H.E. MCI Minister Headed a high-level Delegation to Bangladesh, with the Participation of H.E. the Minister of Economy and Planning, to Discuss Enhancing the Trade Relations between the Two Countries, and to sign 6 agreements and Memorandums of Understanding related to the Private Sector
His Excellency the President of the Republic of Bangladesh, Mr. Mohammed Abdul Hamid, received H.E. the Minister of Commerce and Investment, Dr. Majid bin Abdullah Al Qassabi and the accompanying delegation, which included H.E. the Minister of Economy and Planning, Mr. Mohammed Altwaijri, senior officials, a number of government and major Saudi companies officials. This is during the official visit by the Saudi delegation to the Republic of Bangladesh on Wednesday 06.03.2019 AD.
H.E. Dr. Al Qasabi conveyed the greetings and appreciation of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and His Royal Highness the Crown Prince Mohammed bin Salman, to H.E. the President of Bangladesh, Mr. Mohamed Abdul Hamid.
H.E. Dr. Al-Qasabi and the accompanying delegation also met with the Prime Minister of Bangladesh, Sheikha Hasina Wajid. During the meeting, they discussed means of boosting cooperation between the two countries in the field of trade and investment. Particularly, they reviewed the important investment opportunities in the two countries, and means of boosting and promoting such opportunities with the participation of the private sectors in both sides.
During the meeting, two agreements were signed in the field of Solar Energy and Electric Transformers. Also four memorandums of understanding were signed as well in the fields of packaging and food processing, manufacturing of cables and fertilizers, in addition to technical cooperation and training in the field of Medical Technology.
During the visit, the official consultative meeting was held under the chairmanship of H. E. the Minister of Commerce and Investment, Dr. Majid bin Abdullah Al Qassabi, attended by H.E. the Minister of Economy and Planning and the Saudi official delegation from the Saudi side, and H.E. the Minister of Finance, Mustafa Kamal, the Bangladeshi Ministers and senior officials from the Bangladeshi side. The two sides had agreed to form a joint working team to monitor and study the investment opportunities in both countries, as well as the integration of the economic competitive advantages available in the two countries, besides establishing a Saudi-Bangladesh Business Council.
On the sidelines of this visit, the Saudi-Bangladesh Business Meeting was held, to review the economic development and the investment environment in Bangladesh. Dialogue sessions were held as well between the two sides to discuss the trade and investment opportunities in both countries.
Notably, the Saudi official delegation included representatives from the Ministry of Commerce and investment, the Ministry of Economy and Planning, the Ministry of Labor and Social Development, the Public Investment Fund, the Saudi Fund for Development and a number of senior officials from the major Saudi companies.
It is worth mentioning that the volume of trade exchange between the Kingdom of Saudi Arabia and Bangladesh reached (1,381) billion dollars during 2018, with an increase of 41% , compared to 2017