Govt seeks funds from Saudi Arabia for big projects

The government has requested Saudi Arabia to finance big projects and import products from Bangladesh to further boost cooperation between the two countries.

Finance Minister AMA Muhith sought the support of the Saudi government for commissioning a flagship project such as building a fertiliser plant in Bangladesh, according to a finance ministry statement.

Muhith left Bangladesh with a six-member delegation on November 22 for a five-day visit to Saudi Arabia.

He sought Saudi Arabia's cooperation in different fields during the meeting with his Saudi counterpart Ibrahim bin Abdulaziz Al-Assaf.

Muhith also requested the Saudi government to provide more funds for projects in Bangladesh and recruit more people from Bangladesh.

Al-Assaf underlined the need for regular and increased interaction between businesses of both the countries to promote trade and investment, the statement said.

Both ministers agreed to increase import of quality products such as garments and medicines from Bangladesh.

They also discussed possibilities of opening a branch of a commercial bank of Bangladesh in Saudi Arabia which would be helpful to promote business between the two countries, the statement added.

The ministers agreed to explore investment and trade opportunities by sharing experiences, funding and training between the countries.

Muhith will be the keynote speaker at a seminar on "investment opportunities in Bangladesh" to be organised by Riyadh Chamber of Commerce and Industry for the Saudi businessmen during the visit..

He will also meet the president of Islamic Development Bank and will sign an agreement to set up the bank's office in Dhaka.