Bangladesh and Singapore have reaffirmed their intention to finalize a Free Trade Agreement (FTA) by 2026 as part of efforts to deepen economic ties and expand cooperation across a range of sectors.
According to a statement from Bangladesh’s Ministry of Foreign Affairs, the commitment was made during the Fourth Foreign Office Consultations (FOC) between the two countries, which were held in Singapore on Monday.
The consultations, led by Bangladesh’s Foreign Secretary, Md Jashim Uddin and Singapore’s Permanent Secretary for Foreign Affairs, Luke Goh, covered the full spectrum of bilateral relations, including trade, investment, energy, health, digital economy, and regional issues.
Negotiations on the FTA were a key part of the discussion, with both sides agreeing to accelerate progress. They also committed to finalizing other key agreements, including those on customs cooperation, mutual legal assistance in criminal matters, double taxation avoidance, and tourism cooperation.
Bangladesh highlighted its strength as a producer of competitively priced goods, including ready-made garments, pharmaceuticals, and leather products, and encouraged Singapore to increase imports to balance trade. Singapore, already a major investor in Bangladesh, was invited to expand its investment in sectors such as energy and economic zones.
Both sides explored collaboration in agriculture, tourism infrastructure, and waste management. Bangladesh expressed particular interest in Singapore’s support for a Waste-to-Energy plant project.
Acknowledging the contributions of Bangladeshi workers in Singapore, both sides discussed enhancing cooperation in human resource development.
Bangladesh also reiterated its desire to join ASEAN trade frameworks, including the ASEAN Free Trade Agreement and RCEP.
