June 19, 2013 | 02:23 PM (BD Time)
19 June, 2013 Wednesday
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Showcase Bangladesh in Malaysia
Focus on expanding market, remittance
. UNB, Dhaka
In a bid to minimise chronic trade deficit with Malaysia and popularise Bangladeshi products, Bangladesh-
Malaysia Chamber of Commerce and Industry (BMCCI) has planned to arrange the second 'Showcase Bangladesh-2012' in Kuala Lumpur in July next.
The fair, this time, will also have special focus on bringing remittance through formal banking channel from the Bangladeshis living in Malaysia to help the country increase its remittance inflow, organisers said. Malaysia is a home to around 5 lakh Bangladeshi workers.
"We've confirmed date and venue. The fair will be held at Mardeka Square, Kuala Lumpur from July 13," BMCCI president Syed Nurul Islam told UNB on Saturday.
Four ministers-Industries Minister Dilip Barua, Commerce Minister GM Quader, Civil Aviation and Tourism Minister Faruk Khan and Environment and Forests Minister Dr Hasan Mahmud-will attend the fair and help strengthen ties with Malaysia in different areas of trade and investment, Islam said.
"The fair will help expand Bangladesh's market in Malaysia and introduce new products there…we're expecting a huge market for the RMG since 15 percent tax on it has already been withdrawn," BMCCI secretary general M Alamgir Jalil told this correspondent. He said some 14 banks would take part in the fair to help 5 lakh Bangladeshis living in Malaysia send remittance through formal banking channel. "Bangladesh received over US$ 1 billion as of April 26 in remittance from Malaysia."
There is a prospect of expanding market for ceramics, pharmaceuticals, foods and frozen foods and unconventional items in Malaysian market, Alamgir added.
Export Promotion Bureau (EPB) and Parjatan Corporation are supporting the BMCCI in arranging the event.
The BMCCI leaders said Bangladesh needs to take steps to reduce the trade gap with Malaysia by encouraging more Bangladesh exports to Malaysia.
The total volume of the two-way trade between Bangladesh and Malaysia has reached nearly US$1,804 million while Bangladesh's export is only US$ 43.87million against Malaysia's US$1,759.60 million export to Bangladesh for the year 2010-2011.
Earlier, the BMCCI leaders held meetings with Foreign Minister Dipu Moni and Tourism Minister Faruk Khan and put forward a number of suggestions to narrow down the existing trade imbalance between Bangladesh and Malaysia.
The suggestions include taking initiatives to make Bangladesh as a source country for manpower export to Malaysia, relocation of Malaysian sunset industries to Bangladesh, taking steps to strengthen the Labour and Commercial Wng in Bangladesh High Commission, Malaysia and ensuring close connectivity between Chittagong Port and Penang Port.
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