Sweden looks to boost ties with Bangladesh

Sweden looks forward to enhancing trade with Bangladesh as the country is becoming an attractive market and investment destination, alongside the Bay of Bengal emerging as a significant part of the Indo-Pacific region, said Swedish officials.

"Not only is Bangladesh one of the world's fastest growing economies, being a strategically located and cost-competitive alternative in the Asia-Pacific region, but it also offers a substantive domestic market with a growing middle-class," Swedish officials said in a message marking the launch of Sweden Bangladesh Business Guide 2024-25 on Monday.

State Minister for Finance Waseqa Ayesha Khan attended the event at the Sweden embassy in Dhaka.

The Swedish embassy and Business Sweden jointly launched the programme as part of Sweden's long-term ambition to strengthen and expand the business and trade relationship with Bangladesh.

In a joint message, Swedish Ambassador to Bangladesh Alexandra Berg von Linde and Trade Commissioner of Sweden to India Cecilia Oskarsson said a growing urban population and a tech-savvy young workforce in Bangladesh naturally creates a growing market base for Swedish cutting-edge solutions.

"Despite global uncertainties, Bangladesh has kept attracting increasing interest as a potential key market for innovative global products and services," they said.

Bangladesh's exports to Sweden in 2023 was $625.19 million, while import from Sweden was around $60.21 million. Over 50 Swedish companies are already present in Bangladesh.

"Be it in areas of renewable energy and energy efficiency, sustainable sourcing and textiles, waste management and circularity, water conservation, digitalisation, urban planning, and smart cities, Swedish companies will continue supporting Bangladesh's path towards sustainable economic growth," the statement said.

"One of the main objectives is to strengthen Sweden's position as a prioritised partner for green and digital transition," the statement added.