Kuala Lumpur, Malaysia (BBN)-The bilateral trade between Malaysia and Bangladesh, which has remained stable over the years, has the potential to grow.
Bangladesh is currently Malaysia’s third largest trading partner among south Asian countries, reports New Straits Times.
Deputy International Trade and Industry Minister Datuk Lee Chee Leong said as of September 2014, Malaysia’s trade with Bangladesh valued at RM3.43 billion, with imports amounted to RM284.1 billion and exports at RM3.17 billion.
“Malaysian companies’ involvement in Bangladesh can be expanded further in several potential sectors,” he said, singling out infrastructure, power generation, telecommunications, education and hospitality.
“Currently, Malaysian investment in Bangladesh is concentrated in the country’s energy and telecommunications sector,” Lee said, adding that last September, Tenaga Nasional Bhd signed a memorandum of understanding with Powertek Bhd and Bangladesh Power Development Bhd to develop a RM6 billion power plant in Bangladesh.
Speaking at the launch of the Bangladesh Showcase 2014, Lee also encouraged business community in Bangladesh to explore opportunities in Islamic finance sector and halal industry as due to Malaysia’s leadership in both areas.
“Malaysia is fast becoming an Islamic finance hub as well as halal industry hub. We invite interests from Bangladesh to explore opportunities in these sectors to facilitate trade and help diversify the range of products and services offering from our country,” he said.
Bangladesh Showcase is the third trade show organised by the Bangladesh – Malaysia Chambers of Commerce & Industry (BMMCI) that aims to reduce the bilateral trade gap between both countries.
Over 60 Bangladeshi companies from different sectors including banking, insurance, garments, infrastructure, ICT and telecomunication, are taking take part in the three-day exhibition, which will end today.
Tuesday, April 23, 2019