Bangladesh is keen to establish a direct shipping line with UAE: Foreign Minister

Abu Dhabi, TGO: Bangladeshi Foreign Minister revealed that the prime minister is likely to visit the UAE next month.

Bangladesh is keen to establish a direct shipping line with the UAE, which will reduce the existing navigation time by two thirds and pave the way for exponential growth in bilateral trade.

AK Abdul Momen, Foreign Minister of Bangladesh, who is on a four-day official visit to the UAE, added that Bangladesh is keen to utilise the UAE’s expertise in port management for the operation of major seaports in the country.

Momen said, “We always look for better connectivity in South Asia and with other parts of the world because connectivity means productivity.”

Cut navigation time to 14 days

He pointed out that 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.

The 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 US$1.3 billion and imports from the UAE to Bangladesh were worth $500 million, the minister explained.

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, Momen said.

Operation of Bangladeshi seaports

The UAE has achieved a lot of technological progress and we can learn from it, the top diplomat pointed out.

“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,” Momen said.

Bangladesh has three large seaports in Chittagong, Payra and Mongla, and many other small ports. Bangladeshi 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).”