Dhaka-Singapore ties

The prime minister visualises Bangladesh taking the road to building a stable, moderate and modern society where economic cooperation with a country like Singapore is a prized objective. She has called upon the Singapore business leaders to combine their technology with Bangladeshi labour to create a "competitive supply chain for global consumption". The two economies have compatibilities that await fuller exploitation to the further mutual benefit of Dhaka and Singapore. Singaporeans are known for their business acumen and their private sector has strong traditions in joint venture undertakings, something that Bangladesh can benefit from if the two countries emerge as partners in economic development.

Bangladesh has large reserves of natural gas and high quality coal, which can help set up energy-intensive manufacturing plants. It has a vast labour force, skilled, semi-skilled and trainable, which is waiting to be harnessed through large transfusions of FDIs. The geographical location of Bangladesh is an important factor as it can be a bridge between the emerging markets of South Asia and those among the fastest growing ones in the Asean region.

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Trans-national companies (TNCs) like Orascom of Egypt, Tata group of India, Lafarge of France, Dhabi group of UAE have already taken initiatives for big investments in Bangladesh. One thing should lead to another; but for all the visions to materialise, we need to strengthen our infrastructure, disentangle bureaucratic procedures, stem the tide of political confrontation and improve the law and order situation.

We are looking forward to a more balanced inter-penetration of markets, and steadier inflow of investments under-pinned by sustained interactions between private sectors of the two countries.