costs for local entrepreneurs, enhancing their global competitiveness. Singapore, he added, is eager to collaborate with Bangladesh in enhancing logistics efficiency and infrastructure development.
Loh also underscored the importance of revenue sector reforms, automation, and the adoption of ESG (Environmental, Social, and Governance) compliance to expand Bangladesh’s export market. While ESG compliance may increase investment costs, he said, it would ultimately enhance Bangladesh’s competitiveness in the global market. Singapore has been focusing on investments in renewable energy, which, he noted, plays a crucial role in reducing production costs.
The meeting was attended by DCCI Senior Vice President Razeev H Chowdhury, Vice President Md. Salem Sulaiman, and other board members.
