Kuala Lumpur for stronger trade ties with Dhaka

Deputy Minister for International Trade and Industry (MITI) of Malaysia Dr Ong Kian Ming on Thursday said Malaysia will continue working closely together with the Bangladesh government to forge stronger cooperation, particularly in trade and investment relations, reports BSS.  “The Malaysian entrepreneurs have a strong experience on housing and infrastructure development. They can take the opportunities of Bangladesh’s recent economic growth as huge infrastructure development works are ongoing in the country,” he said.

The Malaysian deputy minister made the observation while addressing the inaugural session of the ‘Showcase Bangladesh-Go Global’ at the Royale Chulan Hotel in the city. Bangladesh Commerce Minister Tipu Munshi addressed the function as the chief guest. Bangladesh Malaysia Chamber of Commerce and Industry (BMCCI) organized the event in collaboration with the Bangladesh High Commission in Kuala Lumpur and it was supported by the Malaysia South-South Association (MASSA), Malaysia External Trade Development Corporation (MATRADE) and Bangladesh economic Zones Authority (BEZA).

Dr Ong Kian Ming said Malaysia and Bangladesh are members of the groups of eight developing countries (D-8). “Hence, I believe that there are vast opportunities between both countries in deepening economic and trade corporations,” he added. In 2018, he said, Bangladesh was Malaysia’s 3rd largest trading partner among the D-8 member states with a total trade of US$2.37 billion, after Indonesia and Turkey.

The Malaysian minister said the halal industry has been receiving great interest and investments within this region as well as from countries in Europe and East Asia. “Since Malaysia is one of the global leaders of the halal industry, hence, I would like to encourage companies from Bangladesh to continue participating in the Malaysia International Halal Showcase (MIHAS) which is an important event showcasing Halal services and products,” he added.

He said Malaysia is committed to continuously engage stakeholders at various levels and remain pro-business with prudent and pragmatic policies to create a conducive business environment. In this regard, he welcomed constructive engagements from the private sector, particularly from BMCCI members. He assured Bangladesh’s business community that his ministry will continue to open its doors for constructive dialogue and collaboration with the business community. Dr Ong Kian Ming urged private sector in both the countries to deepen trade and investment relations among them.