Foreign Minister Dr. AK Abdul Momen has urged his Indonesian counterpart to facilitate the entry of Bangladeshi ready-made garment products into the Indonesian market.
During a meeting with Indonesian Foreign Minister Retno Marsudi in Jakarta on September 4, Dr. Momen expressed his contentment with the recent surge in bilateral trade, surpassing $3 billion.
However, he pointed out a significant trade imbalance between Bangladesh's imports and exports.
Dr. Momen emphasized that to address this imbalance, it is essential to boost the export of Bangladeshi goods to the Indonesian market, especially those in which Bangladesh has a competitive advantage. He recognized Indonesia as a crucial trade partner in the ASEAN region and highlighted the untapped potential for further expanding bilateral trade and investment.
The Foreign Minister expressed optimism about the swift finalization of the bilateral Preferential Trade Agreement between the two nations. During their meeting, both ministers discussed various aspects of the bilateral relationship, including trade, investment, collaboration in international forums, Bangladesh's bid to become a sectoral dialogue partner of ASEAN, and the issue of repatriating forcibly displaced Myanmar nationals (Rohingyas) currently sheltered in Bangladesh.
Foreign Minister Marsudi praised the remarkable socio-economic progress achieved under the leadership of Prime Minister Sheikh Hasina and emphasized the cultural and historical ties between Bangladesh and Indonesia. She stressed the need to explore new avenues of collaboration to strengthen the relationship between the two nations further. Energy and food security were also highlighted as potential areas for enhanced cooperation.
During the meeting, the two ministers signed a memorandum of understanding (MOU) to promote collaboration in the energy sector, focusing on the sale and delivery of conventional energy sources and the development of new and renewable energy solutions in Bangladesh. Additionally, an MOU on agricultural cooperation was signed by Dr. Momen on behalf of Bangladesh, aiming to foster collaboration in agriculture, including production, marketing, technology transfer, and sharing best practices.
Dr. Momen's visit to Jakarta coincides with President Mohammed Shahabuddin's attendance at the 43rd ASEAN Summit and the 18th East Asia Summit, where they join leaders from Southeast Asia and beyond upon the invitation of President Joko Widodo of Indonesia.
BDST: 1038 HRS, SEP 05, 2023
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