Bangladesh, Saudi Arabia poise to boost trade, investment cooperation

Foreign Adviser Md. Touhid Hossain on Tuesday laid emphasis on promoting trade and investment as well as a bridge for friendship between the two brotherly nations-- Bangladesh and Saudi Arabia.

He made the remark while speaking at the inauguration ceremony of the Saudi Arabia-Bangladesh Chamber of Commerce and Industry as the chief guest at a city hotel, reports BSS.

Highlighting the deep-rooted relations between the two countries, the Foreign Adviser said, "Bangladesh and the Kingdom of Saudi Arabia share a long history of brotherly relations. Our bond is rooted in faith, mutual respect and cooperation."

He noted that more than three million Bangladeshis are currently contributing to both economies through their hard work and dedication in the Kingdom.

"By 2030, we hope this number will reach to five million. I am confident that in future we would be able to send more skilled manpower to support Saudi Arabia's Vision 2030 projects while also benefiting countless families in Bangladesh," he added, report BSS.

Touhid Hossain said the people of Bangladesh hold the Kingdom of Saudi Arabia in special regard as the custodian of the two holy mosques.

"Under the visionary leadership of both HM King Salman bin Abdul Aziz Al Saud and HRH Crown Prince and Premier Prince Muhammad bin Salman, Saudi Arabia is poised to a new hub for trade, technology and innovation in the Middle East," he said.

Referring to major global events such as the World Expo 2030 and FIFA World Cup 2034 to be hosted by the Kingdom, he observed that "launching this Chamber is a timely initiative in this context."

The Foreign Adviser underlined the importance of expanding cooperation beyond manpower export. 

"Beyond manpower, we must focus on trade and investment cooperation," he said, adding that Bangladesh welcomes Saudi participation in key sectors such as energy and infrastructure.

"There is huge potential for investment in power plants, oil refineries, ports, airports, and other mega projects that will shape our nation's future," he continued.

He mentioned that Bangladesh has created an investor-friendly environment with exclusive economic zones, including one dedicated solely for Saudi investors. 

"These policies show our government's strong commitment to foreign investment and smoother economic relations," he noted.

The Foreign Adviser also emphasized emerging industries and innovation as new frontiers of cooperation between the two nations.

"We must recognize that industries such as the Halal economy, digital technology and AI, semiconductors and electronics, biotechnology, health and life sciences, and FinTech will be central to achieving the ambitions of Saudi Vision 2030," he said.

"With capital from the Public Investment Fund (PIF) and the talent of Bangladesh's young workforce, we can transform bold ambitions into real achievements," he added.

Reaffirming Bangladesh's readiness to deepen bilateral engagement, he said, "Bangladesh stands ready to work closely with the Kingdom for stronger bilateral ties. Together, we can simplify procedures, improve connectivity, and strengthen cooperation across commerce, aviation, tourism, and beyond."

Touching on a note of solidarity, the Adviser reiterated Bangladesh's principled stance on global issues concerning the Muslim world.
"Bangladesh firmly stands for Free Palestine. It is time for all Muslim countries to unite, to raise one voice, and to ensure peace, dignity, and justice for the Palestinian people," he stated.

Touhid Hossain said the long-standing Bangladesh-Saudi Arabia relationship is both "strategic and forward-looking".
"The message today is simple: our relationship is not only historical, it is also strategic and forward-looking. Together, Bangladesh and Saudi Arabia can achieve prosperity, security, and dignity for our peoples," he said.

"Let this chamber be the lighthouse of cooperation, guiding us toward new horizons of business, friendship, and shared success," the Foreign Adviser added.

BNP Standing Committee Member Abdul Moyeen Khan spoke as special guest at the event. 
Central Nayeb-e- Ameer of Bangladesh Jamaat-e-Islami Mujibur Rahman, Saudi Arabia-Bangladesh Chamber of Commerce and Industry President Ashraful Haque Chowdhury and its vice-president Ahmed Yusuf Walid also present on the  occasion, among others.