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Saudi Arabia to increase RMG import from Bangladesh
Nov '15
Saudi Arabia has agreed to import more readymade garments (RMG), medicine and some other quality products from Bangladesh to meet its increasing domestic needs, a Bangladeshi news agency has reported.

Saudi Finance Minister Dr. Ibrahim bin Abdulaziz Al-Assaf conveyed the decision to his Bangladeshi counterpart AMA Muhith at a meeting in Riyadh, according to a press release from the Bangladeshi Embassy in the Saudi capital.

During the meeting, the two ministers agreed to explore investment and trade opportunities through sharing experiences, funding and arranging training.

It was also discussed in the meeting that a Bangladeshi commercial bank could open a branch in Saudi Arabia, which would help promote business transactions between the two countries.

Apprising the recent initiatives and measures for social and economic development in Bangladesh, Muhith sought more funding support from the Saudi government in various projects including a project for building a fertilizer factory. He also urged his Saudi counterpart to recruit quality manpower from Bangladesh. (SH)

Fibre2Fashion News Desk – India

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