Written by The Banking Post
Bangladesh has called on Switzerland to step up investment in its service sector and back a proposed extension of the country’s least developed country (LDC) graduation timeline, as Dhaka looks to deepen bilateral economic ties.
The issues came up during a meeting between Commerce Minister Khandaker Abdul Muktadir and Swiss Ambassador Reto Renggli at the Secretariat on Sunday, where both sides discussed ways to expand trade, investment and cooperation.
The minister highlighted opportunities in Bangladesh’s growing service sector, saying increased Swiss investment could benefit both economies. He also sought Switzerland’s support for a three-year extension to Bangladesh’s LDC graduation process.
Officials said Bangladesh continues to enjoy duty-free access to the Swiss market under the Generalised System of Preferences (GSP), with exports exceeding $1 billion annually—dominated by garments.
Pointing to Bangladesh’s expanding middle class, the minister said competitively priced Swiss products could find a larger market. He also identified pharmaceuticals, leather goods, light engineering and shipbuilding as promising sectors for further investment.
“Better engagement between businesses and chambers of both countries will help unlock trade potential,” he said.
The Swiss ambassador acknowledged a significant trade imbalance and stressed the need for stronger collaboration to address it. “There is scope to expand both trade and investment,” he noted.
Bangladesh imports machinery, electronics, pharmaceuticals and agricultural equipment from Switzerland, while Swiss development assistance to Bangladesh has exceeded $1.3 billion, alongside contributions through international financial institutions.
Officials said both sides expressed optimism that closer cooperation and targeted investments could help narrow trade gaps and strengthen long-term economic relations.
