Algeria has underscored the imperative for intensified efforts to elevate bilateral cooperation with Bangladesh, emphasizing the significance of a concerted approach. In response, Bangladesh has emphasized the expansion of cooperation in emerging domains through a time-bound and targeted roadmap, along with the acceleration of pending agreements, MOUs, and new avenues for collaboration.
The Ministry of Foreign Affairs confirmed Algeria’s commitment to promptly concluding these agreements, signaling their dedication to fostering enhanced relations.
A courteous meeting unfolded between Laaziz Faid, the Minister of Finance and Head of the Algerian delegation to the BRICS Outreach Forum, and Bangladesh’s Foreign Minister Dr AK Abdul Momen in Johannesburg, South Africa. Acknowledging Bangladesh’s growing demand for energy due to economic expansion, Foreign Minister Momen underlined the importance of Algerian support to address the present energy crisis.
Furthermore, he expressed Bangladesh’s keen interest in procuring LNG from Algeria, demonstrating a strategic alignment between the nations.
Diverse bilateral matters of mutual concern were discussed between the Foreign Minister and the Algerian Finance Minister during this exchange. Reflecting on the historical ties between both countries, attributed to the pioneering efforts of Father of the Nation Bangabandhu Sheikh Mujibur Rahman, Foreign Minister Momen expressed contentment with the robust bilateral relations between Algeria and Bangladesh.
He highlighted the evolving collaboration across political, economic, business, trade, and investment sectors.
Underlining Bangladesh’s earnest aspiration to join the BRICS group, Foreign Minister Momen shared insights into the nation’s intentions. The Algerian Finance Minister referenced the NAM Summit of 1973, characterizing BRICS as a product of NAM’s ideals.
Both sides acknowledged that despite the existing strong relations, there remains significant untapped potential between the two nations.
Foreign Minister Momen urged the Algerian Finance Minister to expedite the completion of agreements concerning ‘Reciprocal Bilateral Promotion and Protection of Investment’ and ‘Avoidance of Double Taxation’. He provided an overview of Bangladesh’s socio-economic development and future prospects.
Stressing Bangladesh’s pharmaceutical exports to over 100 countries, Foreign Minister Momen suggested that Algeria could import high-quality pharmaceutical products at a reasonable cost. This suggestion also extended to the possibility of a joint venture in the pharmaceutical sector.
Additional areas of potential cooperation, including IT, ICT, defense, construction, edible oil, and agriculture, were proposed.
Both nations mutually agreed to schedule high-level visits in the coming year, further solidifying their commitment to collaborative growth.
The Algerian Finance Minister affirmed his intent to address these matters with the relevant stakeholders.
The meeting saw the presence of the Bangladesh Ambassador to Algeria, as well as officials from the Foreign Ministry, lending weight to the discussions.
