Planning Minister MA Mannan on Thursday laid emphasis on expanding bilateral trade and investment with Malaysia.
The minister made the remarks while meeting with the members of the newly elected Executive Committee of the Bangladesh Malaysia Chamber of Commerce and Industry (BMCCI), led by its President Syed Almas Kabir at Planning Ministry in the city, said a press release.
In his speech, Mannan assured all possible assistance for the development of trade and investment opportunities in Bangladesh.
He thanked BMCCI President Syed Almas Kabir and other leaders for their commendable role in developing bilateral trade relations between Bangladesh and Malaysia.
“We need to encourage product diversification along with other potential export items,” he said, suggesting creating a sector-specific policy demand.
Syed Almas Kabir briefed the planning minister about the various activities and goals of BMCCI.
Many Malaysian companies have expressed interest in investing in Bangladesh's newly created Special Economic Zone (SEZ), said the BMCCI president.
He also proposed to sign FTA with Malaysia to ensure Bangladesh's interest.
He also proposed to take initiative to relocate Malaysia's Sun-Set Industries to Bangladesh.
Besides, Syed Almas Kabir informed the minister about the plans of BMCCI to organize the flagship program "Showcase Bangladesh" in Kuala Lumpur, Malaysia in September 2022.
Malaysia is the ninth largest investors in Bangladesh. By the end of June 2021, the total FDI stock of Malaysia in Bangladesh was 791.69 million US dollars.
The telecommunications sector currently tops the list; Besides, construction sector, textile, textile, chemical and pharmaceuticals are also in good position. Readymade garments account for about 70 percent of our total exports to Malaysia.
Other exportable products are vegetables, potatoes, food and beverages, shoes, spices etc. World class ceramic products that are made in Bangladesh have recently entered the Malaysian market.
The main products imported from Malaysia are mineral fuels and oils, vegetable fats and oils, machinery and mechanical equipment, plastics, chemicals, cotton, rubber and electronics.
Among others, BMCCI Secretary General Md Motaher Hoshan Khan, Joint Secretary General Rubaiyat Ahsan, Directors Jamilur Rahman, Sifat Ahmed Chaudhuri, AFM Asif, Md Mamunur Rahman, Syed A Habib, Shah Jamal Raj from Robi, Executive Secretary Hasanur Rahman Chowdhury and Senior Coordination Officer Himika Hossain were also present during the meeting.
