Hon’ble Finance Adviser, Chief Guest, Hon’ble Foreign Adviser, Special Guest, His Excellency Ambassador Al Duhailan of the Kingdom of Saudi Arabia to Bangladesh, Dignitaries, dear Colleagues, DCAB members, Ladies and Gentlemen,
Assalamu Alaikum and good morning.
Today, we convene for the momentous occasion of launching the report titled “Enhancing Saudi-Bangladesh Economic Engagement: Trends, Key Challenges & Long-term Growth Prospects.”
In an increasingly interconnected world, the symbiotic relationships among nations are becoming more pronounced. The ties between Bangladesh and Saudi Arabia, however, transcend beyond contemporary dynamics and trace back over a millennium, rooted in shared history and enduring connections.
From the very inception of Bangladesh, Saudi Arabia has been a pivotal development partner. Our relationship extends beyond economic collaboration, anchored in shared cultural values, mutual respect, and deep people-to-people connections. It is a bond of fraternity and mutual support that has stood the test of time.
Distinguished Guests,
Despite our flourishing cooperation, we have historically lacked a formal mechanism to systematically assess the breadth of our economic engagements and identify untapped potentials. This report represents a pioneering effort to evaluate the multidimensional aspects of our partnership in economic front. It meticulously outlines the key challenges impeding our collaboration and provides actionable recommendations to overcome them, charting a path for sustained progress for a meaningful economic engagement.
As the current interim government undertakes significant reform initiatives, it is imperative to identify and address barriers hindering our economic engagement. This report celebrates the successes of our 50-year bilateral economic partnership and highlights its exponential growth. It stands as a testament to the mutual economic development of both nations. We take pride in the contributions of Bangladeshi expatriates to Saudi Arabia’s progress, while Saudi Arabia’s unwavering support for Bangladesh’s energy security has been instrumental in driving our economic development.
Ladies and Gentlemen,
Projections indicate that Bangladesh is poised to emerge as a significant economic powerhouse in Asia and globally. With a burgeoning working-age population and a cohesive cultural fabric, Bangladesh offers a compelling investment landscape. Meanwhile, under the visionary leadership of His Majesty King Salman bin Abdulaziz Al Saud and His Royal Highness Crown Prince and Prime Minister Prince Mohammed bin Salman, Saudi Arabia’s transformative ‘Vision 2030’ initiative is propelling the Kingdom toward unparalleled heights of progress and prosperity. Together, our nations are uniquely positioned to complement and enhance each other’s development trajectories. This report will serve as an invaluable resource for businessmen, investors and policymakers, illuminating pathways for deeper economic collaboration.
Excellencies, Distinguished Guests,
The report underscores numerous untapped opportunities for advancing our economic engagement. The ongoing structural and governance reforms in Bangladesh present an unprecedented window for Saudi investors to capitalize on emerging opportunities. I urge Saudi businesses to explore the immense potential detailed in this report and encourage Bangladeshi entrepreneurs to actively pursue avenues to bolster bilateral trade and investment with our Saudi counterparts. Simultaneously, this report offers critical insights for policymakers to dismantle barriers to trade and investment, paving the way for seamless business facilitation between our two brotherly nations.
Esteemed Guests,
I extend my heartfelt gratitude to Secretary (East) Dr. Md. Nazrul Islam for spearheading this initiative to deepen our economic ties with Saudi Arabia. My appreciation also goes to Policy Exchange Bangladesh and the West Asia Wing of the Ministry of Foreign Affairs for their dedicated efforts in producing this remarkable report. Their work embodies a shared vision for elevating Saudi-Bangladesh economic relations to unprecedented heights.
I also acknowledge the sincere and hard work of Saudi Ambassador Essa bin Yusef Al Duhailan, who would depart soon after concluding his tour of duty, to contribute in enhancing our bilatarla engagement.
In conclusion, I express my sincere thanks to all of you who, despite your demanding schedules, have graced today’s event with your presence. Your participation underscores the importance of this initiative and our shared commitment to fostering enduring economic growth and collaboration.