MALAYSIA’S exports to the People’s Republic of Bangladesh is expected
to breach US$1 billion (USD1=RM3.39) in the 12 months ending June this
High Commissioner to Malaysia, A.K.M. Atiqur Rahman said between July
2008 and June 2009, Malaysia’s exports to the republic stood at
“Bangladesh is expected to sign a huge deal to buy crude palm oil from Malaysia.
“If this happens, Malaysia’s exports to Bangladesh, for the first time, will exceed US$1 billion,” he said.
Atiqur Rahman was speaking to reporters after a briefing on the
upcoming “Showcase Bangladesh 2010”, an exhibition of various
Bangladeshi products and services.
He said crude palm oil would continue to remain the main import from Malaysia after petroleum and diesel.
High Commissioner was also optimistic that Bangladesh exports to
Malaysia would reach US$35 million in June 2010, from US$31.28 million
recorded in the same period last year.
Atiqur Rahman said
although the trade imbalance was huge and in Malaysia’s favour, the
Bangladeshi government was working hard to attract more investments and
imports from Malaysia and other developed countries.
said Malaysia was the sixth largest investor in Bangladesh with
investments totalling US$1.34 billion in the telecommunication and
“The Bangladeshi government has introduced many incentives and interesting packages to foreign investors.
significant ones are the duty-free rule imposed on foreign investments
and a new system to ease the current obligations imposed on foreign
investors to repatriate 100 per cent of their profits back to their
origin country,” said Atiqur Rahman.
He said Malaysia can now diversify its investments rather than invest in the same sectors.
“For instance, Malaysia can really assist Bangladesh in the tourism
a related development, Atiqur Rahman said he had made a request to
International Trade and Industry Minister Datuk Mustapa Mohamed that
the Malaysian government reduce tax, which was between 30 and 40 per
cent, on Bangladeshi imports into the country.
pointed out that there should be zero tax on some beneficial products
imported from Bangladesh like ceramic, pharmaceuticals and silk
“We are not disputing the quality of products in the
Malaysian market but we are sure Bangladesh can produce better products
at cheaper prices,” he said.
Source : Business Times