Commerce Minister Khandakar Abdul Muktadir on Tuesday called on Australia to scale up investment in Bangladesh's solar power sector, saying the government is actively working to create a business-friendly environment for foreign investors in renewable energy.

The minister made the call during a meeting with Australian High Commissioner to Bangladesh Susan Ryle at the Commerce Ministry in Dhaka. The two sides held wide-ranging discussions on strengthening bilateral trade, investment and economic cooperation.

“The government is committed to building an investment-friendly environment and is particularly encouraging foreign investment in the renewable energy sector,” Muktadir said.

He said revitalising existing industrial enterprises, establishing new industries and generating employment are among the government's top priorities. “One of our key goals is to activate industrial assets worth approximately $7 billion and attract private investment to make these sectors productive.”

The minister specifically urged Australian companies to invest in Bangladesh's solar power generation sector.

High Commissioner Ryle said bilateral trade between the two countries currently stands at around $5.14 billion and is growing steadily.

She noted that the energy sector, particularly renewable energy, holds significant investment potential in Bangladesh, adding that a high-level Australian delegation is already reviewing opportunities for cooperation in green energy, innovation and technology.

She also said that approximately 28,000 Bangladeshi students are currently studying in Australia, making it one of the most important destinations for Bangladeshi students abroad.

Both sides expressed interest in expanding cooperation in trade, education and scholarships, capacity building for Commerce Ministry officials, trade negotiations and infrastructure development.

Commerce Ministry Secretary (Current Charge) Md. Abdur Rahim Khan was also present at the meeting.