Foreign Affairs Adviser Md Touhid Hossain on Sunday said Bangladesh is eagerly anticipating the upcoming visit of Saudi Crown Prince Mohammed bin Salman to Bangladesh, an event that promises to further enhance the momentum of bilateral relations between the two countries.

"We also look forward to celebrating 50 years of our diplomatic ties, marked by cultural exchanges, business delegations, and high-level visits that will undoubtedly solidify our enduring partnership," he said while speaking at a reception marking the Saudi National Day at the country's embassy in Dhaka.

Hossain said they deeply appreciate the remarkable contributions of Saudi Ambassador  Essa Yousef Essa Al Duhailan in strengthening the bilateral ties and warmly welcomed his successor, assuring him of full cooperation in advancing the partnership.

The Adviser extended his heartfelt wishes for continued peace, prosperity, and progress for the Kingdom of Saudi Arabia under the wise leadership of King Salman and Crown Prince Mohammed bin Salman. "May our friendship continue to flourish."

Saudi Arabia has been a steadfast partner in Bangladesh’s development journey.

Saudi Fund for Development (SFD) has partnered Bangladesh in implementing several infrastructure projects over the years.

"We express our deep gratitude for the Kingdom for employing around 3 million of our workers, both semi-skilled and unskilled, who are contributing to both of our economies," said Hossain.

The proposal for establishing a Joint Task Force on labor issues reflects the shared commitment to safeguarding the rights and welfare of workers, a testament to common values of social justice, he said.

The two way trade has exceeded $2 billion annually in recent years.

Bangladesh sources strategic goods like petroleum products and minerals, fertilizer etc. from Saudi Arabia to keep the economy moving.  

Recently, Bangladesh is drawing increasing attention from Saudi businessmen and investors who are showing keen interest to invest here, said the Adviser.

The recent investment initiative by the Red Sea Gateway Terminal in the operation of Potenga Container Terminal is a case in point to showcase Kingdom's commitment to developing Bangladesh’s logistical capacities in the port sector, he said.

Some notable companies, such as ACWA Power and SABIC, are exploring opportunities in the renewable energy, logistics and infrastructure sectors.

Simultaneously, Bangladeshi businesses are eager to engage in sectors like pharmaceuticals and fertilizers in Saudi Arabia.

"As Bangladesh rapidly develops, we invite our Saudi partners to explore the immense potential within our Special Economic Zones, offering significant opportunities in infrastructure, power, tourism, and hospitality," said the Adviser.

The two nations have also identified new areas for collaboration, particularly in areas of labor migration, investment, infrastructure development, education, as well as agriculture and environment.

"We remain committed to forging a strategic partnership as we approach the Golden Jubilee of our diplomatic ties next year," Hossain said.

Looking ahead, the Adviser said, they are going to elevate the Joint Commission to the ministerial level, reflecting the deepening significance of the relationship.

"This step will undoubtedly help unlock new opportunities and strengthen our cooperation in addressing global challenges and supporting each other in international forums," he said.

Saudi Arabia, under the dynamic leadership of Crown Prince and Prime Minister Mohammed bin Salman, is progressing toward achieving the ambitious Vision 2030—a vision that seeks to diversify the Saudi economy, promote sustainability, and achieve transformative growth.

"Bangladesh is willing to be a partner to contribute to realizing this vision by sharing our experience and expertise in aligning with these aspirations for sustainable, inclusive development," said the Foreign Adviser.