Bangladesh ready to set up Special Economic Zone exclusively for Saudi investors with necessary facilities
The Prime Minister’s private sector industry and investment advisor, Salman F Rahman, on Saturday called on Saudi Arabia to grant duty-free access to some 137 Bangladeshi products in the Saudi market.
Salman, who is now in Saudi Arabia, made the announcement during a virtual meeting with Saudi Minister of Trade and Investment Majid bin Abdullah Al Qasabi.
The prime minister’s advisor mentioned that Saudi Arabia was importing RMG, leather goods, plastic goods, frozen fish and pharmaceuticals from Bangladesh, adding that Saudi Arabia could take the necessary steps to import halal meat from Bangladesh and thereby minimize the trade imbalance between the two countries, a press release said.
The current bilateral trade volume between Bangladesh and Saudi Arabia is $ 1.3 billion.
Addressing the Prime Minister’s greetings to Saudi Badsha and the Crown Prince, Salman Rahman focused on more Saudi investments in Bangladesh to materialize the 2041 target.
The prime minister’s advisor informed the Saudi trade minister that Bangladesh is ready to set up a special economic zone exclusively for Saudi investors with the necessary facilities.
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Following a request from the adviser to invest in various Bangladesh megaprojects under the Saudi Public Investment Fund, the Saudi minister assured him that they would study the matter. In this context, Salman sought Saudi investment to establish a rail connection between Dhaka and Payra Port as well as to transform Cox’s Bazar into an international tourism hub.
Referring to the anti-cover-up law intended to allow expatriates to do business legally in Saudi Arabia, Salman Rahman called on the Saudi minister to support Bangladeshi businessmen in this regard.
Following a request from the adviser, the Saudi minister assured that a Saudi delegation would visit Bangladesh at their convenience.
Saudi Minister Majid said they attached the utmost importance to the far-sighted leadership and bilateral relations of the two countries.
He also assured Bangladesh to take the necessary steps to sign a memorandum of understanding on public-private partnership (PPP) between the two countries, which would open the door for direct investment by Saudi companies in various projects in Bangladesh.
Bangladesh Ambassador to Saudi Arabia Dr Mohammad Javed Patwari Executive Chairman of Bangladesh Investment Development Authority (BIDA) Mr. Sirazul Islam Executive Chairman of Bangladesh Economic Zones Authority (BEZA) Sheikh Yusuf Harun and Bangladesh PPP Authority Director General Sultana Afroz, among others, attended the virtual meeting. .
Earlier, a high-level Bangladeshi delegation, led by Prime Minister’s adviser Salman F Rahman, had arrived in Saudi Arabia for a five-day visit. During the visit, the adviser met with several Saudi ministers to boost bilateral trade, attract more investment and attend various high-level meetings.