Bangladesh has made a proposal to sign a preferential trade agreement (PTA) with Maldives to bolster bilateral ties with an emphasis on improving connectivity and trade.
The proposal was made during a bilateral meeting between the two countries during recent visit of Maldivian President Ibrahim Mohamed Solih to Bangladesh. Prime Minister Sheikh Hasina and Maldivian president led their respective sides during the meeting on Thursday, reports bdnews24.com.
In reply, the Maldives contingent welcomed the proposal and agreed to give positive consideration to the text of the draft PTA shared by Bangladesh.
The two delegations reviewed the entire gamut of the relations and agreed to expand mutual cooperation in multiple prospective areas, including trade, commerce and investment, while stressing the need to harness bilateral trade potential to its fullest extent.
The two governments agreed to regularly hold Commerce Secretary Level Meeting (CSLM) to address bilateral trade issues in detail. Both sides aso agreed to expedite the finalisation of the proposed Agreement on Customs Cooperation and the signing of the Agreement on Avoidance of Double Taxation.
Further, the two leaders decided to establish a direct commercial shipping link between Malé and the three sea ports of Bangladesh through a shipping agreement.
Hasina called upon Maldives to import varieties of world-class products from Bangladesh.
Solih praised Hasina’s visionary leadership and phenomenal success in setting Bangladesh on the path to becoming a developed country by 2041.
He also lauded the contributions that Bangladeshi expatriates are making to Maldives' economy, with Hasina requesting the rapid regularisation of all undocumented Bangladeshi expatriates in the country.
The two leaders agreed to join hands in various multilateral platforms—including in the UN systems and the Climate Vulnerable Forum (CVF) to address the grave risks posed by the climate emergency. Hasina further offered to share Bangladesh’s disaster management expertise with the Maldives.
Bangladesh and Maldives signed four memoranda of understanding, including an effort to form a joint commission for comprehensive cooperation to boost bilateral ties between the countries.