PM seeks French investment

Prime Minister Sheikh Hasina on Wednesday invited French investors to come up with their ventures as their investment in Bangladesh is still modest compared to its global footprint.

“French investment in Bangladesh is still modest compared to its global footprint. I invite French investors to witness first-hand the investment opportunities in Bangladesh,” she said.

Besides, Bangladesh and France have signed a Letter of Intent on defence cooperation as the two countries stated their will to further develop the defence and security component of their partnership.

“Yes, we did it. However, it relates to training and technology transfer,” Foreign Minister Dr AK Abdul Momen said.

Prime Minister Hasina this during her meeting with the business leaders of MEDEF International, the French Business Confederation, at her place of residence in Paris told the French entrepreneurs that the Investment Promotion Agency, BIDA, with directly reports to her office, will be happy to support French investors in every possible way.

“You may wish to find a local partner to make your entry easier. You would be well advised to build a partnership with Bangladesh in the long term,” she advised.

Hasina said she is sure that French investors will feel confident about the prospects for high returns on their investment.

“We would also welcome your constant feedback and suggestions,” she said, extending thanks to MEDEF for setting up a Bangladesh-France Business Council.

“We would encourage further bilateral engagements through institutional linkages. The MEDEF business mission to Bangladesh can be planned in connection with next year’s celebrations of the 50th anniversary of our diplomatic relations,” Hasina said.

Referring to her Tuesday’s talks with President Macron and the French Prime Minister, Hasina said they also agreed to take the bilateral relations to a new height.

“This should be reflected in our economic partnership as well. I look forward to your active cooperation in making that happen,” she said.

The Prime Minister said Bangladesh stands ready to welcome French business ventures to grow for both countries’ mutual benefits.

“We’re working on making Bangladesh a regional connectivity hub. Our investments in road, rail, maritime, energy and digital connectivity across the region will be a real game-changer.”

She said Bangladesh is situated at a strategic location in the Indo-Pacific to act as a bridge among major economic centres.

“We also offer one of the friendliest investment environments in the region. We remain open to sustained reforms in our legal and policy framework. Our legal regime offers sound protection to foreign investments. We’re getting ready for the policy adjustments to be made following our LDC graduation,” she added.

Earlier on Tuesday, Prime Minister Sheikh Hasina and French President Emmanuel Macron had a bilateral meeting and the two leaders agreed to strengthen dialogue and continue their cooperation in defence, particularly in the area of training, which was launched during this visit.

They committed to stepping up cooperation in the area of defence equipment based on the needs expressed and each party’s ability to respond to them, including through capacity building and potential technology transfer in this regard, according to a joint statement.

The high-level discussions covered, among other issues, elevating bilateral relations, the 50th anniversary of the establishment of diplomatic ties which both countries will celebrate next year and major international and regional issues.

Both sides recalled the historic leadership of Father of the Nation Bangabandhu Sheikh Mujibur Rahman, and Bangladesh acknowledged the valuable support of the government and people of France during the War of Liberation in 1971.

The two sides also discussed geopolitical and security issues in the Indo-Pacific region.

France and Bangladesh shared the same vision for a free, open, peaceful, secure and inclusive Indo-Pacific region, based on international law and with shared prosperity for all.

Taking note of the French and European strategies concerning the Indo-Pacific, both parties agreed to work towards promoting regional peace and stability and explore further opportunities for cooperation in maritime security and the blue economy.

Highlighting their commitment to fully observing the 1982 United Nations Convention on the Law of the Sea as well as the peaceful settlement of disputes, refraining from any threat or use of force, they stated the importance of maintaining security and freedom of navigation and overflight in all seas and oceans.

Bangladesh and France once again reaffirmed that terrorism, in all its forms and manifestations, is one of the most serious threats to global peace and security and that all terrorist acts are criminal and unjustifiable.

France and Bangladesh would like to increase their cooperation and dialogue with a view to actively contributing towards strengthening connectivity in South Asia in order to facilitate exchanges between Europe and Asia, and promote sustainable and inclusive economic growth.

France commended Bangladesh on being recommended by the United Nations to graduate from the Least Developed Country category in 2026.

Acknowledging Bangladesh’s submission of the National Plan of Action on the Labour Sector to the European Union, France stressed the need for its comprehensive implementation and encouraged Bangladesh to pursue its export-led growth and economic diversification, including by leveraging the appropriate trade preferences under the European Union’s GSP Regulations.

Both countries underlined their commitment to liberalizing and facilitating trade and investment and their commitment to the role of the World Trade Organization.

They reaffirmed their desire to strengthen long-term economic and industrial partnership, including in the sectors of agriculture, infrastructure, transport, energy and digital technology.

Taking into account the priorities expressed by Bangladesh to develop the aeronautic and aerospace sectors, both counties expressed their support to a closer cooperation and new opportunities in these sectors.

France took note of Bangladesh’s pursuit of a knowledge-based economy and both sides agreed to explore enhanced cooperation in science, technology and innovation.

France and Bangladesh reiterated the central role of the United Nations in international peace and security, and highlighted the importance of promoting and protecting human rights and fundamental freedoms in accordance with the goals and principles of the Charter of the United Nations.

Bangladesh, which is one of the main contributors to United Nations peacekeeping operations, and France, which also contributes to PKOs, agreed to maintain their cooperation in this area, including specific francophone contexts.

Both countries recalled their commitment to the objectives and principles pursued by all United Nations agencies, including Unesco, a forum in which both countries actively cooperate.

At the invitation of Emmanuel Macron, Sheikh Hasina is making an official visit to France from November 9.