Bangladesh’s new leadership prioritizes stronger ties with Saudi Arabia

• Al-Duhailan expressed Saudi Arabia’s willingness to invest in Bangladesh in renewable energy and logistics.
• The meeting was fruitful, with Saudi Arabia requesting speedy procedures for Saudi investments.
• Saudi Arabia signed several investment agreements in Bangladesh.

After meeting with Saudi Arabia’s envoy to Dhaka, Bangladesh’s new interim leader, Prof. Muhammad Yunus, emphasized the importance of maintaining strong cooperation with the Kingdom. Muhammad Yunus, the 84-year-old Nobel Peace Prize-winning economist, assumed leadership of Bangladesh on August 8. He took charge following the departure of longtime Prime Minister Sheikh Hasina, who fled the country amid violent protests demanding her ouster.

Yunus’ technocrat cabinet, composed of prominent lawyers and economists, swiftly announced a series of judiciary, civil administration, security, and economic reforms aimed at restoring the country’s macroeconomic stability soon after his appointment. This week, Yunus personally began meeting with foreign envoys.

After meeting with Saudi Ambassador Essa Al-Duhailan, Yunus stated that Saudi Arabia is a “very important friend of Bangladesh” and expressed that his government looks forward to continuing cooperation with the Kingdom.

“Bangladesh is also a good friend for Saudi Arabia. We have mutual understanding on many issues, like climate change and also in areas of investment, manpower,” Al-Duhailan told Arab News on Wednesday evening.

“It’s a new area, a new destination, for Saudi investment. And we are willing to invest here in Bangladesh in renewable energy and also in the logistics.”

The ambassador stated that Saudi Arabia enjoys “excellent relations” with Bangladesh at both the official and people-to-people levels, and he described his meeting with Yunus as very “fruitful.”

“His excellency focused on how to extend help to Bangladesh, especially at this crucial junction, and also on energy support,” Al-Duhailan said.

“I asked his excellency to accelerate the procedures and waive all the obstacles in front of Saudi investments and also to attract Saudi capital because I believe that Bangladesh is a green field for investors in general and for Saudi investors in particular.”

Around 3 million Bangladeshis live and work in Saudi Arabia, making them the largest expatriate group in the Kingdom and the biggest Bangladeshi community outside their home country.

Since March of last year, official and business exchanges between the two nations have increased, following a visit to Dhaka by a delegation led by Saudi Commerce Minister Majid bin Abdullah Al-Qasabi.

During the visit, Saudi Arabia signed several investment agreements, entering Bangladesh’s energy, seaport, and agriculture industries. The chambers of commerce from both nations also established the Saudi-Bangladesh Business Council to strengthen bilateral trade ties.