Deepening business cooperation with Malaysia
Thursday, 20 March 2008
THE inauguration of a three-day Malaysian trade fair in Dhaka is an occasion to think over what gains can arise for both Bangladesh and Malaysia from intensifying their business interactions in different fields. Malaysia is a neighbour in South East Asia which has attained the status of a semi-developed country. Its population is predominantly Muslim like Bangladesh and this being one of the strong kindred factors drawing the two countries closer. There is also a dynamic concept of South-South cooperation which essentially means the developing or semi-developed countries such as Bangladesh and Malaysia ought to increasingly trade and engage in joint ventures economic projects to generally improve their economic conditions.
Bangladesh is ideally positioned geographically and in other ways to gain a great deal by deepening business cooperation with Malaysia. Malaysia produces wide-ranging consumer goods, intermediate products and capital goods. The same are also of high or dependable quality. The really significant aspect is that sourcing their imports from outside the region is currently proving to be costlier for Bangladesh. Thus, this south east Asian country can be an effective importing source for Bangladesh to attain better bargains in terms of price and quality in the procurement of these goods. Its nearness will mean that Bangladesh will also save time from faster deliveries of goods in a comparative sense. There are many Bangladeshi products which can find sustainable markets in Malaysia provided the initiatives to that end are taken with zest and maintained until good results are obtained.
Showcase Malaysia, the fair that has been launched in Dhaka, can be a useful pioneering platform in building contacts and interests between the business communities of the two countries. Business figures who would visit the fair should consider their time well spent if looking at first hand at the many opportunities for joint-ventures between the two countries can bring them nearer to actively consider joint investment schemes. Specially, the building of infrastructures in Bangladesh on joint venture basis can be profitable for the Malaysian infrastructure builders. Bangladesh will be badly in need of infrastructures in diverse fields in the coming decades for the development of its economy. Malaysian experience, expertise and cost-efficient investments may be found as extraordinarily helpful by Bangladesh in building infrastructures.
Businesses in Malaysia generally have a favourable opinion about Bangladesh and Bangladeshis. A large number of Bangladeshis are now in Malaysia. The building sector as well as others in that country are now booming but remain dependent on foreign workers in increasing number for successfully continuing the pace of work. Bangladeshi workers who are noted for their diligence and willingness to accept competitive wages and compensations, can be a lucrative source for Malaysia to recruit workers to work in different sectors of its economy. Malaysian businesses can play the role of ambassadors of goodwill and they can lobby the government in their country to pave the way for the smooth arrival and working of a greater number of Bangladeshi workers in their country. Of course, businesses in Malaysia will stand to benefit directly from the facilitation of more Bangladeshis to take up jobs in Malaysia. It can be a way of adding to competitiveness for many Malaysian enterprises wanting the reduction of the wage components in their production costs by using the services of Bangladeshi workers in greater number.
Bangladesh is ideally positioned geographically and in other ways to gain a great deal by deepening business cooperation with Malaysia. Malaysia produces wide-ranging consumer goods, intermediate products and capital goods. The same are also of high or dependable quality. The really significant aspect is that sourcing their imports from outside the region is currently proving to be costlier for Bangladesh. Thus, this south east Asian country can be an effective importing source for Bangladesh to attain better bargains in terms of price and quality in the procurement of these goods. Its nearness will mean that Bangladesh will also save time from faster deliveries of goods in a comparative sense. There are many Bangladeshi products which can find sustainable markets in Malaysia provided the initiatives to that end are taken with zest and maintained until good results are obtained.
Showcase Malaysia, the fair that has been launched in Dhaka, can be a useful pioneering platform in building contacts and interests between the business communities of the two countries. Business figures who would visit the fair should consider their time well spent if looking at first hand at the many opportunities for joint-ventures between the two countries can bring them nearer to actively consider joint investment schemes. Specially, the building of infrastructures in Bangladesh on joint venture basis can be profitable for the Malaysian infrastructure builders. Bangladesh will be badly in need of infrastructures in diverse fields in the coming decades for the development of its economy. Malaysian experience, expertise and cost-efficient investments may be found as extraordinarily helpful by Bangladesh in building infrastructures.
Businesses in Malaysia generally have a favourable opinion about Bangladesh and Bangladeshis. A large number of Bangladeshis are now in Malaysia. The building sector as well as others in that country are now booming but remain dependent on foreign workers in increasing number for successfully continuing the pace of work. Bangladeshi workers who are noted for their diligence and willingness to accept competitive wages and compensations, can be a lucrative source for Malaysia to recruit workers to work in different sectors of its economy. Malaysian businesses can play the role of ambassadors of goodwill and they can lobby the government in their country to pave the way for the smooth arrival and working of a greater number of Bangladeshi workers in their country. Of course, businesses in Malaysia will stand to benefit directly from the facilitation of more Bangladeshis to take up jobs in Malaysia. It can be a way of adding to competitiveness for many Malaysian enterprises wanting the reduction of the wage components in their production costs by using the services of Bangladeshi workers in greater number.