Bangladesh and Indonesia have signed a memorandum of understanding (MoU) on cooperation between the two countries in the energy sector. 

A separate bilateral MoU on agricultural cooperation between the two countries was also signed.

Foreign Minister Dr AK Abdul Momen and his Indonesian counterpart Retno Marsudi in Jakarta signed the MoUs on Monday (5 September).

Bangladesh urged Indonesia to ease the market access for Bangladeshi readymade garment products in Indonesia. 

While the energy-sector MoU aims at promoting long-term sale and delivery of the conventional form of energy to and developing new and renewable energy sources and power plants in Bangladesh, the agriculture one is intended to foster collaboration in producing, marketing, promoting technology transfer and exchange of best practices in the field of agriculture, said the Ministry of Foreign Affairs on Tuesday. 

Expressing his satisfaction over the recent increase in bilateral trade volume between the two countries surpassing the three-billion-dollar mark, Dr Momen noted the stark imbalance between Bangladesh's import and export volumes. 

The gap can only be reduced by promoting the export of Bangladeshi products to the Indonesian markets, especially the ones that Bangladesh has a competitive advantage in, he said. 

Recognizing Indonesia as an important trade partner of Bangladesh in the ASEAN region, Momen said there was great potential to further enhance bilateral trade and investment, given the complementary strengths and resources. 

He expressed his hope that the bilateral Preferential Trade Agreement between the two countries would be finalized soon.

The two foreign ministers discussed various aspects of the bilateral relationship between the two countries, including cooperation in trade and investment and collaboration between the two countries in the international forums, Bangladesh's bid to become a sectoral dialogue partner of ASEAN and the issue of the repatriation of the forcible displaced Myanmar nationals (the Rohingyas) temporality sheltered in Bangladesh.

Foreign Minister Marsudi underscored the meteoric socio-economic development under the able leadership of Prime Minister Sheikh Hasina. 

Noting that Bangladesh and Indonesia enjoy cultural similarity and a historical bond the the people-to-people level, she emphasized exploring new avenues of collaboration and partnership to build a stronger, more vibrant relationship between the two great nations. 

The ministers stressed the potential of further enhancing collaboration to ensure energy and food security.

Dr Momen is now visiting Jakarta to accompany President Mohammed Shahabuddin as the latter, at the invitation of President Joko Widodo of Indonesia, participating in the 43rd ASEAN Summit and the 18th East Asia Summit – two grand events attended by top leaders from the Southeast Asia region and beyond.