Bangladesh Courts Canadian Investment in ICT, Infrastructure, and Energy

Bangladesh Seeks Expanded Canadian Investment in Strategic Sectors During High-Level Bilateral Meeting

Bangladesh has urged Canada to expand its investments in several key sectors, including information and communication technology (ICT), infrastructure, pharmaceuticals, engineering, and renewable energy. The appeal was made by Foreign Secretary Masud Bin Momen during a high-level meeting with Canada’s Indo-Pacific Trade Representative, Paul Thoppil, held at the Ministry of Foreign Affairs in Dhaka today.

Mr. Thoppil, who arrived in Dhaka on Saturday evening, was accompanied by a high-level Canadian business delegation comprising representatives from prominent companies such as Gildan, BlackBerry, Advantech, Bell Helicopter, JCM Power, and Export Development Canada. The Canadian High Commissioner to Bangladesh, Mr. Ajit Singh, was also in attendance at the meeting.

This marks Mr. Thoppil’s second official visit to Bangladesh, underlining Canada’s increasing engagement and growing economic interest in the country. Discussions during the meeting spanned a wide range of bilateral matters, with a strong emphasis on trade, investment, and development cooperation.

Foreign Secretary Jashim Uddin presented an overview of the interim government’s ongoing economic reforms, designed to enhance the country’s business and investment climate. He assured that Canadian investors would find a favorable and predictable environment in Bangladesh. In response, Mr. Thoppil commended the reform initiatives and confirmed that Canadian companies were showing growing interest in engaging with the Bangladeshi market.

Both sides expressed satisfaction with the positive trajectory of bilateral trade, which has reached an impressive USD 3 billion. The Foreign Secretary expressed gratitude to Canada for offering duty-free and quota-free market access for Bangladeshi exports. He also conveyed optimism regarding ongoing technical discussions on finalizing a Foreign Investment Protection and Promotion Agreement (FIPA), noting that such a framework would further strengthen investor confidence.

The prospect of initiating formal dialogue on a Free Trade Agreement (FTA) was also discussed, with both sides recognizing the potential for such an agreement to significantly expand trade and investment flows. Mr. Thoppil reiterated that FIPA would be instrumental in reinforcing the trust of Canadian businesses looking to invest in Bangladesh.

The meeting also acknowledged the strengthening people-to-people connections between the two countries. Mr. Thoppil appreciated the dynamic contributions of the Bangladeshi diaspora in Canada and highlighted the role such ties play in fostering mutual understanding and cooperation. In this context, Foreign Secretary Jashim Uddin emphasized the importance of easing the student visa process to facilitate educational exchange and skills development.

Additionally, the Foreign Secretary conveyed Bangladesh’s appreciation for Canada’s humanitarian assistance to the Rohingya refugees and urged continued international support to ensure their safe, dignified, and sustainable repatriation to Myanmar.