On Tuesday , 13th March Bangladesh and Singapore signed four Memorandums of Understanding (MoUs) at the inauguration of Bangladesh-Singapore Business Forum.
One of the four MoU signed was are deal between the Singapore Manufacturing Federation (SMF) and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) to open opportunities for Singapore companies venturing into Bangladesh.
Another MoU was set with aims to enhance and sustain the start-up business modules in Bangladesh, along with enabling collaboration on development and delivering capacity building programmes for public service officers. This will support the Digital Bangladesh Vision set by the ruling government
One MoU was built on an existing deal between the SMF and Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) in 1997.
The fourth MoU was set to allow International Enterprise (IE) Singapore and the Bangladesh Investment Development Authority to work together and to facilitate the entry of Singapore companies into the Bangladesh market.
Earlier on 12th March Bangladesh and Singapore signed two other MoUs to facilitate ease and extend cooperation in air services. The deal was signed in the presence of the prime ministers of both countries, Prime Minister Sheikh Hasina and Prime Minister Lee Hsien Loong at the Itsana, office of the Singapore President.
One MoUs signed was a pact signed by International Enterprise Singapore with Bangladesh’s Public Private Partnership Authority to help Singapore companies associate directly in public-private partnership projects in Bangladesh. The other MoU signed on the day was a pact to facilitate air services between the two countries. This pact will allow the airlines of Bangladesh and Singapore operate more passenger and cargo services.
These deals were finalised on Prime Minister Sheikh Hasina’s four-day to Singapore invited by Prime Minister Lee Hsien Loong. The agreements were made to boost relations and increase cooperation between the two countries. The agreements would also help build a strong economic relationship between the countries.
Prime Minister Lee Hsien Loong commented on Bangladesh’s economic growth saying it is, “strong and resilient despite a challenging external environment” which may be fruitful for Singapore companies looking to venture overseas. “These comparative advantages may be harnessed to our mutual benefit,” said Prime Minister Sheikh Hasina.
> Saraf Anika Chowdhury
Bangladesh and Singapore Sign Multiple MoUs to Boost Relation and Cooperation
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