Finance and Commerce Adviser Dr. Salehuddin Ahmed has stated that Bangladesh will prioritise a smooth transition from a least developed country (LDC) to a developing country. He emphasised that the transition will not happen suddenly, but rather at an appropriate time, for the benefit of the country's interests and its people.
The adviser made the remarks in response to media queries at the Ministry of Commerce’s conference room after an event on the initiation of discussions for a Bangladesh-Singapore Free Trade Agreement (FTA).
He mentioned that the government will not implement the process of upgrading from LDC status abruptly. A careful decision will be made regarding the timing of the transition.
Dr. Salehuddin also expressed that the government aims to sign free trade agreements with as many countries as possible, with a particular focus on Japan, Indonesia, and India. Additionally, efforts will be made to engage with ASEAN countries and Malaysia.
He highlighted that businesses are always concerned about trade and require various facilities and opportunities, which the government is taking into consideration.
He further noted that Singapore represents a promising area for expanding trade with Bangladesh. To boost trade and investment between the two nations, efforts have been initiated to sign a Free Trade Agreement.
Singapore's High Commissioner to Bangladesh, Derek Loh, emphasized in his speech the strategic importance of Bangladesh, particularly Chattogram, for Singapore due to its geographical location. He mentioned that Singapore’s PSA shipping company is investing in Chattogram's Bay Terminal, which will transform the international port and enhance trade between the two countries.
The event was attended by Interim Government’s Chief Adviser on International Affairs, Special Envoy Lutfur Siddiqui, Bangladesh Investment Development Authority (BIDA) Chairman Chowdhury Ashik Mahmud Bin Harun, and Secretary of the Ministry of Commerce Mohammad Selim Uddin.
Earlier, Singapore’s High Commissioner Derek Loh paid a courtesy call on Trade Adviser Dr. Salehuddin Ahmed at his office in the Secretariat.