Dhaka urges KL to resume FTA talks

Dhaka is pressing Kuala Lumpur to resume negotiation for signing the proposed free trade agreement (FTA) between Bangladesh and Malaysia to further boost bilateral ties, sources said.

The Ministry of Commerce has written to Malaysian authority concerned through the Ministry of Foreign Affairs to start talks regarding the agreement, they added.

The two countries agreed to sign the FTA during a meeting between Bangladesh commerce minister and Malaysian trade and industry minister in January 2015.

Following the meeting, the countries formed trade negotiation committees (TNCs) to conclude the deal.

Subsequently, Bangladesh urged Malaysia to start negotiation on signing the agreement. In response to that, Malaysia opined that it was yet to be ready to resume negotiation due to the Covid-19 pandemic along with a fresh mandate from the country's newly-formed cabinet to formally start FTA talks.

A source said during the last Commonwealth Senior Trade Officials Meeting (STOM) and Commonwealth Trade Ministers Meeting (CTMM), held in London, UK on June 02-06, 2023, both sides expressed interest to resume the FTA negotiation.

Bangladesh High Commission in Malaysia is working to communicate with the Malaysian competent authority for resuming the FTA talks within a short time.

When contacted, a senior official said Bangladesh has already completed feasibility study on signing the FTA with the Muslim country.

Malaysia is an important labour destination for Bangladesh, and it would be easier to export manpower and make investment after signing the FTA.

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