Bangladesh, Estonia vow to deepen ties thru trade, investment, economic ties

Both sides agreed to encourage greater private-sector interaction and exchanges of business delegations to realise the potential.

The issues were discussed during the 2nd Foreign Office Consultations (FOC) between the two countries held in Tallinn.

Ambassador Dr. M. Nazrul Islam, Secretary Bilateral (East & West) of Bangladesh, and Mati Murd, Head of the Asia and Pacific Region at the Foreign Affairs of Estonia, led their respective delegations during the meeting.

Both sides identified a lot of untapped opportunities for mutually beneficial cooperation and attached high priority to recalibrating and expanding relations between Bangladesh and Estonia, said the Ministry of Foreign Affairs.

They stressed the need to further deepen political cohesion and proposed organising reciprocal visits by the Foreign Ministers.

They discussed exploring the formation of a Bangladesh-Estonia Parliamentary Friendship Group to enhance regular interaction among parliamentarians.

Bangladesh highlighted its global leadership in key manufacturing sectors, including ready-made garments (RMG), jute and jute products, and the pharmaceutical industry.

The Bangladesh delegation invited Estonian investors to explore the investment-friendly climate in Special Economic Zones in Bangladesh and proposed the formation of a Joint Working Group (JWG) on Trade and Economic Cooperation, an MoU between the apex chambers, and invited an exploratory mission of the Estonian private sector.

They also discussed possible cooperation in employment opportunities.

Bangladesh highlighted its growing pool of skilled manpower, including IT professionals, engineers, electricians, plumbers, and healthcare workers.

Both sides discussed enhanced cooperation on the migration of skilled manpower from Bangladesh to Estonia under the EU’s Talent Partnership programme for ICT, caregiving, construction, hospitality and tourism, agriculture and agri-processing sectors. Estonia expressed its optimism on the matter.

Both Bangladesh and Estonia emphasised ICT cooperation, digital governance, interoperability, e-ID systems, secure data exchange, innovation, and business partnerships. Estonia expressed its readiness to extend support in e-governance in Bangladesh.

They further mentioned that many Estonian companies and investors in digital fields are very much interested in investing in Bangladesh and collaborating with Bangladeshi counterparts.

Estonian companies were invited to explore opportunities in Bangladesh in emerging sectors to increase business-to-business engagement and identify areas of mutual benefit.

The two countries also discussed building more people-to-people bridges, including cooperation in education and sports, scholarships for students, research collaboration, and exchanges of students, youths, tourists, and cultural troupes.

The delegations also discussed and agreed to conclude at the earliest a few other bilateral instruments regarding cooperation in areas such as trade and economic cooperation, cultural cooperation, tourism promotion, avoidance of double taxation, promotion and protection of investments, and cooperation in the fields of industry.

Estonia congratulated Foreign Minister of Bangladesh Dr Khalilur Rahman for being elected President of the 81st Session of the United Nations General Assembly.

They expressed their full support for him during his tenure and expressed hope that the UN Charter would be upheld during his presidency.

The Bangladesh delegation leader mentioned that the role of Bangladesh in UN peacekeeping missions is extraordinary and that Bangladesh is always committed to international law, respecting sovereignty, non-interference, equality and mutual respect among nations.

Both Bangladesh and Estonia agreed to deepen regional and global coordination and reaffirm close coordination, support each other’s candidatures in different elections, and provide mutual support across international platforms, including the UN. Estonia assured that it would extend its possible support on matters of Bangladesh’s interest in the EU.

They also exchanged views on critical regional and global developments, recognising their strategic positions as a unique opportunity to promote stability and inter-regional connectivity.

Estonia vowed to extend support to Bangladesh in international forums on matters related to Rohingya repatriation.

The Bangladesh delegation also had a discussion with Karin Maandi, Acting Under Secretary of the Department of NATO and Transatlantic Relations of the Foreign Affairs of Estonia, over lunch.

They further discussed issues of mutual interest in detail.

The delegations noted that the 2nd official consultation would strengthen future engagements in different areas of cooperation between the two friendly countries.

They decided to hold the third round of Foreign Office Consultations in Dhaka at a mutually convenient time, reports BSS.