Bangladesh’s Economy Shows Tremendous Resilience: Halima Yacob

Bangladesh’s economy has shown tremendous resilience during the pandemic and posted the highest growth in the region, Singaporean President Halima Yacob said, reports media.

“Bangladesh’s economy has witnessed tremendous growth in the last 10-12 years under the leadership of Prime Minister Sheikh Hasina,” said the president when Bangladesh Foreign Minister Dr AK Abdul Momen called on her at Presidential place on Tuesday.

Singaporean President said Bangladesh laid emphasis on inking free trade agreement (FTA) with Singapore with a view to increasing trade and investment between the two countries.

The Southeast Asian country is also the third-largest importing partner of Bangladesh sharing about US$2.4 billion (S$3.23 billion) in 2020 even amidst the pandemic.

Singapore's trade surplus with Bangladesh was about US$2.2 billion (S$2.96 billion).

"We had a good discussion on bilateral cooperation," the Singaporean president wrote in her official Facebook page after the meeting.

Singapore was the first Southeast Asian country to establish diplomatic relations with Bangladesh in 1972.  Since then, the bilateral ties have continued to grow and prosper in a meaningful and mutually beneficial manner, she said.

Bangladesh's economy is projected to reach $516.24 billion in the fiscal 2024-25, outperforming advanced economies such as Denmark, Singapore and Hong Kong along the way, says the International Monetary Fund (IMF).

During the meeting, they discussed different issues, including the opportunities for enhancing trade and investment between the two countries, according to a message received here.

They also discussed issues related to regional and global developments

Dr Momen is now on an official visit to Singapore which coincides with the 50th anniversary of diplomatic relations between Bangladesh and Singapore.