To make relationship between Bangladesh and Malaysia stronger, speakers at a summit on Thursday suggested to consider tax incentives in the short run and to reduce trade barriers and implement FTA to help trade relations grow even stronger.
The recommendations were made in the discussion titled “Showcase Bangladesh 2021: Bangladesh-Malaysia Investment Summit”, ointly organised by Standard Chartered and Bangladesh Investment Development Authority (BIDA).
Tipu Munshi, Minister for Commerce, Government of the People’s Republic of Bangladesh, attended the event as chief guest, while Salman Fazlur Rahman, Private Sector Industry & Investment Adviser to the Prime Minister, Government of the People’s Republic of Bangladesh, was present as guest of honour. Md. Sirazul Islam, Executive Chairman, Bangladesh Investment Development Authority, delivered the keynote speech.
The virtual forum showcased the partnership potential between Bangladesh and Malaysia and highlighted the emerging strategic opportunities in a shifting global landscape. Delegates representing public and private sectors, policymakers, investors, bankers and the diplomatic communities of both nations were in attendance.
Also present was MMd Golam Sarwar, High Commissioner of People’s Republic of Bangladesh to Malaysia; MsHaznah Md Hashim, High Commissioner of Malaysia to Bangladesh; Datuk Md Nor bin Ali, Chief Investment Officer, Edra Energy; Mahtab Uddin Ahmed, Chief Executive Officer, Robi Axiata; Ms. Rupali Chowdhury, President, FICCI. Naser Ezaz Bijoy, Chief Executive Officer Bangladesh and Abrar A. Anwar, Chief Executive Officer Malaysia, represented Standard Chartered.
Commerce MInister Tipu Munshi, said, “Relationship between Malaysia and Bangladesh are characterized by a number of complementarities. It is time to take advantage of these complementarities and begin our respective journeys to become high income economies. I believe this summit will help cement this bilateral relationship to greater heights.”
Mohammad Sirazul Islam, Executive Chairman, Bangladesh Investment Development Authority (BIDA) said, “The relationship between our two nations is based on the spirit of long-term friendship. Malaysia has been one of the first to recognise our country from the beginning.”
He added, “Bangladesh has bilateral and international treaties which we have signed with Malaysia and both governments are actively considering FTAs which will definitely boost bilateral trade between the nations.”
Haznah Md. Hashim, High Commissioner of Malaysia to Bangladesh said, “In term of the close economic relations, our investment in Bangladesh cumulates to more than 3 billion USD on various sectors like telecommunication, infrastructure education and so on. To make this already established relationship even stronger, I would suggest the consideration of tax incentives in the short run and to reduce trade barriers and implement FTA to help trade relations grow even stronger.”
Naser Ezaz Bijoy, Chief Executive Officer, Standard Chartered Bangladesh said, “International investors have an excellent track record of operating in Bangladesh and are recognised as the leading taxpayers in sectors such as Telco, Insurance, Financial Sector, and FMCG.
