DHAKA, Mar 1, 2023 (BSS) - Bangladesh is planning to set up a urea fertilizer factory in the Kingdom of Saudi Arabia (KSA) through joint-venture investment. 
 
The information was revealed at a meeting between Prime Minister's Private Sector Industry and Investment Adviser Salman F Rahman and Saudi Commerce and Media Minister Majid bin Abdullah Al Qasabi at Saudi Arabia on Tuesday, said a press release here today.
 
During the meeting, they discussed various bilateral issues, including trade and investment and setting up fertilizer factory in the KSA.
 
Salman F Rahman urged the Saudi minister to support the initiative of setting up urea fertilizer factory in Saudi Arabia. 
 
He also sought assistance for ensuring duty-free entry of 213 products from Bangladesh into Saudi Arabia.
 
In his speech, Majid bin Abdullah Al Qasabi assured Salman F Rahman to provide all sorts of support to Bangladesh in setting up the Urea fertilizer factory and duty-free access into Saudi Arabia.
 
After the meeting, Salman F Rahman met Chief Executive Officer (CEO) of the Saudi Basic Industries Corporation (SABIC) Abdul Rahman Al-Fagi.
 
During the meeting, a concept note of the proposed JV fertilizer factory was presented.
 
Abdul Rahman Al-Fagi welcomed the concept note and gave consent to take next steps to this end.