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Significant strides towards bolstering economic cooperation between the United Kingdom and Bangladesh were made today as Jonathan Reynolds, the UK Secretary of State for Business and Trade and President of the Board of Trade, held a high-level meeting with Bangladesh's Chief Adviser, Professor Muhammad Yunus, at the British Parliament.
The discussions, described as highly productive, centred on strategies to elevate bilateral trade and attract substantial British investment into Bangladesh. Both nations expressed keen interest in exploring avenues for mutual economic growth and prosperity.
A key point of the meeting was the UK's reaffirmation of its commitment to assist Bangladesh's interim government in its crucial efforts to recover misappropriated funds that have been siphoned off to various international destinations. This underscores a shared dedication to good governance and financial integrity.
Professor Yunus provided an update on Bangladesh's ongoing economic recovery initiatives. He detailed the interim government's significant reforms within the banking sector, successful efforts to stabilise foreign exchange reserves, and robust measures taken to maintain overall macroeconomic stability. These steps are aimed at creating a more resilient and attractive investment climate in Bangladesh.
The meeting saw the presence of a distinguished delegation from Bangladesh, including National Security Adviser Dr. Khalilur Rahman, Special Envoy to the Chief Adviser Lutfey Siddiqi, and SDG Coordinator Lamiya Morshed.
During the talks, Special Envoy Siddiqi put forth a compelling proposal for the initiation of a bilateral Free Trade Agreement (FTA) between the UK and Bangladesh. He highlighted that Dhaka has already engaged in FTA discussions with several other countries, notably Japan, signaling Bangladesh's proactive approach to expanding its global trade partnerships.
Representing the UK, Trade Envoy to Bangladesh, Baroness Rosie Winterton, and British High Commissioner to Dhaka, Sarah Cooke, also participated, further solidifying the importance of the diplomatic and trade relationship between the two nations. This meeting signifies a strong mutual desire to forge closer economic links and explore new opportunities for collaboration.
