Swiss Ambassador meets Commerce Minister

Commerce Minister Khandaker Abdul Muktadir met Swiss Ambassador to Bangladesh Reto Rengli. The meeting was held at the Commerce Minister's office at the Secretariat on Sunday (April 26).

The meeting held fruitful discussions on various issues to strengthen bilateral trade, investment and economic cooperation between Bangladesh and Switzerland.

It was mentioned in the discussion that the two countries have been maintaining friendly relations for a long time. Bangladesh is getting duty-free access to the Swiss market under the GSP facility, which is playing an important role in expanding trade.

Commerce Minister Khandaker Abdul Muktadir said that most people in Bangladesh are aware of the high quality of Swiss products. Considering the significant middle class in the country, he said that if the prices of Swiss products are competitive, it will attract more customers. To this end, increasing investment in the service sector will benefit both countries.

He further said that the Bangladesh government has taken various initiatives to attract foreign investment. If Swiss investment increases in promising sectors like pharmaceuticals, leather products, light engineering and shipbuilding, the bilateral trade relations will be further strengthened.

The meeting also sought Switzerland's support for extending the deadline for Bangladesh's LDC transition by three years. It was also hoped that it would be possible to increase the volume of trade by increasing communication between the business organizations and chambers of commerce of the two countries and strengthening joint ventures.

Ambassador Reto Rengli said that the trade deficit between the two countries is still significant. However, this deficit can be reduced by increasing bilateral cooperation. He also expressed Switzerland's interest in increasing trade and investment in Bangladesh.

Secretary (Routine Responsibilities) of the Ministry of Commerce Md. Abdur Rahim Khan was present at the meeting.