This was said by Prime Minister Peter O'Neill after a courtesy call from the Bangladesh High Commissioner to Papua New Guinea, Nazmul Quaunine.
O'Neill said Bangladesh shared similar developmental challenges to Papua New Guinea and there were lessons that could be learned from these experiences.
The Prime Minister also noted that the two countries are affected by a number of the same global political issues and should work closer together in international forums.
"Bangladesh is a developing country that is active in many of the same sectors as Papua New Guinea, and we have the opportunity to share experience and encourage greater investment between our countries.
"This includes agriculture, fisheries, forestry products and also in oil and gas."
O'Neill said that PNG and Bangladesh should be united in dealing with global issues such as climate change.
"Bangladesh, Papua New Guinea and countries in similar positions must continue to speak with one voice at the United Nations and other global forums.
"Bangladesh is a country of around one hundred and seventy million people who are very exposed to the risks of climate change, so we must work together on this issue."
O'Neill acknowledged the Bangladesh citizens who are working in PNG in fields such as medicine and engineering.
"We thank the professionals who have come to work in our country for their contribution they make to healthcare, and in the delivery of major developments such as the LNG projects," O'Neill said.