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Saudi Arabia to increase garment imports from Bangladesh

To cater to the rising domestic demand Saudi Arabia has decided to increase imports of readymade garments, medicine and some other quality products from Bangladesh. Saudi Arabia’s finance minister Ibrahim bin Abdulaziz Al-Assaf has said to have conveyed the decision to Bangladesh’s finance minister AMA Muhith at a meeting, held in Riyadh.

During the meeting, the two ministers agreed to explore investment and trade opportunities by sharing experiences, funding and arranging training. Discussions also revolved around letting a Bangladeshi commercial bank open a branch in Saudi Arabia, which could help promote business transactions between the two countries. While apprising the Saudi Arabian side about the recent initiatives and measures for social and economic development in Bangladesh, Muhith sought more funding support from the Saudi government in various projects including a project for building a fertiliser factory. He also urged his Saudi counterpart to recruit quality manpower from Bangladesh.

The Bangladeshi minister also appreciated the active participation of Saudi delegation in the 11th session of the joint commission between the two countries held in Dhaka recently, where important decisions were taken to intensify bilateral cooperation, particularly in the areas of trade and investment.