Minister of State for Commerce of Bangladesh to QNA: HH the Amir’s Visits Paves Way for Comprehensive Economic Partnership

HE Minister of State for Commerce of the People's Republic of Bangladesh, Ahasanul Islam Titu, underscored that the visit of HH the Amir Sheikh Tamim bin Hamad Al-Thani to Bangladesh represents a transformative opportunity to elevate the bilateral relations between the two countries to the level of comprehensive economic partnership. Speaking to Qatar News Agency , His Excellency said, "The visit could potentially constitute a significant boost to bilateral relations between the two countries, particularly in terms of trade, commerce and investment. Such high-level visits often serve as platforms for leaders to discuss and solidify agreements, partnerships, and initiatives that can enhance economic cooperation." "The visit may lead to discussions on projects or sectors where both countries can collaborate. This could include infrastructure development, energy projects, technology transfer, and capacity-building initiatives, among others. Promoting trade and investment opportunities in both countries can invo lve highlighting the investment-friendly policies, incentives, and market potential to attract businesses and investors." HE Ahasanul Islam Titu pointed out that the trade relations between Qatar and Bangladesh are gradually growing, and both countries have shown interest in enhancing their economic relations, especially in sectors such as energy, construction, labor, and promoting trade exchanges. He pointed out that Bangladesh relies on Qatari natural gas imports, while it is keen to expand its export market to Qatar, especially in areas such as garments, accessories, pharmaceuticals, processed and dry agricultural products, fish, paper, plastic, leather products, and some electrical machinery and equipment. "While trade relations between the two countries are not at their peak, there are positive signs of growth and mutual interest in strengthening economic cooperation," he added. He pointed out that the trade balance heavily favors Qatar, with Qatari exports to Bangladesh exceeding USD 2 billion, addin g that this is primarily due to Bangladesh's significant imports of LNG, along with mineral fuels, fertilizers, plastics and articles thereof, paperboard and inorganic chemicals, machinery and mechanical appliances, etc. HE Ahasanul Islam Titu added, "Qatar stands as a significant economic powerhouse within the GCC countries and occupies a central position in our foreign policy agenda. The two nations have established strong bilateral relations across various critical domains, which have witnessed notable enhancement through recent interactions between the leadership of both countries. There were several visits at the highest levels which instances underscore the deepening engagement between the two nations." HE the Minister of State for Commerce affirmed Bangladesh's efforts to attract investments from Qatar across various sectors, including agriculture, textiles, leather goods, engineering, energy, renewable energy, biotechnology, banking services, among others. In conclusion, HE the Minister stressed, "T o deepen bilateral engagements, there is a pressing need to bolster economic diplomacy through intensified trade and investment efforts, cooperation in energy and defense sectors, and the acceleration of enhanced connectivity through sea routes. Collaboration in port management, blue economy, information technology, cyber-security, and fostering people-to-people contacts are also vital areas for cooperation." Source: Qatar News Agency