State Minister for Foreign Affairs Shama Obaed Islam has called for stronger trade and investment ties between Bangladesh and Singapore, while seeking greater employment opportunities for Bangladeshi skilled workers in the city-state.
She made the remarks on 10 August at a meeting with Bangladeshi businesspeople, professionals and migrant workers in Singapore, organised by the Bangladesh Chamber of Singapore.
Shama highlighted Singapore’s potential to invest in Bangladesh, particularly in renewable energy, artificial intelligence, technology, pharmaceuticals, ICT, education and technical and vocational education and training (TVET).
She said economic diplomacy should play a key role in attracting investment and expanding trade. As Bangladesh has a trade deficit with Singapore, she stressed the need to diversify exports, identifying jute and jute-based products as promising areas.
The state minister also proposed forming a joint Bangladesh-Singapore Chamber to promote trade, investment and business cooperation between the two countries.
Business representatives called for greater Singaporean investment in Bangladesh, particularly in data centres, and suggested negotiating a Free Trade Agreement (FTA). They said an FTA could benefit Bangladeshi steel, shipbuilding and ship-recycling companies through duty-free access to the Singaporean market.
They also proposed business roadshows, trade fairs, a one-stop service for Singaporean investors and simpler procedures for opening bank accounts.
Bangladeshi professionals and migrant workers raised issues including high migration costs and alleged exploitation by some recruiting agencies. They suggested expanding employment opportunities in skilled sectors such as IT, data analysis, cybersecurity and AI, as well as developing elderly caregiving as a potential field for Bangladeshi workers.
Participants also called for stronger cooperation between hospitals in Bangladesh and Singapore and suggested a government-to-government framework for providing certain treatments in Bangladesh at lower costs.
Shama said the government is working to establish a transparent recruitment system to reduce migration costs and worker exploitation. She also said Bangladesh is reviewing opportunities in the TVET sector to expand overseas employment.
She encouraged Bangladeshi entrepreneurs in Singapore to invest in Bangladesh and urged participants to submit their proposals in writing so the government could coordinate with relevant ministries and agencies to take necessary action.
