Bangladesh, Singapore to sign FTA soon: Commerce minister

[AmiEktaKharapChele]

The government has taken initiatives to sign Free Trade Agreement (FTA) between Bangladesh and Singapore to increase trade and investment, Commerce Minister Tipu Munshi MP said.

"Singapore is an important trading partner of Bangladesh. Bangladesh is a potential area for trade expansion. Bangladesh's relationship with Singapore needs to be developed in the goods, services and investment sectors as well," he said at the Memorandum of Cooperation (MOC) signing ceremony at Commerce Ministry with Singapore Wednesday (16 November).

Singapore Industry Minister S Iswaran and Commerce Minister Tipu Munshi MP signed the MOC aimed at expanding trade, services and investment between the two countries, said a press release.

The Singapore minister said there are opportunities to increase trade, investment and economic cooperation between the two countries.


"Singapore is keen to work with Bangladesh. An international airport is being built in Cox's Bazar, Bangladesh. This airport will be very helpful for the growth of trade and tourism. Singapore will work with Bangladesh in the ICT sector. It can increase publicity in the international arena on various issues including tourism of Bangladesh. Bangladesh has huge potential."

In response to questions from journalists, Commerce Minister Tipu Munshi said that Bangladesh's skilled manpower is going to Singapore and working there with a good reputation.

Commerce Ministry Senior Secretary Tapan Kanti Ghosh, Singapore's High Commissioner in Dhaka, members of the delegation led by the Singapore Trade Minister and senior officials of Commerce Ministry were present.



Source




Note: As of 2020, Bangladeshi exports to Singapore amount to around $161 million.

 

[mb444]

There is also between 150-200k BD workers in singapore sending back sizable ($350m per anum) remittances back.

Add that and we are looking at $500m of earning from the tiny state per year.

Sign the FTA quickly and grow this opportunity. Our export to singapore is growing at only 4.4% annually and FTA should assist.

We are running a big trade deficit with them. We import $2.29b worth of goods from them.

Some stats-

Singapore (SGP) and Bangladesh (BGD) Trade | The Observatory of Economic Complexity

Find the latest trade data and tariffs between Singapore and Bangladesh.

oec.world

 

[Bilal9]

There is also between 150-200k BD workers in singapore sending back sizable ($350m per anum) remittances back.

Add that and we are looking at $500m of earning from the tiny state per year.

Sign the FTA quickly and grow this opportunity. Our export to singapore is growing at only 4.4% annually and FTA should assist.

We are running a big trade deficit with them. We import $2.29b worth of goods from them.

Some stats-

Singapore (SGP) and Bangladesh (BGD) Trade | The Observatory of Economic Complexity

Find the latest trade data and tariffs between Singapore and Bangladesh.

oec.world

As a country with limited space and other constraints Singapore also faced, Singapore is a great model to emulate.

Bangladesh will never be similar to Singapore - especially in how they instill education and discipline in their young.

But we can cooperate with them on adopting Western Modernity moderated with Singaporean practicality.

 

[Destranator]

As a country with limited space and other constraints Singapore also faced, Singapore is a great model to emulate.

Bangladesh will never be similar to Singapore - especially in how they instill education and discipline in their young.

But we can cooperate with them on adopting Western Modernity moderated with Singaporean practicality.

We can emulate the Singapore model of urbanisation around our SEZs - high desnsity, quality housing with fantastic multimodal public transport networks.

 

[Tom-tom]

There is also between 150-200k BD workers in singapore sending back sizable ($350m per anum) remittances back.

Add that and we are looking at $500m of earning from the tiny state per year.

Sign the FTA quickly and grow this opportunity. Our export to singapore is growing at only 4.4% annually and FTA should assist.

We are running a big trade deficit with them. We import $2.29b worth of goods from them.

Some stats-

Singapore (SGP) and Bangladesh (BGD) Trade | The Observatory of Economic Complexity

Find the latest trade data and tariffs between Singapore and Bangladesh.

oec.world

I am guessing a good portion of that is comprised of smaller cargo ship runs from Singapore to bd, as bd can directly accommodate very large ships.

 

[Wergeland]

View attachment 897005

The government has taken initiatives to sign Free Trade Agreement (FTA) between Bangladesh and Singapore to increase trade and investment, Commerce Minister Tipu Munshi MP said.

"Singapore is an important trading partner of Bangladesh. Bangladesh is a potential area for trade expansion. Bangladesh's relationship with Singapore needs to be developed in the goods, services and investment sectors as well," he said at the Memorandum of Cooperation (MOC) signing ceremony at Commerce Ministry with Singapore Wednesday (16 November).

Singapore Industry Minister S Iswaran and Commerce Minister Tipu Munshi MP signed the MOC aimed at expanding trade, services and investment between the two countries, said a press release.

The Singapore minister said there are opportunities to increase trade, investment and economic cooperation between the two countries.


"Singapore is keen to work with Bangladesh. An international airport is being built in Cox's Bazar, Bangladesh. This airport will be very helpful for the growth of trade and tourism. Singapore will work with Bangladesh in the ICT sector. It can increase publicity in the international arena on various issues including tourism of Bangladesh. Bangladesh has huge potential."

In response to questions from journalists, Commerce Minister Tipu Munshi said that Bangladesh's skilled manpower is going to Singapore and working there with a good reputation.

Commerce Ministry Senior Secretary Tapan Kanti Ghosh, Singapore's High Commissioner in Dhaka, members of the delegation led by the Singapore Trade Minister and senior officials of Commerce Ministry were present.



Source




Note: As of 2020, Bangladeshi exports to Singapore amount to around $161 million.

Great news.

We can emulate the Singapore model of urbanisation around our SEZs - high desnsity, quality housing with fantastic multimodal public transport networks.

BD is land with huge potential. We just need some brave Statesmen who can implement long term planned development.

 

[Bilal9]

We can emulate the Singapore model of urbanisation around our SEZs - high desnsity, quality housing with fantastic multimodal public transport networks.

Yes you are talking about HDB flats I guess. These are recently built ones. 40 to 50 story height. Bangladesh will be limited to 25 stories max.

Bangladesh govt. projects are already going in that fashion, albeit in smaller scale, a la HDB flats built in the 1980's. The new flats built in Uttara are like this below. So are the residential flats built in the Rooppur project. EPZ areas will have these flats too, at some point.