The Kingdom of Saudi Arabia (KSA) is keen to strengthen trade ties with Bangladesh in several areas including food, energy, logistics, and manufacturing.

Saudi entrepreneurs expressed their interest regarding this during a meeting at the Saudi Bangladesh Business Council hosted by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in Dhaka on Wednesday.

Investment Minister of Saudi Arabia Engr. Khalid A. Al-Falih joined the meeting as the chief guest.

The Saudi Investment Minister said Bangladesh is one of the closest friends of Saudi Arabia and both countries enjoy an excellent bilateral friendship.

The Saudi Minister said Bangladesh and Saudi Arabia have trade relations in a few areas. “But now is the time we look for ways on how we can strengthen trade for the mutual benefit of both of the countries. Saudi Arabia’s support to Bangladesh will continue in the future”, he added.

Prime Minister’s Private Industry and Investment Advisor Salman F. Rahman urged Saudi Arabian businessmen to invest in Bangladesh.

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Pointing out the trade potential between Saudi Arabia and Bangladesh he said that the Bangladesh government will provide full support to the businessmen of both countries to utilise these potentials.

The FBCCI President Mahbubul Alam said Bangladesh enjoys excellent bilateral relations with Saudi Arabia. “The ties between Bangladesh and Saudi Arabia are mostly based on common Islamic traditions, culture and mutual respect,” he added.

Inviting the Saudi investors to invest in Special Economic Zones, Mahbubul Alam said Bangladesh government has allocated 300 acres of land in the Bangabandhu Sheikh Mujib Shilpa Nagar’s to establish the Saudi Arabia SEZ.

Deputy Minister for Investors Outreach of KSA Badr I. AlBadr said Saudi Arabia is looking forward to boosting bilateral trade with Bangladesh.

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“We want to diversify our investment in Bangladesh. We’re looking forward to starting with a few selected sectors, but in the future Saudi Arabia is going to collaborate in many areas with Bangladesh. KSA and Bangladesh will work together to resolve challenges in the future,” he said.

Among others, Chairman of the Saudi Bangladesh Business Council Ayad Al Amri, Ambassador of KSA in Bangladesh Essa bin Yousef Al Duhailan, FBCCI Vice President Khairul Huda Chopol, Dr. Joshoda Jibon Deb Nath, Md. Munir Hossain, Directors, and Business Dignitaries from Bangladesh and Saudi Arabia were present at the business council meeting.

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