Trade Advisor Dr. Salehuddin Ahmed stated that Bangladesh will prioritize ease of transition from a Least Developed Country (LDC) to a Developing Country. He emphasized that this transition will not happen suddenly, but rather at a logical and appropriate time, and will be in the best interests of the country and its people.
He made these remarks during the event marking the initiation of discussions for the Bangladesh-Singapore Free Trade Agreement at the Ministry of Commerce in the Secretariat.
The Economic and Trade Advisor further mentioned that the government will not rush the process of graduating from LDC status to developing country status. The decision will be made with adequate time and careful consideration of the situation.
He added that the government intends to sign free trade agreements with as many countries as possible, particularly with Japan, Indonesia, and India. Additionally, efforts will be made to engage with ASEAN and Malaysia.
He noted that businessmen are always concerned about trade, seeking various opportunities and benefits, which will also be taken into account.
The Advisor also highlighted that Singapore presents a promising area for expanding Bangladesh’s trade. Apart from goods, there are also opportunities for improving services and investment sectors between the two countries. A preliminary initiative has been taken to sign a Free Trade Agreement between Bangladesh and Singapore to enhance trade and investment, he added.
During the discussion, Singapore’s High Commissioner to Bangladesh, Derek Loh, mentioned that due to its geographical location, Chattogram is particularly important for Singapore. The PSA shipping company is investing in Chattogram’s Bay Terminal, which will transform into an international large port. This will further boost trade between the two countries.
The event also featured speeches from Lutfur Siddique, the Special Envoy for International Affairs to the Interim Government’s Chief Advisor, Chowdhury Ashik Mahmud Bin Harun, Chairman of the Bangladesh Investment Development Authority, and Mohammad Selim Uddin, Secretary of the Ministry of Commerce.
Earlier, Singapore’s High Commissioner Derek Loh paid a courtesy visit to Trade Advisor Dr. Salehuddin Ahmed in his office at the Secretariat.
