South African trade minister focuses on joint ventures

South African Trade Minister, Ebrahim Patel underlined the importance of joint ventures between Bangladesh and South Africa in a virtual discussion with Foreign Minister A. K. Abdul Momen, recently.

During his official bilateral visit to South Africa, the foreign minister joined the virtual discussion with Ebrahim Patel, Minister of Trade, Industry and Competition of South Africa, said a press release.

Patel suggested sharing knowledge between Bangladesh and South Africa in IT sector.

The Ministers both underlined the importance of institutional cooperation in the form of exchange of the visits of trade and business delegations and conclusion of Agreements in the trade, investment and commerce areas.

The FM informed Patel about various facilities and incentives that are provided to the foreign investors in Bangladesh.

Both the ministers agreed to continue cooperation with a view to enhancing trade, economic and business relations between the friendly countries.

Foreign Minister also mentioned the remarkable economic growth that Bangladesh was attained during the last twelve years under the leadership of Prime Minister, Sheikh Hasina.

He informed the South African trade minister that Bangladesh is presently sheltering 1.1 million forcibly displaced Myanmar nationals in Bangladesh.

During the virtual discussions, the South African Trade Minister strongly suggested that Bangladesh investors may visit South Africa to see the investment opportunities in South Africa.

He indicated that Bangladeshi investors can invest in South Africa in different sectors including clothing, textiles and footwear sectors.

While, Abdul Momen said that Bangladeshi investors have invested in some African countries and if the South African government extends their accord for similar investment, Bangladeshi investors are likely to consider investing in South Africa.

He added that collaboration in many sectors like IT and agro-processed industry would provide win-win situation for both countries.

The other members of Bangladesh delegation, who comprised Foreign Ministry officials and Bangladesh High Commissioner in South Africa also joined the virtual discussion.