Bangladesh seeks investment opportunities in Uzbekistan

Bangladesh has sought investment opportunities for Bangladeshi entrepreneurs in Uzbekistan, a central Asian country rich in natural gas.

Such a proposal was made to the Uzbek authorities during the first-ever Foreign Office Consultation between Bangladesh and Uzbekistan held in Tashkent today.

Bangladesh Foreign Secretary Masud Bin Momen and Uzbekistan Deputy Foreign Minister Furkat Ahmedovich Sidikov led the respective sides.

Both sides emphasised increasing bilateral relationships on economic, commercial, trade, and other spheres between the two friendly countries.

The Bangladesh side proposed creating good investment opportunities for Bangladeshi entrepreneurs in Uzbekistan, saying Bangladesh is the second-largest garment-exporting country in the world after China and exports pharmaceuticals to 137 countries.

"If a business- and the industry-friendly situation is created in Uzbekistan, Bangladesh investors can come forward with their investment plans in Uzbekistan. Natural gas of Uzbekistan can be of great help for investment in the field of industries," said a foreign ministry statement.

Both sides discussed direct flights between Dhaka and Tashkent, avoidance of double taxation, visa waiver agreement for official and diplomatic passport holders, exchange of visits in the field of general and education.

The Bangladesh side also requested to expedite the proposed MoUs and agreements pending with the Uzbek side.

Masud Bin Momen requested his Uzbek counterpart to set up an Uzbekistan Embassy in Dhaka.

Both sides agreed to sign a Program of Cooperation for the year 2022-2023. This Program of Cooperation will allow the Foreign Service Academy of Bangladesh Foreign Ministry and University of World Economy and Diplomacy to start cooperation in the field of education, sharing information and communication technology and consular consultation.

Both sides agreed to hold the next Foreign Office Consultation meeting in 2023 in Dhaka.

Bangladesh Ambassador to Uzbekistan Zahangir Alam and foreign ministry Director General S Bodiruzzaman were also present at the FOC.