UAE and Bangladesh see bright future ahead on trade and investments

UAE and Bangladesh see bright future ahead on trade and investments

Both nations have discussed ways to enhance cooperation in key sectors as well as ways to promote the role of the private sector

Published: Fri 11 Mar 2022, 6:39 PM Last updated: Fri 11 Mar 2022, 7:07 PM

The UAE and Bangladesh are looking forward to stronger trade ties that will see both sides scale up investments across several sectors that are key to their expanding economies, experts said at the third Bangladesh Economic Forum in Dubai.

In his keynote speech, Bangladesh Foreign Minister Dr AK Abdul Momen, urged UAE investors to invest in Bangladesh, saying. “Our bilateral relations with the UAE are currently at the highest level. Honourable Prime Minister Sheikh Hasina is currently leading a large delegation to the UAE to further deepen our ties with the UAE. The business community should take advantage of the strong UAE-Bangladesh relations and come closer to tap the untapped economic potential and create a win-win situation.”

According to the most recent reports, the Bangladeshi economy grew at 6.94 per cent in the 2020-21 fiscal year, with improvement in both services and manufacturing sectors despite the Covid-19 pandemic. Data released by the Bangladesh Bureau of Statistics, noted that the country's economic growth exceeded the government's provisional