Commerce minister seeks Australian investment in solar

Commerce Minister Khandakar Abdul Muktadir has sought Australian investment in Bangladesh’s solar power generation sector to meet the growing domestic demand for electricity.

He made the call at a meeting with Australian High Commissioner in Bangladesh, Susan Ryle, at the minister’s secretariat office in Dhaka yesterday.

They discussed strengthening trade, investment, and economic cooperation between Bangladesh and Australia, according to a statement from the commerce ministry.

The minister said Bangladesh has been working to create an investment-friendly environment and is particularly encouraging foreign investment in the renewable energy sector.

He added that revitalising existing industrial enterprises, establishing new industries, and generating employment are among the government’s current priorities.

The government has been activating industrial sectors with assets worth approximately $7 billion, and making them production-oriented through private investment is a key objective. In this context, the minister invited increased Australian investment in Bangladesh’s solar power generation sector.

Ryle said trade between the two countries currently stands at around $5.14 billion, and continues to grow steadily.

She highlighted significant potential for investment in Bangladesh, particularly in renewable energy.

A high-level Australian delegation is exploring opportunities for cooperation in green energy, innovation, and technology, the high commissioner also said.

She mentioned that Australia is one of the most important destinations for Bangladeshi students, as around 28,000 of them are currently studying there.

Both sides expressed interest in expanding cooperation in trade, education and scholarships, enhancing the capacity of officials of the Ministry of Commerce, and increasing collaboration in infrastructure development.