The Cabinet on Tuesday approved Bangladesh’s proposal to join the “Investment Facilitation for Development Agreement (IFDA)” under the plurilateral Joint Statement Initiative of the World Trade Organization (WTO).
The decision was made at a Cabinet meeting held at the Secretariat, chaired by Prime Minister Tarique Rahman. Cabinet Secretary Nasimul Ghani told reporters that the agreement aims to facilitate foreign direct investment (FDI) in Bangladesh.
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He said the pact does not impose any new obligations regarding market access or investor-state dispute settlement. Instead, it seeks to enhance transparency in investment procedures, simplify registration and approvals, reduce unnecessary multiple applications, and maintain a database of domestic investors.
The government expects that joining the agreement will further boost Bangladesh’s international reputation as an attractive destination for foreign investment.