Commerce minister urges Lithuania to invest in Bangladesh

Commerce Minister Khandakar Abdul Muktadir on Sunday urged Lithuanian technology companies to explore investment and business opportunities in Bangladesh's rapidly expanding ICT, fintech and other technology-driven sectors.

He made the call when Lithuanian non-resident Ambassador to Bangladesh Diana Mickeviciene met him at the Ministry of Commerce at the Secretariat, said a press release.

Commerce Secretary Md Ataur Rahman Khan was present at the meeting.

Muktadir said Bangladesh and Lithuania have significant scope to expand bilateral trade and investment although the existing volume of trade between the two countries remains limited.

He particularly highlighted Bangladesh's rapidly growing ICT sector, skilled young workforce and strong pool of freelancers, saying Lithuanian technology companies could utilise these resources to expand their operations in Bangladesh and gain access to the wider South Asian market.

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"Bangladesh is now a promising destination for investment," the minister said, adding that necessary facilities have been ensured for repatriation of investment and profits.

He said Bangladesh is providing a stable and investment-friendly environment for international investors and urged Lithuanian businesses to take advantage of the emerging opportunities.

During the meeting, the two sides discussed ways to strengthen bilateral trade, investment cooperation and partnerships in technology-oriented sectors, including ICT, cybersecurity and fintech.

Ambassador Diana Mickeviciene said Lithuania is a global leader in laser technology, GovTech and fintech services.

She expressed her country's interest in sharing expertise and technological experience with Bangladesh to support its digital transformation, technological development and cybersecurity capabilities.

The Lithuanian ambassador also emphasised the importance of building effective partnerships between the public and private sectors of the two countries, saying such cooperation could create new opportunities in technology, innovation and investment.

The meeting also stressed the need for prompt measures to expand bilateral trade, increase business-to-business contacts and undertake joint initiatives in technology-driven sectors.