Singapore Signals Support for Bangladesh’s Tech and Trade Transformation
Singapore has expressed keen interest in enhancing Bangladesh’s capacity in the information technology and logistics sectors, with a particular focus on reducing business operation costs. This commitment was conveyed during a bilateral trade meeting held on Thursday (April 10) between a 12-member trade delegation led by Singapore High Commissioner Derek Loh and the Dhaka Chamber of Commerce and Industry (DCCI), headed by its President Taskin Ahmed, at the DCCI Gulshan Center.
In his welcome remarks, DCCI President Taskin Ahmed said, “The 90-day suspension of additional tariffs imposed by the United States offers relief to global trade. However, a long-term solution must be sought through diplomatic dialogue.”
He also noted that Singapore is currently the second-largest foreign investor in Bangladesh, having already invested over USD 1.78 billion. In the last fiscal year, bilateral trade between the two countries reached USD 2.64 billion.
“Singapore has become a global trade hub through its efficient port management,” Taskin stated. “There is significant potential for Singaporean entrepreneurs to invest in Bangladesh’s ports, infrastructure, logistics, renewable energy, ICT, and healthcare sectors.” He further expressed hope for Singapore’s cooperation in developing the capacity of Bangladesh’s SME sector and expanding exports.
High Commissioner Derek Loh highlighted the importance of efficient port management and improved logistics in reducing operational costs, which he said would help Bangladeshi entrepreneurs remain competitive in global markets. He affirmed Singapore’s interest in assisting Bangladesh in advancing its logistics sector.
Stressing the need for reforms and automation in the revenue sector, the High Commissioner emphasized, “Industries must become sustainable through ESG compliance, the use of renewable energy, and solar power.” He added that Singapore has already increased its investments in the renewable energy sector, presenting opportunities for Bangladeshi entrepreneurs to participate.
The discussion was also attended by DCCI Senior Vice President Rajib H. Chowdhury, Vice President Md. Salim Solaiman, board directors, and Michelle Lee, Chargé d'Affaires of the Singapore High Commission.
