Canada鈥檚 Indo-Pacific Trade Representative Paul Thoppil has said a Foreign Investment Protection and Promotion Agreement (FIPA) would play a critical role in boosting confidence among Canadian investors.
Bangladesh appreciated Canada鈥檚 DFQF market access for Bangladeshi exports and expressed optimism about the ongoing technical discussions on the FIPA and the possibility of initiating dialogue on a Free Trade Agreement (FTA) in near future.
The issues were discussed when Thoppil met Foreign Secretary Md Jashim Uddin at the Ministry of Foreign Affairs on Monday.
He was accompanied by a business delegation including representatives from Gildan, BlackBerry, Advantech, Bell Helicopter, JCM Power and Export Development Canada.
High Commissioner of Canada to Bangladesh Ajit Singh was also present.
Both sides welcomed the steady growth in bilateral trade amounting to $3 billion.
This marks Paul鈥檚 second visit to Bangladesh reaffirming Canada鈥檚 growing engagement with Bangladesh.
The meeting covered a wide range of bilateral issues in particular trade, investment, and development cooperation.
Highlighting the multipronged economic reforms by the Government, the Foreign Secretary encouraged Canadian investments in potential sectors such as ICT, infrastructure, pharmaceuticals, engineering and renewable energy.
Appreciating the government鈥檚 ongoing reforms, Paul expressed growing interest in Canadian Companies in Bangladesh.
Paul overwhelmingly appreciated the growing people-to-people connections and vibrant role of the Bangladeshi community in Canada.
On this note, the Foreign Secretary stressed the need to simplify the student visa application process to facilitate educational exchange and skills development.
The Foreign Secretary appreciated Canada鈥檚 humanitarian support for the Rohingya and called for mobilising international support for their sustainable repatriation to Myanmar.
Canada鈥檚 Indo-Pacific Trade Representative Thoppil began his four-day visit on Sunday to underscore Canada鈥檚 commitment to Bangladesh at a pivotal moment in the country鈥檚 history as it pursues democratic reforms towards a free and fair election.
During his visit, he also highlighted Canada鈥檚 engagement in the region, notably through its Indo-Pacific Strategy, and identified ways to expand trade and investment between Canada and Bangladesh.
