Bangladesh, Lithuania vow to stronger cooperation in trade, investment

Bangladesh and Lithuania vowed to strengthen bilateral relations during the 2nd Foreign Office Consultations (FOC) between the two countries held in Dhaka on Thursday.

M Nazrul Islam, secretary bilateral (East & West) and Vidmantas Verbickas, vice-minister for foreign affairs of Lithuania led their respective delegations during the meeting, said a press release.

On the Bangladesh side, representatives from Ministry of Commerce, Invest Bangladesh, Ministry of Expatriates and Welfare, and Ministry of Posts, Telecommunications and Information Technology participated in the consultations.

At the outset of the consultation, a memorandum of understanding (MoU) on the Foreign Office Consultation (FOC) between Bangladesh and Lithuania was signed by the heads of delegations of both the sides.

During the meeting, both the delegations discussed the entire gamut of bilateral relationship between Bangladesh and Lithuania. They attached high priority to recalibrating and expanding the relations between Bangladesh and Lithuania.

They stressed to further deepen the political cohesion and proposed organising reciprocal high level visits including foreign ministers.

On bilateral trade, investment, and economic cooperation between the countries, both sides agreed to encourage more private sector interactions and exchanges of business delegations to realise the potential.

Bangladesh highlighted the Lithuanian delegation on Bangladesh’s global leadership in key manufacturing sectors, including ready-made garments (RMG), jute and jute products, and pharmaceutical industry.

It invited Lithuanian investors to explore the investment friendly climate in special economic zones in Bangladesh and urged for early conclusion a MoU between the apex chambers of both the countries.

Bangladesh invited an exploratory mission of the Lithuanian private sector.

Both Bangladesh and Lithuania emphasised on ICT cooperation, digital governance, interoperability, e-ID System, secure data exchange, innovation and business partnership.

Lithuania expressed their readiness to extend support in e-Governance in Bangladesh. The delegations focused on expanding cooperation in information technology, e-registration, e-governance, financial technology (FinTech), GovTech, cloud services, data services, cyber security, e-transportation, digitisation of transport system, artificial intelligence, innovative technologies, high tech medical device systems, pharmaceuticals and biotech sectors and so forth.

Lithuanian vice-minister for foreign affairs highlighted the potential of Lithuania in these specialised sectors and expressed Lithuanian keen interest in expanding cooperation and collaboration with Bangladesh, which is a rapidly growing digital economy.

Lithuanian delegation further mentioned that many Lithuanian companies and investors in digital fields are eager to explore opportunities and invest in Bangladesh and to collaborate with Bangladeshi counterparts.

Bangladesh and Lithuanian delegates also discussed possible cooperation in employment opportunities. Bangladesh highlighter her growing pool of skilled manpower including IT professionals, engineers, electricians, plumbers, and healthcare workers.

Both sides discussed for enhanced cooperation on skilled manpower migration from Bangladesh to Lithuania under EU’s Talent Partnership programme for ICT, care giving, construction, hospitality and tourism, agriculture and agro-processing sectors.

Lithuania expressed their optimism in the matter on the basis of G2G mechanism and in regular and legal channels.

The two countries also emphasised of wider people-to-people bridge including cooperation in education and sports, exchanges of students, youths, tourists, and cultural troupes and employment opportunities of highly skilled and semi-skilled professional workforce from Bangladesh to Lithuania.

The Lithuanian vice-minister mentioned that in the recent years the number of Bangladeshi students in Lithuania has increased over four-folds and currently around 1200 students from Bangladesh have been studying in Lithuanian Universities and he stressed on regular and legal pathway for students mobility.

The delegations also discussed and agreed to conclude at the earliest a few other bilateral instruments regarding cooperation in areas such as agriculture, trade and economic cooperation, cultural cooperation, tourism promotion, promotion and protection of investments, and cooperation in the fields of industries.

Both Bangladesh and Lithuania agreed to deepen regional and global coordination and to reaffirm the close coordination and mutual support across international platforms, including the UN. Lithuanian vice-minister congratulated the president of the 81st United Nations General Assembly (UNGA) Khalilur Rahman and vowed to support him in discharging his responsibilities.

Lithuania, the upcoming EU Presidency during January-June 2027, expressed optimism to extend their possible support towards matters of Bangladesh interest in the EU.

They also exchanged views on critical regional and global developments. Lithuania vowed to extend support to Bangladesh in international forums on matters related to Rohingya repatriation. They also vowed to utilise the geo-strategic position of Lithuania in Baltic Region and Bangladesh in the South and Southeast Asia as a unique opportunity to promote cooperation, stability and inter-regional connectivity.

Bangladesh and Lithuania agreed to celebrate the 35th anniversary of diplomatic relation during 2027 in a befitting manner to highlight the achievements and to vow strengthening bondage of friendship and engagement in the years ahead.

The delegations noted that the 2nd consultation has laid a solid foundation for the future engagements in different areas of cooperation and partnership between the two friendly countries. They decided to hold the 3rd round of the Foreign Office Consultations in Vilnius at a mutually convenient schedule.