Dhaka, Bangladesh (BBN)- Bangladesh and Portugal have agreed to conclude an agreement on avoidance of double taxation between the two countries to create the necessary framework.

The agreement came at a bilateral meeting between Portuguese Foreign Minister Luis Amado and Bangladesh Foreign Minister Dipu Moni held in Lisbon on Friday.

The two ministers discussed all matters of mutual interest and agreed to work together to translate the excellent political level of understanding into concrete trade and economic relations, according to message received in Dhaka on Saturday.

Bangladesh foreign minister invited Portuguese investors to avail the incentives extended to foreign investors in Bangladesh. Amado agreed that investment in various sectors in Bangladesh with the focus to export to Europe could be mutually beneficial.

Dipu Moni stated that Bangladesh-EU relations are growing fast and requested her Portuguese counterpart to support Bangladesh’s causes within the EU.

The two ministers discussed the imperative of making the EU rules of origin requirements flexible so that Bangladesh can utilize the duty free quota free facility.  

The Bangladesh foreign minister requested her counterpart to expedite the process of regularization of Bangladeshi workers.

The two ministers agreed to have a framework for consultation among the foreign ministries.

Bangladesh foreign minister invited Luis Amado to pay a visit to Dhaka. The Portuguese minister gladly accepted the invitation and expressed his desire to visit Dhaka soon.

Bangladesh foreign minister is in Lisbon to attend a ministerial meeting on mobilization of financial resources for least development countries (LDCs) going to be held on 2-3 October 2010.

BBN/ANS/AD-02Oct10-11:43 pm (BST)