RIYADH: Saudi Arabia has agreed to increase import of readymade garments (RMG), medicine and some other quality products from Bangladesh to meet its increasing domestic needs.
Saudi finance minister Dr. Ibrahim bin Abdulaziz Al-Assaf conveyed the decision to finance minister AMA Muhith at a meeting, held in Riyadh Tuesday, according to a press release, received here today (Thursday) from Bangladesh Embassy in Riyadh, Saudi Arabia.
During the meeting, the two ministers agreed to explore investment and trade opportunities through sharing experiences, funding and arranging training.
It was also discussed in the meeting that a Bangladeshi commercial bank could open a branch in Saudi Arabia, which would help promote business transactions between the two countries.
Apprising the recent initiatives and measures for social and economic development in Bangladesh, Muhith sought more funding support from the Saudi government in various projects including a project for building a fertilizer factory. He also urged his Saudi counterpart to recruit quality manpower from Bangladesh.
Agreeing to consider these proposals, the Saudi finance minister underlined the need for regular and increased interaction between businessmen of the two countries to enhance better understanding in promoting trade and investment.
Muhith is now visiting Saudi Arabia at the invitation of his Saudi counterpart minister for finance Dr Al-Assaf. The minister is leading a 6-member delegation comprising senior officials from economic relations
division and finance division and a representative from the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
