Bangladesh trade, investment summit in Kuala Lumpur in Mar

BMCCI plans to organise confce to attract more FDI from Malaysia, cut trade gap

January 05, 2018 00:00:00

Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) is on a move to organise 'Bangladesh Trade and Investment Summit' in Kuala Lumpur, Malaysia, in March to boost Malaysian investment in Bangladesh and bridge the trade gap between the two countries, reports UNB.

Newly-elected members of the Board of Directors of Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI), led by its President Syed Moazzam Hossain, met Executive Chairman of Bangladesh Investment Development Authority (BIDA) Kazi M Aminul Islam in Dhaka on Thursday and discussed the plan.

The BMCCI president informed that the Bangladesh High Commission in Malaysia is going to organise Bangladesh Festival on March 22-23, 2018.

In conjunction with this, the BMCCI wants to arrange Bangladesh Trade & Investment Summit in cooperation with Bangladesh Investment Development Authority (BIDA).

Syed Moazzam in a memorandum submitted to the Executive Chairman mentioned that Bangladesh considers Malaysia as one of the major sources of Foreign Direct Investment (FDI).

"Malaysia is also one of the largest investors in Bangladesh," he said adding that Bangladesh significantly lags behind in export, which has widened the trade gap between the two brotherly countries.

Syed Moazzam said further steps are essentially needed by encouraging more exports from Bangladesh to Malaysia to reduce this trade gap.

He said 'economic diplomacy' is a must to increase trade and investment between the two countries leading to the relocation of Malaysian Sunset Industries to Bangladesh taking advantage of cost-effective production and export to other developing and developed nations.

The BMCCI chief said Bangladesh will be greatly benefited with the job opportunities it will create improving the economy and standard of living of the nation.

The executive chairman gave a patient hearing and assured the delegation of providing all possible support to increase Bangladesh's export to Malaysia as well as attract investment to Bangladesh.

He thanked the BMCCI leaders for their appreciable role in promoting bilateral trade relation between Bangladesh and Malaysia, and assured them of his organisation's all-out support to all BMCCI activities.

Deputy Director Md Shah Alam from BIDA and BMCCI Vice President Raquib Mohammad Fakhrul, Secretary General Shabbir Ahmed Khan, Director Md Abul Hossain and Secretary Hasanur Rahman Chowdhury were present, among others.