DCCI seeks Malaysia's support to boost Bangladesh exports to ASEAN

Dhaka Chamber of Commerce and Industry (DCCI) has sought Malaysia's support in facilitating exports of Bangladeshi products and services to the ASEAN region, while urging Malaysian entrepreneurs to invest in Bangladesh to tap its large domestic market and regional export opportunities.

DCCI President Taskeen Ahmed made the call at separate bilateral trade and investment discussions with the National Chamber of Commerce and Industry of Malaysia (NCCIM) and the Federation of Malaysian Manufacturing (FMM) in Kuala Lumpur on Friday and Saturday, said a press release.

At the "Malaysia-Bangladesh Business Forum: Bridging Business and Building B2B Partnership", organised by NCCIM, Taskeen sought Malaysia's support for expanding exports of Bangladeshi readymade garments, pharmaceuticals, electronics, IT-enabled services, jute and jute products and food products to ASEAN countries.

He also called on Malaysian entrepreneurs to invest in Bangladesh, highlighting opportunities to serve the country's large domestic market and use Bangladesh as a base for expanding Malaysian exports to other South Asian markets.

NCCIM President Norsyahrin bin Hamidon said Bangladesh is one of Malaysia's important trade partners in South Asia and stressed the importance of such business engagements in expanding bilateral trade and investment.

He said Malaysia currently exports mainly petroleum products to Bangladesh while there is considerable scope for increasing the presence of Malaysian-made products in Bangladesh's growing middle-class consumer market.

DCCI Senior Vice President Razeev H Chowdhury presented a keynote paper on Bangladesh's trade and investment potential at the forum.

At the "Strategic Forum on Malaysia-Bangladesh Business & Trade Opportunities", organised by FMM on Friday, FMM President Jacob Lee Chor Kok said greater private-sector engagement could help take bilateral economic relations to a new level and open up new areas of cooperation.

He said increased interaction between businesses of the two countries could contribute to strengthening bilateral trade and investment ties.

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Lee also acknowledged the contribution of Bangladeshi workers to Malaysia's economic development, saying Bangladeshi workers have provided skilled, hardworking and quality manpower to various sectors of the Malaysian economy.

He noted that workers returning to Bangladesh after gaining skills, experience and specialised knowledge in Malaysia could contribute to the country's economic development and industrialisation.

Bangladesh High Commissioner to Malaysia Manjurul Karim Khan Chowdhury, Senior Director of the Asia-Pacific Economic Cooperation and Regional Groupings Division of Malaysia's Ministry of Investment, Trade and Industry (MITI) Dr Rashidi Said and Director of the Central, West, South Asia and Africa Section of the Malaysia External Trade Development Corporation (MATRADE) Naim Abdul Rahman, among others, spoke at the event.

Meanwhile, DCCI and FMM signed a memorandum of understanding (MoU) to further strengthen cooperation in bilateral trade and investment.

DCCI President Taskeen Ahmed and FMM President Jacob Lee Chor Kok signed the MoU on behalf of their respective organisations.

Entrepreneurs from Bangladesh and Malaysia also participated in around 70 business-to-business (B2B) matchmaking sessions, exchanging information on business and investment opportunities and exploring potential areas of cooperation.