BB governor, Singapore envoy discuss trade, economic cooperation
Bangladesh Bank and Singaporean authorities also agree to form a working committee to advance foreign trade digitalisation through TradeTrust.
Bangladesh and Singapore have discussed ways to expand bilateral trade and economic cooperation, along with various issues related to a possible free trade agreement between the two countries.
The issues were discussed during a courtesy meeting between Bangladesh Bank Governor and Singaporean ChargĂ© d’Affaires Philip Ong at the central bank’s headquarters on Wednesday, according to a Bangladesh Bank press release.
The meeting also agreed to form a working committee comprising representatives from Bangladesh Bank and relevant Singaporean authorities to advance the digitalisation of Bangladesh’s foreign trade through Singapore’s TradeTrust platform.
Singaporean representatives praised the interest shown by Bangladeshi banks in using the TradeTrust platform. Several local banks have already joined the initiative following a Bangladesh Bank circular, according to the release.
The governor stressed the need to explore new areas of trade and economic cooperation and called for a more balanced and diversified trade relationship between the two countries.
Ong was accompanied by Wong Choo Sin from Singapore’s Ministry of Trade and Industry and Benjamin Chue from Enterprise Singapore.
Bangladesh Bank Deputy Governors Dr Md Habibur Rahman and Md Sarwar Hossain, Executive Director Md Harun-or-Rashid and Director Abu Saleh Mohammad Shahab Uddin also attended the meeting.
