The upcoming visit of Prime Minister Tarique Rahman to Malaysia is expected to mark a "significant milestone" in Bangladesh-Malaysia relations, with labour cooperation, trade expansion and investment taking centre stage.
Such is a preview expressed by Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) President Md Anwar Shahid ahead of the premier's maiden foreign trip after taking office.
Speaking to The Financial Express, Mr Shahid says the visit would be the first by the head of an elected Bangladeshi government to Malaysia since the political transition following the 2024 student-mass uprising, carrying both political and economic significance.
Md Anwar Shahid
"The visit is expected to elevate bilateral relations to a new level and pave the way for deeper cooperation in trade, investment
and manpower mobility," he says
on an upbeat note.
Labour cooperation is likely to dominate the discussions, as Malaysia remains one of the largest overseas job markets for Bangladeshi workers. Around 800,000 Bangladeshis are currently employed in the Southeast Asian nation, making a significant contribution to Bangladesh's remittance earnings.
Mr Shahid says resolving issues related to undocumented Bangladeshi workers and ensuring a more transparent, cost-effective and sustainable migration system would be among the key priorities during the visit.
He also holds the hope that the two countries would make tangible progress towards a proposed Free-Trade Agreement (FTA), noting that a memorandum of understanding (MoU) on the terms of reference (ToR) for the FTA is expected to be signed during the visit.
"The signing of the ToR MoU will be an important step towards formal FTA negotiations and could provide fresh momentum to bilateral trade and investment," he says.
Another MoU on cultural cooperation is also expected to be signed, reflecting the broadening scope of engagement between the two Muslim-majority countries.
According to BMCCI estimates, annual bilateral trade between Bangladesh and Malaysia stands at around US$3.0 billion. However, Bangladesh's exports account for only about 10 per cent of the total trade volume, resulting in a substantial trade imbalance.
"Our export basket for Malaysia remains very limited," Mr Shahid points out, stressing the need for greater export diversification.
He suggests that Bangladesh tap into opportunities in agricultural products, particularly vegetables and fresh produce, to help narrow the trade gap.
The BMCCI is also working to increase exports of Bangladeshi fruits and vegetables to the Malaysian market, he adds.
Beyond trade, Mr Shahid has identified Malaysia's growing semiconductor industry as a promising area for collaboration. The sector is expected to require around 30,000 skilled workers in the coming years, presenting opportunities for Bangladesh if it can develop the necessary workforce.
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