Dhaka:Bangladesh Bank Governor Md Mostaqur Rahman has emphasized the importance of exploring new areas for trade and economic cooperation between Bangladesh and Singapore to create a more balanced and diversified bilateral economic relationship.
According to Bangladesh Sangbad Sangstha, Governor Rahman made these remarks during a courtesy visit from Singapore's newly appointed Charge d'Affaires, Philip Ong, at the Bangladesh Bank headquarters. The discussions focused on expanding bilateral trade, enhancing economic cooperation, and exploring the potential for a free trade agreement.
During the meeting, both parties agreed on the need to identify new avenues for cooperation and to further diversify trade between the two nations. The discussions also touched on Singapore's Trade Trust platform, which could play a significant role in digitally transforming Bangladesh's foreign trade.
The Singaporean representatives expressed appreciation for the interest shown by Bangladeshi banks in the Trade Trust initiative. Several local banks have already engaged with the initiative following a directive from Bangladesh Bank.
To further advance the digital transformation of foreign trade, the meeting concluded with a decision to form a working committee. This committee will include representatives from Bangladesh Bank and relevant authorities in Singapore.
Participants from Singapore included Wong Choo Sin of the Ministry of Trade and Industry and Benjamin Chue of Enterprise Singapore. Representing Bangladesh Bank were Deputy Governors Dr. Md Habibur Rahman and Md Sarwar Hossain, Executive Director Md Harun-or-Rashid, and Director Abu Saleh Mohammad Shahab Uddin.