Bangladesh keen on boosting bilateral trade

KUANTAN: Bangladesh welcomes Malaysian investors to trade in the country, said its acting high commissioner Waisuzzaman.

The diplomat said that investment opportunities in his country included power generation, oil, gas and mineral exploration, computer software and software application, data entry and processing and telecommunications and information technology.

“Our Government and the business community are keen to promote bilateral trade and investment opportunities between the two countries.

“Malaysia and Bangladesh stand as allies as we share similar ideologies, culture, and economic and regional values.

“Closer co-operation will have immense significance in developing our economies,” he said after paying a courtesy call on the Pahang Asso­ciated Chinese Chambers of Com­merce and Industry here recently.

At hand to receive him and first secretary Dr Md Rezaul Bashar Siddique were the chamber’s secretary Simon Low Eng Say and its socio-economic research sub-committee head Hwang Mee Tean.

Waisuzzaman said that Malaysia was the fifth-largest investor in Bangladesh after Norway, Britain, the United States and South Korea.

He said that investments from Malaysia up to last December comprised 60 direct and joint-venture projects.

“The major sectors involved are agro-based, food, textile, printing and packaging, chemical, engineering and services.

“Employment opportunities were created for 9,524 locals,” he said, adding that, as of January 16 this year, eight Malaysian companies registered with the Bangladesh Export Processing Zone Authority created jobs for 4,279 locals and 177 foreigners.

“Palm oil accounts for 33% of Malaysia’s exports to Bangladesh,” he said, adding that other items included animal and vegetable fats and oil, vegetable and mineral products, plastics, automobiles and base metals.

Some Malaysian companies operating in Bangladesh are Garisan Etika (M) Sdn Bhd, KPJ Healthcare Group, TFT Tech Group of Malaysia, Malaysia Resources Corporation Berhad and Alami Vegetable Oil Products Sdn Bhd.

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