The government is taking steps to reduce the trade gap between Bangladesh and Malaysia by encouraging more exports there, commerce ministry Senior Secretary Tapan Kanti Ghosh said.
"As regards to bilateral trade, it is evident that Bangladesh has been suffering a chronic trade deficit with Malaysia which is growing every year. We exported goods to Malaysia worth $337.81 million in 2021-2022 financial year while their exports to Bangladesh worth about $3471.5 million in the same FY," he said.
Tapan recently said this while speaking as the special guest at the Sixth Showcase Malaysia 2023 at a hotel in Dhaka, read a press release issued on Sunday. The Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) organised the event.
The programme was supported by the Malaysia External Trade Development Corporation (MATRADE), Malay Chambers of Commerce Malaysia (MCCM), Dewan Perniagaan Melayu Malaysia (DPMM), the Malaysia South-South Association (MASSA), Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zone Authority (BEZA), the Bangladesh High Commission in Malaysia and the High Commission of Malaysia in Bangladesh.
The two-day event held a number of seminars on contemporary issues, the BMCCI Business Excellence Awards, the modest fashion show, and the Grand Gala Night including showcasing Malaysian products and services.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Mahbubul Alam was also present as the special guest while High Commissioner of Malaysia in Dhaka Haznah Md Hashim attended the function as the guest of honour.
Tapan said, "Private sectors have to play a major market promotion drive. The government can undertake a proactive trade facilitation role for market promotion by the private sectors and in market access through trade concessions and removing non-tariff barriers."
In the beginning, Showcase Organising Committee Chairman Syed A Habib welcomed all and expressed his gratitude to all the sponsors, co-sponsors and participants for their active presence in elevating the success of the event.
BMCCI President Syed Almas Kabir said, "Malaysia is not only the future market for our products but also our strategic partner for many reasons.
“I firmly believe that Sixth Showcase Malaysia 2023 will provide a great avenue to attract a large number of businessmen, professionals, and visitors who are expected to achieve its purpose of projecting Malaysia as the preferred destination for higher education, healthcare, ICT, tourism, automobiles, construction, building materials, banking and financial services, etc," he added.
