Trade bodies seek Malaysian investment

The country's apex trade body Monday requested Malaysian businessmen to invest in ICT, healthcare and tourism to help expand trade between Dhaka and Kula Lumpur. Jashim Uddin, first vice president of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) made the call while addressing a discussion with an eight-member business delegation of Federation of Malaysia Manufacturers (FMM) in the city. Tan Sri Dato Soong Siew Hoong led the Malaysian delegation. Mostofa Azad Chowdhury Babu, vice president of FBCCI and Syed Moazzam Hossain, president of Bangladesh-Malaysia Chamber of Commerce and Industry also attended the meeting. The FBCCI first vice president said the trade relation between Bangladesh and Malaysia needs to be strengthened further. He mentioned that in 2009 10 Bangladesh exported goods of $62 million to Malaysia, while imported products of $1232 million from the Southeast Asian country. He urged the business delegation to work for taking the trade volume to the highest level for mutual benefit and trade balance. Mr Hoong showed very positive gesture about bilateral trade and investment in Bangladesh. The Malaysian delegation leader also expressed his interest to invest in the Export Processing Zones of Bangladesh. Meanwhile, Dhaka Chamber of Commerce and Industry (DCCI) also held an interactive business meeting with the Malaysian delegation Monday at the chamber office. "Bangladesh and Malaysia maintain a good bilateral relation with common religion, history and culture and are the active members of D-8 and OIC," DCCI acting president TIM Nurul Kabir told the delegation. He has said the bilateral trade between the two countries is not in desired level despite there being a huge potential in trade and commerce of the two countries. He informed the delegation that the present government of Bangladesh offers attractive packages to the foreign investors with a number of incentives to invest in Bangladesh. He called upon the Malaysian entrepreneurs to invest in the labour intensive industries including RMG, textile, light engineering, electronics, agro-based products, ICT, power and infrastructure sectors of Bangladesh. He also called upon the Malaysian delegation to import Bangladeshi products like jute and leather goods, RMG, ceramics and pharmaceutical items. He invited Malaysian businessmen to invest in power, gas and water sector under PPP initiatives. He urged Malaysian government to allow entry of Bangladeshi products at Zero tariff to Malaysia. DCCI directors ASM Mohiuddin Monem and Khairul Majid Mahmud, former president Hossain Khaled, former senior vice presidents Abdus Salam and Ashraf Ibn Noor, among others, took part in the open session of the discussion.