Bangladesh Prime Minister Khaleda Zia is expected to sign a bilateral maritime agreement with the government of Singapore during a two-day visit to the South East Asian country on March 20. "The shipping agreement will be signed on March 21 to reduce shipping cost with a country (Singapore) that accounts for nearly 60% of our export and import," stated a senior Shipping Ministry official.

The agreement will significantly shorten the lead time for international trade, as local ships will get priority berthing and will be exempt from at least 7% of freight charges. Bangladesh has to depend heavily on Singapore for the shipment of its exportable items such as readymade garments, jute and jute products, leather and leather goods.

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