Joerd Sjoerdsma, the Netherlands’ Minister for Foreign Trade and Development Cooperation, has stressed the importance of ensuring democratic stability and press freedom to attract foreign investment to Bangladesh. He made the remarks during a brief, one-day visit to Dhaka on Tuesday, while speaking to Prothom Alo and several other media outlets.
According to Sjoerdsma, Dutch companies want to invest more in Bangladesh, but certain non-tariff barriers need to be removed. Ensuring workers’ rights is also essential to advancing trade relations between Bangladesh and the European Union (EU). He believes Bangladesh’s economy has considerable potential.
Asked about the relationship between democracy, press freedom and foreign investment in Bangladesh, Sjoerdsma said, “If you want to have a stable business environment and if you want Dutch businesses to come to Bangladesh a stable democracy and also freedom of press are crucial. That means they know the investment will be safe. If you look at Dutch investors if you look at Dutch business people they look at the whole picture.”
Drawing on his country’s experience of press freedom, the Dutch minister said, “I think in general, in the Netherlands, we are used to free press and also press that sometimes ask very critical questions. And I may not like this as a minister, but sometimes these questions have the right basis and I really have to answer to them. The same holds true for my position in Parliament. Parliament may be critical I have to answer to them.”
Democracy, economic progress must go hand in hand
Sjoerdsma views Bangladesh’s recent political changes and the national election in February positively. He said, “We were heartened by the way the election was conducted in February to see a major transition in the society in Bangladesh. To see the rise of democratic governance and of course we've spoken about this today with various cabinet ministers including the Prime Minister and they told us that they view it's crucial to continue to implement the reforms on democratic governance.”
Sjoerdsma added, “And we've also spoken to civil society and they urged us please make sure that they follow through and I have the feeling that there's this sense of urgency that this will happen.”
“But the same is true for the economy. It's crucial to do both transitions at the same time, a transition to a full democracy, and a transition to a wealthy and prosperous economy. And I think on both sides of the road the Netherlands stands ready to be a strategic partner of Bangladesh. But, of course it also requires the political will of the cabinet of Bangladesh,” the Dutch minister said.
When asked whether he was satisfied with Bangladesh’s political and economic environment following the election, Sjoerdsma said the current situation had created many opportunities. Stability was becoming evident, he said, adding that Bangladesh had held a free and fair election and that the new government was open to business and welcoming investors.
Emphasising the need for continuity in implementing reforms, the Dutch minister said reforms could not be completed in a day. Even after they were introduced, they had to be implemented every day. This required long-term efforts and cooperation, he added.
Workers’ rights are important
Speaking about future trade relations between Bangladesh and the EU, Sjoerdsma said workers’ rights would have to be respected for the two sides to conclude a free trade agreement.
He said the Netherlands believed that reaching a free trade agreement between the EU and Bangladesh as soon as possible was extremely important, and that his country was pressing for such an agreement.
“We are moving rapidly towards a trade agreement, but we must also ensure that the remaining challenges, including non-tariff barriers, are addressed as quickly as possible,” Sjoerdsma said.