Bangladesh seeks duty-free access for 137 products to Saudi Arabia

Salman F Rahman, private industry and investment advisor to prime minister, has requested Saudi Arabia to give duty-free export facility for 137 Bangladeshi products to reduce trade deficit between the two countries. 

Saudi Arabia can import halal meat from Bangladesh along with the products it currently imports from here, said Salman F Rahman during a virtual meeting with Dr Majid Bin Abdullah Al Qasabi, commerce minister of Saudi Arabia, on Saturday.

Currently Saudi Arabia imports readymade garments, leather goods, plastic products, frozen fish, medicine from Bangladesh. 

At present, the trade between the two countries amounts to $1.3 billion, said prime minister's advisor.

At the meeting, Salman F Rahman also called for accelerating the trade activities between the two countries by assessing the memorandum of understanding signed in 2018, when the Saudi commerce minister and finance minister visited Bangladesh. 

He proposed forming a working committee for taking effective measures regarding the memorandum of understanding. 

The prime minister's advisor also said If Saudi Arabia wants, Bangladesh is ready to provide special facilities for the Saudi investors by setting up economic zones for them. 

When Salman F Rahman urged Al Qasabi to take steps regarding the proposed agreement on private public partnership between the two countries, the Saudi commerce minister assured him of taking necessary measures soon.

The Saudi commerce minister also gave a positive response when Salman F Rahman requested for investment in Bangladesh under the Saudi Public Investment Fund. Salman F Rahman invited Saudi Arabia to invest in constructing a railway between Dhaka and the Payra port and developing Cox's Bazar as a tourist site of international standard. 

Referring to the Anti-Concealment Law aiming to provide a legal system for the emigrants' business in Saudi Arabia, Salman F Rahman urged the Saudi commerce minister to assist the emigrant Bangladeshi businessmen who are doing business in Saudi Arabia. Al Qasabi assured him of giving all sorts assistance in this regard.

Dr Mohammad Javed Patwary, Bangladesh ambassador to Saudi Arabia, was present at the virtual meeting organised at the Embassy of Bangladesh, Riyadh, said a press release. 

Md Sirazul Islam, executive chairman of Bangladesh Investment Development Authority, Shaikh Yusuf Harun, executive chairman of Bangladesh Economic Zones Authority, and Sultana Afroza, chief executive officer of Public Private Partnership Authority Bangladesh, among others, were present at the meeting.

Salman F Rahman along with senior government officials and a team of businesspersons arrived in Saudi Arabia on Saturday.