Bangladesh, S Africa discuss ways to boost trade, investment

Bangladesh and South Africa have some common socioeconomic development objectives and there are huge potentials to boost trade and investment between the two countries.

State Minister for Foreign Affairs Md Shahriar Alam said this while holding a bilateral meeting with Deputy Foreign Minister of South Africa Candith Mashego Dlamini during his official visit to Pretoria on February 3.

During the meeting, Alam mentioned the excellent existing relations between the two countries and stated that Bangladesh and South Africa have common objectives of socioeconomic development and huge potential lies to develop trade and investment relations.

He observed that a visa waiver agreement for diplomatic and official passport holders and an agreement on the avoidance of double taxation between Bangladesh and South Africa will facilitate contact and increase trade and investment between the two countries.

Alam viewed that the signature of the visa waiver agreement for diplomatic and official passport holders and the agreement on avoidance of double taxation between Bangladesh and South Africa will facilitate contact and increase trade and investment between the two countries.

Referring to his meeting with the Business Unity South Africa which took place on February 2, the state minister said that the chambers' organisation has shown interest in working with Bangladeshi chambers.

He expressed hope that with the mutual efforts, the bilateral trade may be enhanced to the tune of one billion dollars.

Alam proposed the formation of a Bangladesh-South Africa business council comprising different chamber officials and businessmen to assess business potentials and discuss business matters.

Besides, Dlamini referred to the recent high-level visits that took place between Bangladesh and South Africa recently.

She mentioned that both the South African and Bangladeshi peoples are resilient and enterprising. She underlined more cooperation in trade and economic areas between Bangladesh and South Africa.

Dlamini welcomed Bangladeshi investors to invest in tourism, textiles and other sectors in South Africa.

She remarked that as both sides have identified the potential areas of cooperation, institutional cooperation should be enhanced to further develop the relations.

The South African deputy foreign minister cited that trade and investment, culture, social development, textiles, climate change, energy security and commodity supply chain are the most potential areas of cooperation.

She underlined the need of holding regular foreign office meetings between the two countries.

Dlamini viewed that air service connectivity and B2B contacts would help develop business relations and contacts.

The deputy foreign minister proposed that the both sides may exchange knowledge in agriculture and peacekeeping areas.

She assured that the South African government would try to ease the visa procedure for Bangladeshi applicants.

State Minister Shahriar Alam thanked the South African government for their support in favour of Bangladesh's candidature at the UN and sought support for a few other candidatures.

He also thanked the South African government for their support on the Rohingya issue and sought their cooperation for the repatriation of the forcibly displaced Rohingya people to their homeland.

In response to the proposal for contract farming by Bangladeshi entrepreneurs in South Africa, Ms. Dlamini commented that there may be an exchange of knowledge between both sides in the area and the matter may be explored.

She commended the existing level of partnership between Bangladesh and South Africa and underscored the need for more engagement of private sectors in order to carry forward trade and economic relations.

Both sides agreed to continue working together to develop the bilateral relations to further heights.

The High Commissioner of Bangladesh to South Africa and officials of the Ministry of Foreign Affairs of Bangladesh were present at the meeting.