Bangladesh in talks with UAE on seaport operations_ direct shipping line

Bangladesh is keen to utilise the United Arab Emirates's (UAE) expertise in port management for the operation of major seaports in the country_ said Foreign Minister Dr AK Abdul Momen_ who is on a four-day official visit to the UAE.

"We always look for better connectivity in South Asia and with other parts of the world because connectivity means productivity_" Dr Momen said in an exclusive interview with Emirates News Agency at the Bangladeshi Embassy in Abu Dhabi.

Ship traffic between Bangladesh and the UAE is currently routed through ports in Singapore and Ceylon_ Sri Lanka_ which takes around 40 to 42 days; a direct shipping line will help reduce it by two-thirds to around 14 days_ resulting in a leap in bilateral trade volumes_ Dr Momen added.

Bilateral trade between two countries in 2021 stood at $1.8 billion_ he revealed_ saying that a direct shipping line would help multiply it several times.

"The balance of trade was in favour of the UAE as the exports from the UAE to Bangladesh were to the tune of $1.3 billion and imports from the UAE to Bangladesh were worth $500 million_" Dr Momen said_ adding that as Bangladesh has started exporting its excess production of foods_ especially rice and vegetables_ the UAE_ as an export destination through the direct shipping line_ would benefit both countries.

Lauding that the UAE has achieved a lot of technological progress and Bangladesh can learn from it_ the foreign minister went on to say: "The UAE is very good in the management of ports. We have plenty of ports and long coastline. The UAE can share their expertise and experience with us. We are working on that."

Bangladesh government is open to deals with UAE-based companies_ who have global reputation in professional port management_ to operate those ports_ he added.

"Talks are going on in this regard between both countries based on a Memorandum of Understanding (MoU)_" he further said.

During the interview_ Dr AK Abdul Momen said that Prime Minister Sheikh Hasina is likely to visit the UAE in March.

He also added that Bangladesh is also keen to share the experience of its pharmaceutical industry with the UAE.

"We have two major sources  water and human resources. Emiratis are good at business. They are welcome to invest in Bangladesh and utilise our resources_" Dr Momen said.