The New Nation - Internet Edition

UNB, Dhaka

United Arab Emirates have expressed keen interest to invest in Bangladesh's energy, tourism, health, IT and infrastructure sectors as UAE Foreign Minister Dr Sheikh Abdullah Zayed Al Nahyan held talks with Foreign Minister Dr Dipu Moni on expanding bilateral trade and economic cooperation.

Emerging from the talks, Al Nahyan told a press conference that the UAE-Bangladesh Joint Commission headed by the Finance Ministers of the two countries will meet before September to work out the investment plans and proposed projects in promising sectors.

He said the Joint Commission, which is set to meet after 17 years, will look at different projects and finalize two deals -- Avoidance of Double Taxation, and Promotion & Protection of Investment.

"We are keen in investing and in supporting power related projects like renewable energy…We're extremely eager to invest in infrastructure and agriculture," said Dr Sheikh Abdullah Al Nahyan who arrived in the city earlier in the day on a brief visit.

Current UAE investment in Bangladesh is around US$ 2.5 billion mainly in telecommunication and banking sectors. The two-way trade is US$ 250 million.

The UAE Foreign Minister said his government would encourage investors from both the public and private sectors to put their money in this country.

Foreign Minister Dipu Moni said Bangladesh sought investment in power, oil refinery, tourism, pharmaceuticals and ceramic sectors.

On recruitment of workforce from Bangladesh, Al Nahyan said UAE would recruit professionals and workers from Bangladesh after overcoming the current economic recession and they are willing to make the investment.

Presently, over 700,000 people are employed in UAE. "We're very proud of services being given by Bangladeshi workers to our development efforts," he said.

Asked about problems facing the expatriate workers, Al Nahyan said his government has already taken some steps to resolve the problems.

From now on wages of the workers will be disbursed through banking system and infrastructures are being built for accommodation of the workers.

"Our government is vigorous to solve the problems," he said.

The UAE Foreign Minister was due to leave here late yesterday night.