ZCZC
BSS-09
BANGLADESH-KSA-JC
Bangladesh-KSA 13th Joint Commission ends to strengthen bilateral
relations
DHAKA, Feb 13, 2020 (BSS) – The two-day 13th Joint Commission (JC) between
Bangladesh and the Kingdom of Saudi Arabia (KSA) ended today with a strong
commitment to further strengthen the existing bilateral relations alongside
boosting cooperation in a wide range of areas including manpower, power,
energy and in telecommunications.
The JC also discussed about the high investment potentials from large
Saudi companies as Bangladesh assured them to provide all necessary support
in this regard.
Economic Relations Division (ERD) Secretary Monowar Ahmed led the
Bangladesh delegation while Mahir Abdul Rahman Gassim, deputy minister for
International Affairs of the Ministry of Labor and Social development of
Saudi Arabia led its delegation.
Organised by the ERD, high-level officials from the respective ministries,
divisions and agencies of both the countries participated in different
sessions of the JC held in a cordial atmosphere upholding the friendship and
mutual long lasting relationship at the core.
After the conclusion of the JC, the ERD Secretary and the Saudi Deputy
Minister signed the agreement at the NEC Conference Room today and later
spoke at the concluding ceremony.
Monowar said the JC has taken the bilateral relationship into a new height
adding, “This is the beginning of our new era of friendship and cooperation.”
He informed that the Saudi side has agreed to invest in a number of
projects and a couple of MoUs would be finalized soon in this regard.
Saudi Deputy Minister Gassim said his country is looking forward to take
this bilateral relationship into a much higher stage.
During the meeting, both the delegations exchanged information on latest
social and economic progress of the two countries, reviewed the outcome of
cooperation between Bangladesh and the Saudi Arabia.
According to a statement of ERD, the Saudi side expressed their
willingness to learn about Bangladeshi experiences in microfinance,
regulations, circulars and the knowledge in this regard.
Bangladesh Bank (BB) also agreed to share their experience and knowledge in
this regard. Bangladesh side requested Saudi side to meet MRA and PKSF
directly for specific issues regarding microfinance.
The Bangladesh Investment Development Authority (BIDA) agreed to provide
the details information on new investment opportunities and possible future
projects to the Saudi side.
Saudi Investor companies (ACWA Power, ARAMCO, Al-Bawany, Al Jomiah,
Engineering Dimension, Red Sea Gate Way Terminal, Honey and Health) under
council of Saudi Chambers discussed different issues related to Saudi
Investment in Bangladesh.
Both sides discussed about the allotted land of 1,000 acres by BEZA on a
lease for Al-Bawani. Al-Bawani group agreed to conduct a feasibility study to
assess the suitability of the potential site.
Saudi-side agreed to take up with the Saudi companies to expedite the
implementation of the project with GEMCO (a government enterprise under BSEC)
while Bangladesh-side assured all support to the Saudi investor including
extending maximum facilities available to the foreign investor under the
Foreign Investment Policy of the country.
A proposal of about one billion USD for the Telecommunications
infrastructure development (4G and 5G) by Teletalk Bangladesh Limited has
been discussed with Al-Jomiah Group and both sides agreed to work further on
the opportunities on priority basis.
Engineering Dimension of the KSA and BFIDC of the country agreed under
strategic partnership for manufacturing and marketing of 100 percent export-
oriented furniture plant and wood processing plant in Bangladesh.
MORE/ASG/GM/SSS/1416 hrs