“Saudi Arabia remains close to our hearts since the two countries are bound by social, religious and cultural ties from time immemorial,” said Ambassador Mohammed Shahidul Islam.
He added that he has plans to take existing bilateral relations to new heights by implementing new areas of cooperation that would include high level visits between the two countries.
Last month, the Bangladeshi minister of commerce, Mohammad Farouk Khan, visited Riyadh and signed an agreement with the Kingdom on the avoidance of double taxation that would further boost bilateral trade between the countries. “We have also finalized the draft treaty on the promotion and protection of investment which would be signed at a convenient day suitable to both parties,” he said.
The Kingdom’s current exports are valued at $472 million, while its imports from Bangladesh remain at $123.4 million.
Economic and commercial ties between Bangladesh and Saudi Arabia date back more than 1,000 years. Bilateral cooperation between the two countries has been growing steadily in depth and dimension ever since.
“We have more room for Bangladeshi products in the Kingdom that could find an easy market,” Islam said, adding that his country exports pharmaceutical products to more than 70 countries and its ceramics are well known in all parts of the globe. “There remains enormous scope for further expansion of cooperation in these areas between the two countries. Saudi businesspersons and entrepreneurs can take the opportunity of the incentives offered by Bangladesh to invest in a bigger way, especially in agro-based industries, and the tourism, IT, infrastructure, pharmaceuticals, leather and ceramic sectors.”
Since its independence in 1971, Bangladesh has made significant progress in a number of critical areas, especially in agriculture, health care, poverty eradication and empowerment of women.
“A number of studies have suggested that Bangladesh has the potential to become a major economic and financial hub in Asia,” he said.
“The present government of Bangladesh has been working hard to build a digital Bangladesh and achieve middle income country status by 2021. Bangladesh has been working with the international community to fight terrorism and extremism. It is singularly committed to promoting peace and harmony across the globe. It is not only one of the largest contributors to UN peacekeeping operations but also brings its contribution to the evolving peacemaking and peace-building discourse across the world,” he added.
The fact that a good number of Bangladeshis — including professors, doctors and engineers — are working in the Kingdom and contributing to the economies of both countries is a matter of great satisfaction, the envoy said.
“They are also helping promote friendship and understanding between the peoples of Bangladesh and Saudi Arabia. I would like to urge 1.5 million Bangladeshi brothers and sisters living and working in the Kingdom to work hard to further brighten the image of Bangladesh in the Kingdom,” he added.
