The Bangladesh–Singapore Free Trade Agreement (FTA) is close to finalization, said Singapore’s Non-Resident High Commissioner Derek Loh Yu Se during a meeting at BGMEA’s Uttara office on Wednesday.
In this backdrop, Derek Loh sought insights from BGMEA President Mahmud Hasan Khan on Bangladesh’s business climate during the meeting.
BGMEA Director Rumana Rashid was also present at the meeting alongside senior officials from the Singapore High Commission, and Singapore government.
The meeting covered bilateral trade, investment, logistics, port management, labour issues, US tariffs, and the garment sector’s current challenges. A key focus was Singapore’s possible cooperation in managing Bangladesh’s Bay Terminal, leveraging its global expertise in container handling.
Derek Loh expressed the Singapore government’s readiness for extending all necessary support.
Mahmud Hasan Khan highlighted the Singapore side’s emphasis on full profit repatriation as an essential factor for attracting investors. He highlighted other policy-level improvements achieved over the past year for attracting foreign investors.
The BGMEA president highlighted post-uprising improvements in cost reduction, efficiency, and transparency. He invited Singaporean businesses to invest in promising sectors in Bangladesh, including international-standard hospitals. He also requested support for export diversification, especially in agricultural products and fruits.
On apparel exports, the High Commissioner suggested focusing on high-value, premium clothing for the Singapore market. He also invited the BGMEA President to visit Singapore with a delegation to observe its port operations firsthand.
