In a bid to strengthen ties and foster economic cooperation, Bangladesh, represented by Prime Minister’s Private Industry and Investment Adviser Salman F Rahman, has recently embarked on exploratory discussions with the Kingdom of Saudi Arabia across multiple sectors.
He unveiled plans during a press conference, disclosing Saudi Arabia’s keen interest in establishing a special economic zone in Payra. Additionally, talks have progressed towards the feasibility of jointly producing urea fertiliser, with Salman emphasising discussions revolving around the supply of gas and ammonia for the proposed project, read a press release.
The announcement follows Salman’s representation of Bangladesh’s defence minister, Prime Minister Sheikh Hasina, at the second meeting of the Islamic Military Counter-Terrorism Coalition in Riyadh.
At the gathering, defence ministers from member countries strategised on combating terrorism, with Salman underscoring the collective condemnation of such acts, emphasising their detrimental impact on Islam’s image.
Beyond counter-terrorism efforts, discussions also addressed resolving issues in Palestine and Gaza. Salman reiterated Bangladesh’s proposal for a joint venture with Saudi Arabia in urea fertilizer production, noting Saudi Arabia’s acceptance and the initiation of feasibility studies.
Moreover, the dialogue extended to investment opportunities in Payra Port and the development of a special economic zone in Payra. Saudi Arabia expressed interest in ventures in food processing, indicating a broadening scope for collaboration.
The adviser acknowledged challenges such as the dollar crisis affecting gas prices but assured that Bangladesh is actively addressing infrastructure issues to maintain competitive gas prices, even with necessary subsidies from the government.
The collaborative efforts between Bangladesh and Saudi Arabia signal a promising path towards bolstering economic ties and fostering mutual growth in various sectors.
The Business Post
