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National Day: Independence and National Day 26 Mar
2019 Embassy Activities Round-Up
Bangladesh-Singapore: A Thriving Bond
Bangladesh showcases her rich heritage, vibrant culture as well as trade and investment opportunities
Singapore and Bangladesh have been enjoying the warmest of relationships since the establishment of diplomatic ties in February 1972.
Mutual trust and cooperation have thrived over time and are well reflected in the fields of trade, training, culture exchanges, tourism, healthcare, and human resources. Recent high-level visits have expanded the scope of infrastructural development for regional growth as well as sharing of best practices aimed towards capacity building for good governances as well as other technical issues.
One of the prime focus areas of the Bangladesh High Commission in 2019 was to promote business relations between the two countries. The High Commission, in partnership with Singapore Business Federation (SBF), Enterprise Singapore (ENTERPRISESG), and the Institute of South Asian Studies, National University of Singapore (ISAS, NUS) hosted a day-long seminar on the socio-economic development of Bangladesh. The Seminar took place on 08 July 2019 in the auditorium of SBF. The objective of the Seminar was to highlight to Singapore investors and business community the recent phenomenal socio-economic development of Bangladesh and impress upon them to invest in and do business with Bangladesh by taking advantage of its liberal foreign investment regime and business policy.
A delegation comprising leading investors and business people from Singapore visited Bangladesh from 24 to 30 August 2019. Singapore Business Federation and Enterprise Singapore jointly organized the exposure visit. The objective of this visit was to gain a first-hand understanding of the market dynamics and emerging sectors in Bangladesh and establish useful business and official contacts through networking. The High Commission facilitated the exposure visit and arranged for the delegation meetings with business leaders in Bangladesh, and high officials of BIDA, PPP Authority, Ministry of Shipping and Ministry of Commerce of Bangladesh.
Cultural promotion remains another essential avenue for strengthening ties between the two nations. In November 2019, the Mission hosted a week-long food festival at the Mandarin Orchard Hotel from 11-17 November 2019. The unique event presented to the Singapore food lovers as well as the local Diplomatic Community with a plethora of savory Bangladeshi cuisines prepared by guest chefs from Bangladesh. The guests were also entertained with live flute playing and a short tour to the display center where Bangladeshi handicrafts, exportable, and traditional items were showcased.
Today, Singapore is Bangladesh’s fourth-largest source of foreign direct investment, and its companies are showing increasing interest in the growing Bangladeshi market, particularly in the power, connectivity and infrastructure sectors. Two-way trade between the two countries stood well over US$3 billion in 2018, although trade balance heavily tilted in favour of Singapore.
Singapore is a reliable destination for Bangladeshi workers. Presently, more than 1,30,000 expatriate Bangladeshi workers are working here in various sectors and contributing to the economies of both countries. Taking care of the welfare of the large community of Bangladeshi workers here is one of the High Commission’s core responsibilities.
Today Bangladesh and Singapore are well connected through numerous daily flights and many Bangladeshi tourists visit Singapore daily, promoting people-to-people contact. Both the governments are committed to take the existing warm bilateral relations to a newer heights in the coming days and explore ways to deepen engagements for mutual benefits.