New Zealand has expressed interest in launching negotiations for a bilateral Free Trade Agreement (FTA) with Bangladesh, aiming to deepen trade and investment cooperation between the two countries.
The proposal was put forward by New Zealand’s Trade and Investment Minister Todd McClay during a bilateral meeting with Bangladesh Commerce Minister Khandakar Abdul Muktadir on the sidelines of the 14th WTO Ministerial Conference (MC14) held in Yaoundé, Cameroon.
Senior officials from both sides, including Commerce Secretary Mahbubur Rahman, were present at the meeting.
During the discussions, the Bangladesh side highlighted its focus on building a more business-friendly climate and expanding participation in global value chains.
The commerce minister also noted that, as Bangladesh moves towards graduation from Least Developed Country (LDC) status, the government is actively pursuing market diversification to sustain economic growth.
He informed that Bangladesh has already concluded an Economic Partnership Agreement (EPA) with Japan and is currently engaged in negotiations for similar trade deals with South Korea, Singapore and the United Arab Emirates.
The issue of Bangladesh’s potential accession to the Regional Comprehensive Economic Partnership (RCEP) was also raised, with Dhaka seeking Wellington’s support.
In response, Todd McClay acknowledged Bangladesh’s growing economic importance and assured cooperation in engaging other RCEP member states on the matter.
The New Zealand minister emphasised that a bilateral FTA would not only boost trade flows but also enhance investor confidence in Bangladesh, particularly as the country navigates its post-LDC transition.
He also accepted an invitation to visit Dhaka later this year.
Both sides reaffirmed their commitment to strengthening economic relations and exploring new avenues of collaboration.
