Bangladesh, Mexico discusses ways to boost bilateral trade to utilise potential

ZOOMBANGLA DESK: State Minister for Foreign Affairs Md. Shahriar Alam on Wednesday met Mexican Deputy Minister for Foreign Trade Luz Maria de la Mora Sanchez.

During the meeting, two ministers discussed ways and means to further bolster bilateral relations, trade and investment relations between two countries.

Expressing Bangladesh’s willingness to engage more with Mexico bilaterally, State Minister Shahriar Alam recalled his maiden visit to Mexico, which was the first ever bilateral meeting of any Bangladeshi Minister to Mexico.

Mexican Deputy Minister stated that trade is the way to come closer and appreciated that Bangladesh is reaching out Mexico for enhanced engagement.

Both Ministers agreed that this is important to know each other more to explore possibilities of augmenting bilateral economic relations between two countries.

Bangladeshi State Minister briefed his Mexican counterpart about the commendable progress Bangladesh is making in the socio-economic arena.

Mexican Deputy Minister Mora Sanchez opined that both countries may learn from each other, including in areas like supporting SMEs, agriculture, food security etc.

She also underscored that every country has its own potentials.This is important that regular contacts are maintained. In this connection, she appreciated the fact that Bangladesh has reached out the Mexican business community and expressed satisfaction about the signing of the MoU between FBCCI and Mexican COMCE, the apex business bodies of two countries.

Shahriar Alam elaborated on Bangladesh’s open and congenial trade and investment environment, and underscored that the richer countries should provide more trade access to poorer countries.

He also elaborated on Bangladesh’s compliance to international labour laws, and highlighted the fact that some of the top RMG industries globally in terms of safety are located in Bangladesh.

Bangladesh State Minister also informed his counterpart that for the business communities of two countries, setting bilateral trade targets may be aspirational but useful. For example, Mexican and Bangladeshi business community has been set a target by him, during the interactive discussion, to uplift the trade figure above one billion USD.

Mexican Deputy Minister offered venue for any possible trade related seminar or exhibition by Bangladesh Embassy or business community in Mexico City.

She underscored the importance of moving forward, as both countries have many people who are left behind. Two Ministers agreed on maintaining contact for mutual interest, including through Bangladesh Embassy in Mexico City.

Earlier in the morning today, State Minister Shahriar Alam participated in the MoU signing ceremony between FBCCI and COMCE during a breakfast meeting with Mexican business persons, organized by Bangladesh Embassy.

Officials of the Mexican Business Council for Foreign Trade, Investment and Technology (COMCE), business leaders from Mexico and Bangladesh, the Ambassador of Bangladesh were present.

After the MoU signing session, Bangladesh State Minister thanked the COMCE and the Bangladesh Embassy in Mexico for arranging this important event in the year of Mexico’s 200 Years of Independence and Bangladesh’s 50th Year of Independence, with the view to elevate the Bangladesh-Mexico Business Corridor.

He mentioned that since the assumption of power in 2009, Prime Minister Sheikh Hasina’s Government is relentlessly working to make a prosperous Bangladesh. Bangladesh has emerged as a land of opportunities and potentials, and is emerging as an economic powerhouse in Asia.

He also said that during the last one decade, Bangladesh has made remarkable progress in all socio-economic sectors like poverty alleviation, nutrition, maternal and child health, primary education, women empowerment, food security etc. The country is in the process of building a ‘Digital Bangladesh’, where information and communication technology (ICT) is playing an ever-increasing role in all walks of life. The strength of Bangladesh’s economy, which has shown great resilience even in the face of COVID-19 pandemic, is now globally recognized. Annual average GDP growth was 6.3 percent for the last 12 years.

State Minister Shahriar Alam observed that there is ample potential in expanding the trade relations between the two countries, which still remains moderate despite the fact that the bilateral trade has witnessed an increase in the recent past.

He also hoped that the MoU will work as the milestone to expand business relations between two countries.

The MoU signing ceremony was followed by a private business meeting between Bangladeshi and Mexican business persons. During the meeting, Bangladesh business bodies proposed to establish the Bangladesh- Mexico Chamber of Commerce.

The Mexican business bodies welcomed the proposal and they opined to establish the Mexico Bangladesh Business Committee as the first step of it.

State Minister Shahriar Alam also attended a “Meet the Press” session organized by Bangladesh Embassy in Mexico City, and briefed journalists on the extraordinary economic progress Bangladesh has achieved, as well as the willingness of Bangladesh to engage more with Mexico bilaterally in political and economic arenas as well as people-to-people level.

During a question answer session, he also elaborated on Bangladesh’s leadership role in the climate change related multilateral process and also on the present situation related to Rohingya crisis. During the session, Prime Minister Sheikh Hasina’s 75th birthday was celebrated by all present by cutting a cake.

Bangladesh State Minister also gave interview to four Mexican media outlets namely El Excelsior newspaper, Channel 11 Radio, El Heraldo newspaper and Mundo Ejecutivo television. He is scheduled to attend tomorrow a “Meet the Students” programme in Ibero-Americano University in Mexico with the view to discussing with the students on the socio-economic progress of Bangladesh in recent years. (Press Release)