Foreign Minister Dr AK Abdul Momen has sought stronger efforts to promote economic diplomacy, noting that attracting foreign direct investment has always been a cornerstone of their economic diplomacy.

“As we have lost two years due to the pandemic, time has come to further bolster our efforts,” he said, adding that their endeavour of effectively pursuing economic diplomacy would also immensely contribute to the timely attainment of the sustainable development goals (SDGs).

Momen was speaking as the chief guest at the inaugural session of the “First Economic Diplomacy Week” that began at Foreign Service Academy in city on Thursday.

The Ministry of Foreign Affairs (MoFA), in collaboration with the relevant ministries and divisions, is hosting the programme as the country seeks prosperity through economic diplomacy.

Foreign Secretary Masud Bin Momen, Secretary (Maritime Affairs Unit) Rear Admiral (Retd) Md. Khurshed Alam and reactor at Foreign Service Academy Ambassador Asad Alam Siam, among others, spoke at the session.

Momen said the economic diplomacy package has five components and these are more foreign investment, more trade and export diversity, gainful employment of human resources both at home and abroad, transfer of technology, and quality services to Bangladeshi Diaspora and to others.

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He said the ministry of commerce, teaming up with Bangladesh Missions abroad, is in the process of finalizing preferential and free trade deals with a number of countries.

“We have already conducted feasibility studies on 23 countries for bilateral and regional trade agreements, free trade agreement and comprehensive economic agreement. We are opening up new markets,” the foreign minister said.

Foreign Minister Momen said Bangladesh’s stable growth and political stability has raised tens of millions to ‘middle class and affluence’ status.

Apart from being a booming domestic market, he said, Bangladesh is also a strategic hub linking India, China and the ASEAN countries.

Momen hoped that Bangladesh will be a developed nation by 2041 and Father of the Nation Bangabandhu Sheikh Mujibur Rahman’s dream of building a ‘Golden Bengal’ will be realized.

“I am confident that the vision of Prime Minister Sheikh Hasina emphasizing on economic diplomacy and its implementation by all concerned ministries and authorities of the government will help realize this dream,” he said.

A country, one-seventh of whose population had to seek refuge in neighbouring India during 1971; Momen said, Bangladesh is now globally praised due to its generosity and capacity in temporarily sheltering over a million Rohingyas on its land.

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A country that was known to be “controlled by nature and not by men” due to recurrent natural calamities, Bangladesh has now become a global example of disaster preparedness, he said.

Renowned scholars, high officials, business leaders and members of the academia are also joining the two-day programme (Thursday and Saturday).

The issues related to blue economy, climate action, sustainable development goals, agricultural innovations, contact farming, food security, connectivity, human resources and skills development; trade liberalization are being discussed to identify the challenges and opportunities in these areas.