Bangladesh and Lithuania have identified new opportunities for cooperation in information technology, cyber security and fintech to deepen bilateral trade and investment ties.

The possibilities were discussed at a meeting between Commerce Minister Khandaker Abdul Muktadir and Lithuania’s non-resident Ambassador to Bangladesh Diana Mickevičienė at the secretariat on Sunday.

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

The commerce minister said although the volume of bilateral trade between Bangladesh and Lithuania is currently limited, there is considerable scope for expanding economic cooperation between the two countries.

He said Lithuanian technology companies could expand their operations in South Asia by leveraging Bangladesh’s rapidly growing ICT sector, skilled young workforce and growing pool of freelancers.

“Bangladesh is currently a promising destination for investment,” the minister said, adding that necessary facilities have been ensured for investors regarding repatriation of investment and profits.

He said the country offers a stable and investment-friendly environment for international investors.

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

She expressed her country’s interest in sharing its experience and technical expertise to support Bangladesh’s digital transformation, technological development and cyber security.

She also said effective partnerships between the public and private sectors of the two countries could open new avenues for technology, innovation and investment.

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

Both sides also discussed various aspects of economic prospects, investment cooperation and technology partnerships between Bangladesh and Lithuania.

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