Bangladesh forex reserves climb to 2022 levels on remittances

Bangladesh's foreign exchange reserves have recovered to levels not seen since 2022, bolstered by increased remittances from countries like Saudi Arabia. The government anticipates a further uplift in its external finances as Malaysia prepares to reopen its labor market to Bangladeshi workers. Prime Minister Tarique Rahman's recent visit to Malaysia was described as "highly successful," with constructive discussions held on labor migration and overseas employment opportunities. Both nations committed to ensuring transparency in worker recruitment and protecting their welfare, addressing concerns over past exploitation. Additionally, discussions have begun on a free trade agreement between Bangladesh and Malaysia, signaling a deepening of bilateral economic cooperation. The government remains optimistic about restoring and improving labor migration governance with Malaysia.