Bangladesh-Australia agreement signed to boost trade and investment

Sunbd Desk , Published: 2021-09-15 13:59:15, Updated: 2021-09-15 14:05:57

Trade and Investment Framework Arrangement (TIFA) has been signed between Bangladesh and Australia to increase trade and investment. On Wednesday (September 15) the agreement was signed at a ceremony at the Secretariat on Wednesday . It was signed by Commerce Minister Tipu Munshi and Australian Trade, Tourism and Investment Minister Dan Tihan on behalf of their respective countries.

Government of Bangladesh has announced a package of special facilities to attract domestic and foreign investment. It has been made easier to provide systematic services in terms of investment. Bangladesh is a big market for about 170 million people. Australian investors will benefit if they invest in Bangladesh.

Tipu Munshi said Bangladesh’s trade and economic relations with Australia are long-standing. In the 2018-2019 financial year, Bangladesh exported goods worth US 804.63 million to Australia, while importing goods worth US 596.70 million. Due to Corona the last two years trade has not been as expected.