Bangladesh, Algeria agree to boost trade, investment cooperation

Bangladesh and Algeria have agreed to bolster bilateral trade and investment cooperation, particularly in key sectors such as energy, pharmaceuticals, textiles, agriculture, and ICT, following the second Foreign Office Consultation, FOC, held in Algiers on Wednesday, February 5.

During the meeting, delegations from both Bangladesh and Algeria’s foreign affairs ministries reviewed the full spectrum of their bilateral relations, covering political, economic, trade, investment, and cultural cooperation. 

Bangladesh Foreign Secretary Md Jashim Uddin and Secretary General of Algerian Foreign Affairs Ministry and National Community Abroad Lounes Magramane led their respective side, according to a message received in Dhaka.  

Expressing satisfaction over the growing ties, both countries acknowledged the rise in signed Memorandums of Understanding (MoUs) from six to 22, as well as the increased exchange of business delegations in recent years.

Discussions focused on expediting formalities for the signing of finalised Memorandum of Understandings, MoUs, between the respective Chambers of Commerce and diplomatic training academies.

Besides, both sides reviewed the proposed MoU on visa exemption for diplomatic and official passport holders and emphasised upgrading expired agreements to align with current expectations.

Bangladesh foreign secretary stressed the urgent need to operationalise the Working Group on energy, formed in both the countries respective capitals, to identify potential areas for collaboration in the sector.

Regional and global issues of mutual interest, including the Rohingya crisis, were also discussed, with both nations committing to continued cooperation in multilateral platforms.

Both sides underscored the importance of regular consultations and high-level visits to deepen engagements further. They agreed to hold the next round of bilateral consultations in Dhaka at a mutually convenient time.

Following the FOC, Foreign Secretary Jashim Uddin met Algerian Foreign Minister Ahmed Attaf and reaffirmed the long-standing and friendly relations between Bangladesh and Algeria. 

During the meeting, both sides discussed about exploring ways to enhance cooperation in trade, investment, and energy.

The Foreign Secretary also briefed the Algerian Foreign Minister on Bangladesh’s reform initiatives, to which Attaf assured Algeria’s full cooperation in strengthening bilateral ties.

Source: BSS