Staff Reporter :
Business leaders on Wednesday urged the government to sign a Free Trade Agreement (FTA) with Malaysia to boost trade and economic ties between Dhaka and Kuala Lumpur.
“We must work for a greater economic and trade cooperation with Malaysia, and a Free Trade Agreement between the two countries could be a
catalyst in this regard,” Mahbubur Rahman Sumon, Secretary General of Greece-Bangladesh Chamber of Commerce and Industry, told The New Nation yesterday.
He added: “It will benefit our exporters through the preferential treatment and market access to Malaysia.”
Mahbubur Rahman Sumon said the Malaysian authorities have already shown keen interest in signing a FTA with Bangladesh to explore their trade and investment opportunities here.
The total volume of the two-way trade between Bangladesh and Malaysia reached US$ 1,314.60 million, according to the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI).
Bangladesh’s export is only $114.60 million against Malaysia’s $ 1.2 billion export to Bangladesh for the fiscal year 2014-2015.
“Bangladesh considers Malaysia as one of major sources of Foreign Direct Investment (FDI) with increasing volume of bilateral trade. The country has been significantly lagging behind in the export department that has widened its trade gap with Malaysia,” Md Alamgir Jalil, President of BMCCI told The New Nation on Wednesday
“We need to take steps to boost our exports to Malaysia. Signing a FTA with Malaysia can help increase our exports manifold narrowing down the existing trade gap between Dhaka and Kuala Lumpur,” he added.
He also pushed for a closer cooperation between the two countries in various fields so that entrepreneurs from Bangladesh and Malaysia could achieve a win-win situation.
“A closer tie with Malaysia could also help increase Bangladesh’s manpower export to the country,” he added.
Business leaders on Wednesday urged the government to sign a Free Trade Agreement (FTA) with Malaysia to boost trade and economic ties between Dhaka and Kuala Lumpur.
“We must work for a greater economic and trade cooperation with Malaysia, and a Free Trade Agreement between the two countries could be a
catalyst in this regard,” Mahbubur Rahman Sumon, Secretary General of Greece-Bangladesh Chamber of Commerce and Industry, told The New Nation yesterday.
He added: “It will benefit our exporters through the preferential treatment and market access to Malaysia.”
Mahbubur Rahman Sumon said the Malaysian authorities have already shown keen interest in signing a FTA with Bangladesh to explore their trade and investment opportunities here.
The total volume of the two-way trade between Bangladesh and Malaysia reached US$ 1,314.60 million, according to the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI).
Bangladesh’s export is only $114.60 million against Malaysia’s $ 1.2 billion export to Bangladesh for the fiscal year 2014-2015.
“Bangladesh considers Malaysia as one of major sources of Foreign Direct Investment (FDI) with increasing volume of bilateral trade. The country has been significantly lagging behind in the export department that has widened its trade gap with Malaysia,” Md Alamgir Jalil, President of BMCCI told The New Nation on Wednesday
“We need to take steps to boost our exports to Malaysia. Signing a FTA with Malaysia can help increase our exports manifold narrowing down the existing trade gap between Dhaka and Kuala Lumpur,” he added.
He also pushed for a closer cooperation between the two countries in various fields so that entrepreneurs from Bangladesh and Malaysia could achieve a win-win situation.
“A closer tie with Malaysia could also help increase Bangladesh’s manpower export to the country,” he added.
