On 25 August 2025, the Ministry of Trade and Industry Singapore (“MTI“) issued a “Public Consultation on the Bangladesh-Singapore Free Trade Agreement (BDSFTA)” (available on the MTI website at www.mti.gov.sg), closing on 19 September 2025, and seeking feedback on:
- the priorities, opportunities, and challenges that Singapore businesses face in their trade and investment with Bangladesh; and
- issues relating to trade in goods, trade in services, investment, and government procurement (among others).
For background, Bangladesh and Singapore signed a Memorandum of Cooperation on Trade and Investment in November 2022, which sets out the scope for the deepening of Bangladesh-Singapore economic relations, including discussions on a prospective free trade agreement. In particular, the Bangladesh-Singapore Free Trade Agreement (“BDSFTA“) is expected to:
- contribute to the expansion of two-way trade and investment flows between Bangladesh and Singapore;
- make it easier for companies from both countries to do business with each other and grow their markets; and
- achieve the following aims:
- reduce tariffs, which will in turn lower the costs of exporting goods from Singapore to Bangladesh;
- improve trade processes such as customs practices to facilitate the movement of goods and services across borders;
- enhance market access between both countries, so that businesses on both sides can better tap into opportunities in both countries; and
- offer stronger protection for Singapore companies’ investments in Bangladesh, and vice versa.
The feedback provided: (i) may be incorporated into the proposed BDSFTA; (ii) would be helpful to guide the negotiating objectives of the BDSFTA; and (iii) would allow MTI to better support Singapore businesses trading with, or investing into, Bangladesh.
If you would like to submit feedback in response to the consultation or require further information or tailored advice on how your business can benefit from the prospective BDSFTA, please reach out to our Team members set out on this page.
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