Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 1086 Thu. June 21, 2007  
   
Business


Govt to sign 3 deals with Bahrain to boost trade


Bangladesh and Bahrain will sign three agreements on avoidance of double taxation, investment promotion and protection, and air services by the year-end to boost trade.

Bahrain may also recruit more semi-skilled and skilled Bangladeshi labourers. Some 75,000 workers are in the Gulf state now.

The Gulf state also showed keen interest to import pharmaceuticals from Bangladesh during a bilateral meeting between Bahrain's visiting State Minister for Foreign Affairs Nezar Sadiq al-Baharna and Foreign Adviser Iftekhar A Chowdhury yesterday.

"Our relations will be strengthened by the signing of a number of agreements. The two countries hopefully will sign the agreement by the end f the year," said Iftekhar after a meeting with al-Baharna at the Padma state guest house on the first day of his three-day visit.

The deal on the avoidance of double taxation follows similar agreements between Bangladesh and the other countries.

The agreement on air services will help Bangladeshis restart export of vegetables and other food items to Bahrain. The export is stalled due to suspension of Bangladesh Biman flights to the island country with a population of around 700,000.

Bahrain's state minister showed interest to import Bangladeshi pharmaceuticals, ready-made garments, and food items.

Iftekhar also asked for greater Bahrain investment in Bangladesh that will strengthen bilateral relations. Currently, Bangladesh annually exports goods worth $4 million to Bahrain and imports $3.5 million goods.

Bahrain's state minister is scheduled to visit Square Pharmaceuticals at the Savar Export Processing Zone, Grameen Bank projects and the Jamuna Bridge today.