Bangladesh is set to allow Ireland to invest in an economic zone, said Salman F Rahman, prime minister's private industry and investment adviser.

The announcement was made following a meeting with Simon Coveney, enterprise, trade and employment minister of Ireland, at the Bangladesh Investment Development Authority (Bida) building in Agargaon, according to a press release.

Rahman stated that a memorandum of understanding would soon be signed at the foreign minister-level of both countries, expressing optimism about an increase in trade and investment from Ireland.

Bangladesh would benefit from a collaborative approach as the government plans to send a representative from the Bida and the Bangladesh Economic Zones Authority to learn from Ireland's investment promotion strategies.

Rahman also highlighted Ireland's interest in Bangladesh's tourism sector, stating that as the country builds infrastructures, the government of the European nation has expressed readiness to cooperate.

He also noted the opening of the Irish embassy in Bangladesh reflects a positive intent to strengthen bilateral ties.

"Both countries are working to enhance bilateral trade, with a focus on medicine, IT, and tourism sectors."