Your Excellency, Begum Khaleda Zia, Prime Minister of Bangladesh

Excellencies

Distinguished Guests,

Ladies and Gentlemen.

Introduction

1.              We are honoured to welcome Prime Minister Zia, whose visit underlines a further strengthening of the already good relations between Singapore and Bangladesh.

Bilateral Economic Relations – Trade

2.              Singapore’s economic ties with Bangladesh have grown significantly over the years.  Bangladesh is our 2^nd largest trading partner in South Asia and our bilateral trade has been increasing.

3.              In 2004, Bangladesh’s exports to Singapore reached S$222 million, an increase of 25% from the previous year.  Singapore’s exports to Bangladesh last year reached some S$1.25 billion.

Investments

4.              On the investment front, Singaporean companies have invested substantially in Bangladesh, in sectors ranging from light manufacturing and agro-processing to industrial training.  According to data from the Bangladesh Board of Investment, Singaporean companies have invested more than US$700 million, with operations in the main urban centers of Dhaka and Chittagong.

Potential for Growth

5.              All these indications augur well for a further expansion and deepening of our economic linkages.

Governments as Enablers

6.              As Bangladesh pushes ahead with its economic development and liberalization agenda, you will find in Singapore a strong supporter.

7.              And Government agencies like the Board of Investment in Bangladesh and IE-Singapore can work with the respective Chambers of Commerce and Trade Boards to take full advantage of these developments to create opportunities and platforms for businesspeople on both sides to meet and explore projects and deals.

Conclusion

8.              I am confident that with an increase in exchanges and opportunities, trade and investments between our countries will grow from strength to strength.

9.              Thank you.