Dhaka seeks duty-free market access to KL

3-day Showcase Malaysia 2015 begins in Dhaka

Commerce Minister Tofail Ahmed yesterday sought duty-free market access of all Bangladeshi products to the Malaysian market so that the trade ties between the two countries can reach a newer height in the coming days, reports UNB.
He also invited Malaysian entrepreneurs to invest in Bangladesh to have a strong production base here and re-export products to Malaysia and other global destinations benefiting the two countries.
Only 19 Bangladeshi products now enjoy duty-free access to Malaysian market apart from facing some tariff and non-tariff barriers.
The commerce minister was addressing the inaugural session of a three-day ‘Showcase Malaysia 2015’ as the chief guest at Sonargaon Hotel in the city. Bangladesh Malaysia Chamber of Commerce and Industry (BMCCI) is hosting the trade show for the fourth time.
Malaysian High Commissioner in Dhaka Norlin Binte Othman, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Abdul Matlub Ahmad, BMCCI President Nasir A Choudhury, former BMCCI President and fair organising committee chairman Syed Moazzam Hossain and BMCCI Treasurer Syed Almas Kabir also spoke on the occasion.
Describing Malaysia as a good friend of Bangladesh, Tofail said Malaysia is supporting Bangladesh in many ways, and hoped that the country will play its role in helping Bangladesh develop further. “Our economy is growing very fast... we have a lot of potential.”
He also alleged that a certain quarter is trying to disrupt the growth of Bangladesh but the economy is moving ahead despite these problems.
Tofail said Bangladesh has a very liberal investment policy that can convince the Malaysian investors to come here and invest in a bigger way.
The Malaysian high commissioner said there is lot of potential in Bangladesh, and Malaysian companies are here to see for themselves what business opportunities Bangladesh offer for Malaysian businesspeople.
“This is part of our ongoing business collaboration to reach our trade relations to a newer height,” she said.
Appreciating the BMCCI role, the diplomat said BMCCI is one the most active bilateral chambers in Bangladesh which is promoting a two-way trade.
Matlub Ahmad said this is the time to think differently and shared the idea of re-exporting to India, Malaysia and other global destinations having Malaysian production base in Bangladesh.
Moazzam Hossain said Bangladesh is looking for more Foreign Direct Investment (FDI) and Malaysia is also willing to increase its investment here.
According to him, there is huge potential to have joint ventures with Malaysian companies in Bangladesh in areas like health tourism, tourism and food processing units.
After formal inauguration by cutting ribbon, the Commerce Minister and Malaysian High Commissioner along with other guests visited different stalls at the fair venue.
There are 55 stalls in the three-day show representing manufacturers, exporters, traders, educational institutions, service providers, telecommunications, banking sector, information technology, tourism, healthcare and medical.

Dhaka seeks duty-free market access to KL

3-day Showcase Malaysia 2015 begins in Dhaka

Commerce Minister Tofail Ahmed yesterday sought duty-free market access of all Bangladeshi products to the Malaysian market so that the trade ties between the two countries can reach a newer height in the coming days, reports UNB. He also invited Malaysian entrepreneurs to invest in Bangladesh to have a strong production base here and re-export products to Malaysia and other global destinations benefiting the two countries. Only 19 Bangladeshi products now enjoy duty-free access to Malaysian market apart from facing some tariff and non-tariff barriers. The commerce minister was addressing the inaugural session of a three-day Showcase Malaysia 2015 as the chief guest at Sonargaon Hotel in the city. Bangladesh Malaysia Chamber of Commerce and Industry (BMCCI) is hosting the trade show for the fourth time. Malaysian High Commissioner in Dhaka Norlin Binte Othman, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Abdul Matlub Ahmad, BMCCI President Nasir A Choudhury, former BMCCI President and fair organising committee chairman Syed Moazzam Hossain and BMCCI Treasurer Syed Almas Kabir also spoke on the occasion. Describing Malaysia as a good friend of Bangladesh, Tofail said Malaysia is supporting Bangladesh in many ways, and hoped that the country will play its role in helping Bangladesh develop further. Our economy is growing very fast... we have a lot of potential. He also alleged that a certain quarter is trying to disrupt the growth of Bangladesh but the economy is moving ahead despite these problems. Tofail said Bangladesh has a very liberal investment policy that can convince the Malaysian investors to come here and invest in a bigger way. The Malaysian high commissioner said there is lot of potential in Bangladesh, and Malaysian companies are here to see for themselves what business opportunities Bangladesh offer for Malaysian businesspeople. This is part of our ongoing business collaboration to reach our trade relations to a newer height, she said. Appreciating the BMCCI role, the diplomat said BMCCI is one the most active bilateral chambers in Bangladesh which is promoting a two-way trade. Matlub Ahmad said this is the time to think differently and shared the idea of re-exporting to India, Malaysia and other global destinations having Malaysian production base in Bangladesh. Moazzam Hossain said Bangladesh is looking for more Foreign Direct Investment (FDI) and Malaysia is also willing to increase its investment here. According to him, there is huge potential to have joint ventures with Malaysian companies in Bangladesh in areas like health tourism, tourism and food processing units. After formal inauguration by cutting ribbon, the Commerce Minister and Malaysian High Commissioner along with other guests visited different stalls at the fair venue. There are 55 stalls in the three-day show representing manufacturers, exporters, traders, educational institutions, service providers, telecommunications, banking sector, information technology, tourism, healthcare and medical.