Dhaka Chamber of Commerce & Industry (DCCI) has sought Malaysia’s support to expand Bangladeshi exports into Southeast Asia, pitching the country as a gateway to the Association of Southeast Asian Nations (ASEAN) market while seeking more Malaysian investment in Bangladesh.
The proposal was made as a visiting DCCI business delegation held separate trade and investment discussions with the National Chamber of Commerce & Industry of Malaysia (NCCIM) and the Federation of Malaysian Manufacturing (FMM) in Kuala Lumpur on 25 and 26 September.
According to a DCCI press release issued on Saturday, its President Taskeen Ahmed identified readymade garments, pharmaceuticals, electronics, information technology-enabled services, jute and jute products, and food as sectors with potential for greater access to ASEAN markets through Malaysia.
At the same time, DCCI urged Malaysian businesses to invest in Bangladesh, using its domestic market as well as its position as a base for reaching other South Asian markets.
The discussions come as business groups from the two countries seek to broaden commercial ties beyond existing trade patterns and build more direct links between companies.
NCCIM President Norsyahrin bin Hamidon described Bangladesh as one of Malaysia’s important trading relationships in South Asia and saw scope for Malaysian manufacturers to increase their presence in Bangladesh.
Malaysia currently primarily exports petroleum products to Bangladesh, according to the statement. Hamidon pointed to Bangladesh’s large and growing middle-class consumer market as an opportunity for Malaysian-made goods.
DCCI Senior Vice-President Razeev H Chowdhury presented Bangladesh’s trade and investment opportunities at the Malaysia-Bangladesh Business Forum organised by NCCIM.
Manufacturing was another focus of the delegation’s visit.
At a separate Strategic Forum on Malaysia-Bangladesh Business & Trade Opportunities organised by FMM, its President Jacob Lee Chor Kok called for greater private-sector engagement and exploration of new areas of economic cooperation.
Lee also highlighted the role of Bangladeshi workers in Malaysia, saying the skills and specialised knowledge they acquire there could contribute to Bangladesh’s industrialisation when they return home.
The meetings produced a formal step towards deeper business links, with DCCI and FMM signing a memorandum of understanding (MoU) to strengthen cooperation in trade and investment. Ahmed and Lee signed the agreement for their respective organisations.
Around 70 business-to-business matchmaking sessions were also held between entrepreneurs from the two countries to exchange information, identify investment opportunities and explore potential partnerships.
Bangladesh High Commissioner to Malaysia Manjurul Karim Khan Chowdhury, Rashidi Said, senior director of the Asia-Pacific Economic Cooperation and Regional Groupings Division at Malaysia’s Ministry of Investment, Trade and Industry, and Naim Abdul Rahman, director of the Central, West, South Asia and Africa Section at the Malaysia External Trade Development Corporation, also participated in the discussions.
