DHAKA : Bangladesh and Chile have discussed opening resident diplomatic missions in each other’s capitals as part of efforts to deepen bilateral relations and expand economic and trade cooperation.

The issue was discussed during a bilateral meeting between Foreign Minister Dr Khalilur Rahman and his Chilean counterpart Francisco Pérez Mackenna in Manila today on the sidelines of the commemorative activities marking the 50th anniversary of the Treaty of Amity and Cooperation in Southeast Asia (TAC) on Friday, said a foreign ministry’s press release here today.

During the meeting, the two foreign ministers noted the considerable potential for substantially increasing bilateral trade and agreed, in principle, to explore the possibility of a free trade agreement between the two countries.

They also discussed the import of critical minerals from Chile and prospects for expanding exports of Bangladeshi products, including readymade garments, pharmaceuticals, electrical goods and leather products, to the Chilean market.

Rahman suggested exchanges of business delegations between the two countries to identify new investment and trade opportunities and strengthen private-sector engagement.

The Chilean foreign minister also expressed his desire to visit Bangladesh soon.

The meeting reflected the two countries’ interest in strengthening diplomatic engagement while exploring new avenues for trade, investment and economic cooperation.