SG, Bangladesh ink trade and investment pact

They will work on initiatives in areas such as renewable energy.

Singapore and Bangladesh have signed a Memorandum of Cooperation on Trade and Investment (MCTI) to deepen their economic relations.

The MCTI will establish a senior officials bilateral working group that will identify initiatives in areas such as renewable energy, logistics, trade facilitation and standards, to increase trade and investment flows. 

“The MCTI is a significant milestone in economic cooperation between Bangladesh and Singapore, as we mark 50 years of diplomatic ties. It will help Singapore companies diversify their markets by tapping on the strong growth potential of Bangladesh,” Minister-in-Charge of Trade Relations S Iswaran said.

“Bangladesh is a fast-growing market with economic growth averaging 6% to 7% between 2011 and 2021. It is expected to be among the 30 largest economies in the world by 2030,” he added.