Bangladesh-Singapore to finalize FTA by 2026
Bangladesh and Singapore have reaffirmed their commitment to concluding a Free Trade Agreement (FTA) by 2026, marking a significant step toward deepening economic cooperation between the two nations.
During the Fourth Foreign Office Consultations (FOC) held in Singapore on Monday, both sides agreed to work collaboratively on several key agreements, including a customs cooperation pact, a revised protocol for avoiding double taxation, a treaty on mutual legal assistance in criminal matters, and a memorandum of understanding on tourism cooperation.
The consultations focused on strengthening bilateral relations and exploring opportunities in new and emerging sectors. Bangladesh's Foreign Secretary Md Jashim Uddin led the Bangladeshi delegation, while Luke Goh, Permanent Secretary at Singapore’s Ministry of Foreign Affairs, represented Singapore.
Wide-ranging discussions covered trade and investment, power and energy, connectivity, the digital economy, healthcare, agriculture, waste management, tourism, and human capital development. Regional and international issues were also on the agenda.
The ongoing FTA negotiations were a central topic, with Foreign Secretary Jashim Uddin promoting Bangladesh as a dependable source of competitively priced, high-quality products such as ready-made garments, pharmaceuticals, leather goods, ceramics, jute items, and footwear. He encouraged Singaporean businesses to increase engagement in these sectors to help create a more balanced trade relationship.
Acknowledging Singapore as one of Bangladesh’s major investors, Uddin invited further investment in areas such as the country’s Economic Zones and energy sector. The two countries also discussed potential collaboration in agricultural technology, logistics, contract farming, and tourism infrastructure development.
Both sides praised the contributions of Bangladeshi workers in Singapore and explored avenues for enhancing human resource development through training and skills initiatives. Bangladesh also sought Singapore’s cooperation in developing a Waste-to-Energy Plant to support the country’s transition toward sustainable energy solutions.
Additionally, Bangladesh thanked Singapore for supporting its bid to become a Sectoral Dialogue Partner of ASEAN and expressed interest in joining both the ASEAN Free Trade Agreement and the Regional Comprehensive Economic Partnership (RCEP).
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