Bangladesh has huge potential to increase export goods and skilled service to Malaysia through setting up time befitting products upgradation and training for skills development.
This information was revealed at a meet-the-press of Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI), held in a hotel in Bonani on Tuesday.
President of BMCCI Shabbir Ahmed Khan, senior vice président Mdr. Anowar Shahid, Secretary Mdr. Motaher Hossain Khan spoke at the meet the press.
The BMCCI president said that the Malaysian halal products market will grow to around US$ 113 billion by 2030. Bangladesh can export around $13billion in Malaysia through improvement of halal products here.
But Bangladesh lagged behind in the certification of halal products, not Islamic Foundation or BSTI having compliance to certification of halal products, he said.
“The bilateral trade between Bangladesh and Malaysia decreased in the last few years. As a result, Bangladesh export to Malaysia decreased from $375 million to $300 million and Malaysian export to Bangladesh decreased from $5billion to $3billion annually,” he pointed out.
The recent visit of the Chief Adviser Professor Muhammad You US in Malaysia increased the potential of increasing trade between the two brotherly nations, he said.
BMCCI president Shabbir said that Malaysia required 60,000 talent (Engineers) by 2030 to strengthen their semiconductor and manufacturing sector. Of which only 15000 engineers can be managed from their domestic sources, the rest 45,000 would be hired from Asian countries.
Bangladesh can export skilled talented engineers to Malaysia by providing quality education, he said.
Currently, Malaysia exported goods worths of $121 billion, which they planned to increase in 3 fold by 2030, so the country required huge manpower in manufacturing sectors.
The BMCCI has also expressed satisfaction of the recent visit of professor Younus in Malaysia and signing MoUs.
The BMCCI signs landmark MoUs with MIMOS and ASEM to advance semiconductor innovation and talent development, said Shabbir.
The Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) is pleased to announce a historic Memorandum of Understanding (MoUs) signed in Malaysia.
This the first time a G2B MoU had been signed and exchanged with Malaysia in 53 years of diplomatic relations marking a transformative step in strengthening bilateral cooperation in Semiconductor technology, innovation, and talent development.
The BMCCI has been dedicatedly strengthening bilateral trade and investment between Bangladesh and Malaysia for over two decades. Through strategic trade promotion initiatives, high-level networking, and collaborative programs, BMCCI has built a strong platform to foster cooperation, attract investment, and explore new opportunities for both nations.
Despite Bangladesh’s primary footprint in the semiconductor industry, BMCCI recognizes the sector’s transformative potential for economic diversification, technological advancement, and global market integration.
The global semiconductor market is projected to exceed $3 trillion by 2030 as per various global research institutions, and Bangladesh cannot afford to remain on the sidelines of this high-value, innovation-driven ecosystem.
