Malaysia and Bangladesh eye deeper trade ties
"Bangladesh has an opportunity to earn foreign exchange from Malaysia by adopting halal certification and expanding halal product manufacturing," said Mohammad Akhter Parvez, honourary consul of Malaysia
Malaysian High Commissioner to Bangladesh Mohammad Shuhada Osman observed that recent bilateral agreements between the two countries have opened up new avenues for expanding trade and strengthening the relationship when he met business leaders of the Chattogram Chamber of Commerce and Industry at the World Trade Centre in Chattogram on Monday (17 November).
Noting that Malaysia now counts Bangladesh as its second-largest trading partner outside ASEAN, the envoy mentioned that the five agreements signed during the interim government chief Dr Muhammad Yunus's visit to Malaysia in August have created new opportunities for deepening economic ties between the two countries, according to a press release.
Osman viewed the increasing Bangladeshi presence in Malaysia, including nearly 9,000 students, as a sign of stronger people-to-people ties, adding that Malaysia, with its advanced healthcare system, could be a viable destination for Bangladeshis seeking medical services abroad.
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Chamber Administrator Mohammad Nurullah Noori chaired the meeting attended by senior chamber leaders, honorary consuls, and representatives from major trade and manufacturing groups.
While appreciating the presence of a large number of Bangladeshi migrant workers in Malaysia - Bangladeshis account for 37% of expatriates in Malaysia – Noori pointed out the need to close the wide trade gap. Malaysia's exports to Bangladesh stood at 206.6 million dollars and imports from Bangladesh at 38.2 million dollars between January and September this year, he said.
He urged Malaysian investors to explore opportunities in light engineering, electronics, food processing, shipping, logistics, and shipbuilding, especially in Mirsarai, where the government is offering preferential facilities.
Honourary Consul of Malaysia Mohammad Akhter Parvez said Bangladesh has an opportunity to earn foreign exchange from Malaysia by adopting halal certification and expanding halal product manufacturing. With Chattogram's strategic location, sectors such as telecommunications, security, healthcare, manufacturing, and energy offer opportunities for joint ventures, he noted.
Speakers at the meeting called for Malaysia's support in Bangladesh's bid for ASEAN membership, easier visa processing and initiating direct flights on Dhaka–Chattogram–Kuala Lumpur routes.
