Yunus, Miliband to meet in London with energy, climate, investment in focus

Energy, climate change, and investment are expected to dominate discussions as British Secretary of State for Energy Security Ed Miliband is scheduled to meet Chief Adviser Prof Mohammad Yunus today (13 June) at the Dorchester Hotel in London, according to sources in Dhaka, Manchester, and London.

This high-profile meeting comes amid Bangladesh's ongoing political transition and a renewed push for international cooperation, particularly in energy and investment. Dr Yunus is expected to seek increased UK collaboration and soft loans in the energy and power sectors, sources familiar with the agenda said.

Ed Miliband, who assumed office as Secretary of State for Energy Security and Net Zero on 5 July 2024, brings extensive experience to the table. A long-standing MP for Doncaster North since 2005, Miliband previously served as secretary of State for Energy and Climate Change (2008-2010), where he championed the landmark Climate Change Act 2008 – the first law of its kind globally to embed climate targets into national legislation.

With Bangladesh's economy steadily expanding, the country's energy demand – both in households and industries – has sharply risen. The government has recently shifted focus toward renewable and solar energy solutions, aiming to reduce reliance on traditional sources.

Entrepreneurs from Bangladesh's crucial textiles and garments sector have raised concerns over the lack of reliable energy supply, warning of its impact on productivity. Against this backdrop, today's meeting may serve as a platform for securing energy-sector investments and technological cooperation from the UK.

Trade, investment, economic cooperation

Bangladesh is also expected to pitch new investment opportunities to UK entrepreneurs following its successful Investment Summit held in April. Foreign Direct Investment (FDI) into Bangladesh suffered a decline last year, prompting the interim government to ramp up efforts to attract global capital.

Despite global headwinds, the UK remained Bangladesh's top source of net FDI in recent years, with inflows of $432.63 million in 2022, $528.06 million in 2023, and $409.61 million in 2024, according to official data.

The Bangladeshi diaspora in the UK also plays a key role in economic ties, sending home $2.62 billion in remittances in 2024 – up from $2.07 billion in 2022, according to Bangladesh Bank.

Bangladesh's exports to the UK reached $4.48 billion during the 2023-24 fiscal year, and $3.86 billion during July-April of the ongoing 2024-25 fiscal year, data from the Export Promotion Bureau (EPB) shows. The UK remains Bangladesh's third-largest export destination.

As Bangladesh approaches its graduation from Least Developed Country (LDC) status in 2026, bilateral relations with the UK have entered a recalibration phase – with increased emphasis on trade, investment, and strategic cooperation.

By mid-2024, bilateral trade was valued at approximately $5 billion, despite a 21% year-on-year drop attributed to Brexit-related tariff complications and global supply chain disruptions. Over 240 UK companies currently operate in Bangladesh across sectors including textiles, banking, and education, according to HSBC Bangladesh.

Strategic, climate, humanitarian cooperation

Beyond economics, the two nations continue to collaborate on climate change, migration, and humanitarian issues – particularly the ongoing Rohingya crisis. Bangladesh is likely to raise the need for further UK support for the Rohingya humanitarian corridor.

In 2024, the UK pledged an additional £12 million in aid to assist Rohingya refugees and host communities. The support includes clean water, healthcare, shelter, and protection services for vulnerable groups such as women and children, along with capacity-building initiatives for sustainable refugee management.

Bangladesh's political landscape has seen major changes following the crisis in August 2024. The UK has voiced strong support for democratic reforms, rule of law, and institutional development in Bangladesh. In November 2024, Foreign Affairs Adviser Md Touhid Hossain assured UK Minister Catherine West that the interim government harbours no political ambition and is committed solely to fostering a healthy democratic environment.

British officials have reaffirmed support for good governance in Bangladesh, with continued diplomatic backing for the country's long-term development goals. UK Foreign Secretary in late 2024 also highlighted the significance of the Bangladeshi community in the UK, emphasising their role in enhancing bilateral political, cultural, and economic ties.

As today's talks unfold, both sides are expected to reaffirm their commitment to deepening cooperation across energy, trade, climate resilience, and democratic transition – anchoring a relationship that continues to evolve in scope and strategic significance.