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Tuesday, 23 February 2016 09:44

FBCCI chief hopes three-fold increase in trade with Malaysia

< > Newsflash Desk President of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Abdul Matlub Ahmad on Monday hoped that the trade with Malaysia would increase by three folds in two years, with efficient institutional role to this effect. Ahmad also suggested the newly elected Board of Directors of Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) to work toward enhancing the trade with Malaysia when a team of the BMCCI, led by its President Md. Alamgir Jalil, paid a courtesy call on FBCCI chief at his office. The BMCCI president in a memorandum to the FBCCI president mentioned that Bangladesh considers Malaysia as one of a major source of Foreign Direct Investment (FDI). He noted that total volume of the two-way trade between Bangladesh and Malaysia reached $1,314.60 million in 2014-2015 financial year while Bangladesh export was only $114.60 million as against Malaysia's $ 1.2 billion export to Bangladesh. "It is clear that Bangladesh has been significantly lagging behind in the export department that has widened its trade gap with Malaysia. We need to take steps to reduce this trade gap by encouraging more Bangladesh exports to Malaysia," he said. Jalil said BMCCI are taking various initiatives to enhance business and investment in Bangladesh to narrow down the existing trade imbalance between the two countries. He informed that BMCCI is going to organise the Fourth Showcase Bangladesh 2016 in conjunction with SIMDEX'16 in Kuala Lumpur, Malaysia on 17-19 May 2016 at Kuala Lumpur Convention Centre (KLCC). The key objective of the Showcase Bangladesh is branding Bangladesh which BMCCI believes will enhance the image of Bangladesh as a reliable supplier, trade partner, and to provide a good networking platform between the business communities of the two countries. < >
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