PUTRAJAYA: Malaysia and Bangladesh have agreed to fast-track negotiations on a free trade agreement (FTA) as they move to expand economic ties beyond traditional sectors, says Prime Minister Datuk Seri Anwar Ibrahim.
The decision followed talks earlier Monday (June 22) between Anwar and his visiting Bangladesh counterpart Tarique Rahman.
Bangladesh and Malaysia also signed three agreements: an exchange of notes on counterterrorism research, an exchange of notes on investment promotion and facilitation, and a memorandum of understanding on cultural cooperation.
Anwar said investment promotion and facilitation was a key focus of the agreements, which go beyond cultural cooperation and counterterrorism research.
He said both sides want a comprehensive partnership that is not limited to trade and investment, but also covers research, science, new technology, artificial intelligence and semiconductors.
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"These are our challenges for the future," he told a joint press conference with Tarique.
Anwar said Bangladesh has enormous potential and bilateral trade and investment should expand beyond agriculture into areas such as semiconductors, the digital economy, energy and advanced manufacturing.
He also said meetings had been arranged on cooperation between PETRONAS and Petrobangla, including on liquefied natural gas (LNG) as well as on the halal industry, education, culture and tourism.
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Tarique said his government’s priority was to create jobs and attract investment and that it was building a business-friendly environment for investors.
"I see strong potential for Malaysian investment in Bangladesh and I warmly invite Malaysian businesses to explore opportunities here," he added.
He also extended an invitation to Anwar and his wife Datuk Seri Dr Wan Azizah Wan Ismail to visit Bangladesh.
"The people of Bangladesh will be honoured to welcome you," he added.
Tarique, who arrived with his spouse Dr Zubaida Rahman in KLIA 1 on Sunday (June 21), is on a two-day official visit to Malaysia.
