Bangladesh, Mexico for joint investment

Bangladesh and Mexico have agreed to look into the possibilities of joint investment in ceramic, shipbuilding, IT, leather and pharmaceutical sectors.

The decision was taken during a meeting between Bangladesh's Minister of State for Foreign Affairs Md Shahriar Alam and Mexico’s economic minister Ildefonso Guajardo Villarreal.

The foreign ministry on Wednesday said the junior minister was visiting Mexico from Aug 24 in the first ever bilateral visit from Bangladesh.

The visit is taking place to mark the 40th anniversary of establishing diplomatic relations between the two nations.

He held meetings with high-level Mexican politicians and business leaders during the visit.

During his meeting with the economic minister, he invited Mexican investment in ceramic, shipbuilding, IT, leather and pharmaceutical sectors.

“Both sides agreed to look into the possibilities of joint investment in these sectors which would be mutually benefitted to both the countries,” the foreign ministry said.

Alam met the expatriate Bangladeshis who emphasised on opening up a resident Mexican mission in Dhaka.

He assured them of appropriate action.

He also met the business leaders and encouraged them to relocate their industries in Bangladesh.

The economic minister of Mexico said there were huge “untapped potential” for trade and investment between Bangladesh and Mexico.

They also discussed the possibility of exchanging trade delegations soonest.

Alam also met the Deputy Foreign Minister Carlos de Icaza.

The foreign ministry said Bangladesh initiated negotiations for signing two possible cooperation agreements for visa waiver of diplomatic and official passport holders and regular Foreign Office Consultations.

Another agreement between the NBR and its Mexican Counterpart SAT (Servicio de Administración Tributaria–Tax Service Administration) on Mutual Administrative Assistance and Exchange of Information in Customs Matters is at the final stage and would be ready soon.

During the meeting with the deputy foreign minister, the two sides agreed to sign the proposed MOU on Foreign Office Consultations between the countries.