Momen for Free or Preferential trade agreement with Oman


Foreign Minister Dr AK Abdul Momen addresses a press briefing at the Foreign Service Academy in Dhaka on Tuesday, May 25, 2021 Focus Bangla

Bangladesh and Oman could benefit from more B2B interactions and exchange of visits between business community, foreign minister said

Foreign Minister Dr AK Abdul Momen said Bangladesh and Oman could explore the possibility of signing a bilateral Preferential Trade Agreement (PTA) or Free Trade Agreement (FTA) to maximize available trade synergies. for the mutual benefit of both countries.

“Over the past decade, bilateral trade between Bangladesh and Oman has grown but at a slow pace. We have many more opportunities to expand and diversify the items traded bilaterally,” he said. .

The Foreign Minister on Sunday addressed a webinar on “Bangladesh-Oman Bilateral Trade and Investment: Challenges and Opportunities” to celebrate the “Mujib Year” and the “Golden Jubilee” of independence. Bangladesh, a foreign ministry statement said on Tuesday.

The Undersecretary for Diplomatic Affairs of the Ministry of Foreign Affairs of Oman, Sheikh Khalifa Alharthy, also spoke on the occasion.

Momen said Bangladesh manufactures world-class products such as ready-made garments (RMGs), ceramics, pharmaceuticals, leather products, frozen fish, jute and jute products, processed foods, which are exported to Europe, the United States and other destinations. around the world.

Read also – Bangladesh and Oman keen to expand their economic partnership

“Our businessmen are convinced that they can supply most of the products to Oman at much more competitive prices,” he said and requested the cooperation of Oman to facilitate the access of Bangladeshi products on the Omani market.

He said the current Covid-19 pandemic has taught that all must venture into new areas to explore markets and sources of supply in order to keep economies running.

“We must work together to find ways and means to increase cooperation in different areas such as bilateral trade and investment, energy, renewable energies, technology, food security, health,” said he declared. The Foreign Minister said that the engagement of the private sectors and the business community on both sides is essential for the expansion of bilateral trade and investment.

“We need to facilitate B2B interaction and the exchange of visits between the business community on both sides,” he said.

Read also – Sultan of Oman invited for Mujib Year, golden jubilee of independence celebrations

The foreign minister planned to form a “Bangladesh-Oman Business Forum” to explore and strengthen trade cooperation between the two countries.

Bangladesh and Oman can regularly participate in trade fairs held in their respective capitals to familiarize and popularize the products, he added.

The Foreign Minister urged Omani entrepreneurs to invest in Bangladesh by exploiting the opportunity to take advantage of the country’s favorable investment environment.

Oman may invest in construction projects of hotels, residences and commercial complexes in high-tech parks located across the country, as Dhaka is willing to provide dedicated land and space for Omani ICT investors in Bangladesh. , did he declare.

The foreign minister also urged Oman to invest in the blue economy, the shipbuilding industry, and the energy and power sectors.


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