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THE Singapore Business Federation (SBF), together with other partners, will be leading its first business delegation to Bangladesh over the next few days to explore opportunities in infrastructure and consumer sectors. Memoranda of understanding (MOUs) will be signed during the visit.
Some 38 senior representatives from government agencies and 32 companies will be in the delegation, and will be visiting Dhaka and Chittagong from July 8 to 14, SBF said in a release on Friday.
The visit is organised by SBF, Singapore Indian Chamber of Commerce and Industry (SICCI), Bangladesh Business Chamber of Singapore (BDCham) and and International Enterprise (IE) Singapore.
Mission participants will obtain first-hand understanding of the business environment and will be able to tap emerging opportunities in their sectors of interest. The delegation will also meet government officials and representatives of prominent businesses such as Partex Group and PHP Group of Companies.
A highlight of the business mission will be the inaugural Bangladesh-Singapore Business Forum organised by SBF in partnership with The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in Dhaka. Bangladesh's Minister of Industries, Alhaz Amir Hossain Amu, will grace the event on July 10 as guest of honour.
The forum will see the signing of MOUs between SBF, FBCCI and BDCham. The first will formalise the partnership between SBF and FBCCI. A second MOU, between SBF and Bangladesh Investment Development Authority (BIDA), aims to facilitate information exchange, trade and investment opportunities and promote Singapore's business interests in Bangladesh.
With an economy worth over US$600 billion, Bangladesh is a significant trading partner of Singapore, with bilateral trade amounting to S$3.9 billion in 2016. In the same year, Bangladesh was Singapore's 28th largest trading partner and 22nd largest export destination.