Bangladesh and Algeria have signed a memorandum of understanding (MoU) on cooperation in the hydrocarbon sector, opening up opportunities for Bangladesh to import liquefied natural gas (LNG), liquefied petroleum gas (LPG) and other petroleum products from the North African country, the foreign ministry said today.
According to a ministry press release, State Minister for Foreign Affairs-1 Humaiun Kobir, who is visiting Algeria, held a bilateral meeting with Algerian Foreign Minister Ahmed Attaf in Algiers.
Humaiun expressed satisfaction over the signing of the MoU on energy cooperation, which could facilitate imports through a government-to-government (G2G) mechanism, the release said.
The agreement also creates opportunities for the two countries to cooperate on developing refineries and LNG infrastructure, as well as exploring coal and gas fields in Bangladesh, it added.
The Algerian Petroleum Institute expressed interest in offering training and knowledge-sharing programmes for Bangladeshi engineers and technicians to develop domestic expertise and strengthen the country’s self-reliance in the energy sector.
Attaf said Algeria’s president had directed that the MoU be signed as a priority in response to Bangladesh’s energy needs, according to the release.
During the meeting, Humaiun also highlighted Bangladesh’s need to import fertiliser to support its agricultural sector. Attaf expressed Algeria’s willingness to cooperate in this area.
The Algerian foreign minister also sought Bangladesh’s experience in reviving Algeria’s textile industry and expressed interest in cooperation in pharmaceuticals, leather and textiles.
The two ministers discussed bilateral, regional and multilateral issues of mutual interest, focusing on cooperation in energy, fertiliser, agriculture, textiles, trade, commerce, education and people-to-people contacts.
They also explored ways to expand bilateral trade and investment, particularly in the energy sector, for the mutual benefit of the two countries.
Both ministers underscored the importance of holding regular Foreign Office Consultations, with the next round expected to take place in Dhaka soon, the release said.
