Diplomatic Correspondent: Singapore has expressed keen interest in deepening economic cooperation with Bangladesh, particularly in port management, logistics, aviation, the digital economy and capacity-building.

Chargé d’Affaires of Singapore in Dhaka Mitchel Lee made the remarks while addressing a reception marking Singapore’s 61st National Day at a city hotel on Monday.

Highlighting the growing economic ties between the two countries, Lee said bilateral trade in goods reached S$3.9 billion, equivalent to about US$3 billion, in 2025, while cumulative Singaporean foreign direct investment in Bangladesh stood at around S$3 billion, or approximately US$2 billion.

“These figures are not insignificant, and there is more scope to grow,” he said.

Lee recalled that Singapore and Bangladesh signed a Memorandum of Understanding on Trade and Investment in November 2022, providing a framework for closer economic cooperation. The agreement also envisaged a Joint Working Group that would work towards an eventual free trade agreement between the two countries.

Road Transport, Bridges, Railways and Shipping Minister Shaikh Rabiul Alam attended the reception as the chief guest. Politicians, senior civil and military officials, business leaders, journalists and members of the diplomatic community were also present.

Reflecting on Singapore’s 61 years of independence, Lee said the country was also observing the 60th anniversary of the launch of its national pledge, which is recited at the annual National Day Parade as well as in schools and government offices.

He said the pledge calls on Singaporeans to remain “one united people, regardless of race, language and religion” and to build a democratic society based on justice and equality.

According to Lee, the values of multiculturalism, democracy, justice and equality remain important for Singapore amid an increasingly turbulent global environment. He added that Singapore believes these values are also relevant to Bangladesh as the country works towards a better future.

Recalling the longstanding bilateral relationship, Lee said diplomatic relations between Singapore and Bangladesh were established in February 1972.

He noted that Bangladeshi migrant workers have traditionally been an important cornerstone of the relationship, particularly those working in Singapore’s construction and marine services sectors.

Although the number of Bangladeshi workers in Singapore is relatively small compared with some other destination countries, Singapore ranks among the important sources of remittances for Bangladesh. Citing Bangladesh Bank figures, Lee said Singapore was the 10th-largest contributing country in terms of remittances sent to Bangladesh.

He stressed, however, that relations between the two countries extend well beyond trade, investment and manpower.

Over the past two years, Singapore has undertaken a range of initiatives to promote greater understanding between the peoples of the two countries. These included talks at universities, the first Visa and Consular Networking Session, cooking workshops at the National Hotel and Tourism Training Institute, and film screenings.

Singapore also organised its first Singapore-Bangladesh Art Exhibition, featuring artists from both countries, at Alliance Française de Dhaka. Works by young Bangladeshi artists were displayed at the National Day reception.

Lee also highlighted cooperation through the Singapore Cooperation Programme, under which Singapore has shared its experience in areas including good governance and sought to strengthen people-to-people links. Singapore also brought together former participants in the programme for an SCP Alumni Dinner and donated a collection of Singaporean books to the Bangladesh National Library.

Looking ahead, Lee said his successor, Philip Ong, who was present at the reception, would work with Bangladeshi counterparts to further strengthen bilateral relations.

In a farewell note, Lee thanked Bangladesh and its people for their friendship and cooperation during his tenure in Dhaka.

He said he had developed professional relationships as well as personal friendships in Bangladesh and hoped to remain in touch after moving from the Bay of Bengal to another “Bay area” across the Pacific.

The reception provided an opportunity for diplomats, government representatives, business leaders and other stakeholders to celebrate Singapore’s national day while highlighting the expanding scope of Bangladesh-Singapore relations.