Dhaka Chamber of Commerce and Industry (DCCI) leaders during their meeting with a 40-member trade delegation from Kuching Chinese General Chamber of Commerce and Industry (KCGCCI) invited Malaysian investors to launch joint venture in Bangladesh.
Malaysian Assistant Minister for Agriculture, Sarawak Government, Malaysia YB Encik Malcolm Mussen and Chairman for Commerce Committee, KCGCCI, Christopher Ngui Siew Ling led the Malaysian delegation. DCCI projected that Bangladesh has the potential to become 30th largest economy by the year 2030.
Bangladesh has a largely untapped market where Bangladeshi and Malaysian entrepreneurs can jointly explore the potentials. Malaysian businessmen were invited to import Bangladeshi best quality jute and jute goods.
There is a huge potential for expansion of bilateral trade and investment between Malaysia and Bangladesh is far below the potentials.
Assistant Minister for Agriculture, Sarawak Government, and Malaysia YB Encik Malcolm Mussen said that there is a huge demand of Bangladeshi jute and jute goods in Malaysia. However, export diversification will help Bangladesh get competitiveness in export to Malaysia.
In order to increase the bilateral trade to the expected level and reduce trade deficit, a comprehensive free trade agreement (FTA) between the two countries needs to be inked.
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