Bangladesh, Denmark Sign Investment Protection Deal

November 8, 2009 7:57 p.m. EST

Dhaka, Bangladesh (AHN) - Bangladesh and Denmark have signed a bilateral investment protection agreement aiming at protecting and promoting foreign investment between the two countries.

The agreement will be an important foundation for the future cooperation between the two countries as it spells out the overall framework for bilateral private sector investments in the two countries, according to Danish Embassy website information posted on Sunday.

Industry Secretary Dewan Zakir Hossain and Danish Ambassador to Bangladesh Einar H Jensen signed the agreement on behalf of their respective countries at the ministry office on Thursday.

Industry Minister. Dilip Barua witnessed the ceremony together with Head of Asian Department, Martin Bille Hermann, Ministry of Foreign Affairs of Denmark.

"We're very proud that we have signed this agreement with the government of Bangladesh. The agreement is first of all an important signal to Danish companies who want to invest in Bangladesh. They can now feel more confident when investing in the country," Danish Ambassador Einar H. Jensen said.

Direct trade between Bangladesh and Denmark has been growing steady in recent years, with significant potentials for further business and trade between the two countries.

In 2008 exports to Denmark were around $200 million while imports from Denmark were only around $40 million, the official data showed.