Govt trying to reduce trade gap between Bangladesh, Malaysia: Commerce Secy

Senior Secretary of the Commerce Ministry Tapan Kanti Ghosh today (Sept 10) said the government is taking steps to reduce trade gap between Bangladesh and Malaysia by encouraging more exports there.

"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 US$ 337.81 million in 2021-2022 financial year while their exports to Bangladesh worth about $3471.5 million in the same year," he said.

Tapan Kanti Ghosh said this while speaking as the special guest at a event of the sixth Showcase Malaysia 2023 at a hotel in the city, said a press release in Dhaka today.

Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) organised the showcase.

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 emphasised on 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.

President of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) Mahbubul Alam was also present as the special guest while High Commissioner of Malaysia in Dhaka attended the function as the guest of honour.

Tapan Kanti Ghosh said Bangladesh Government as well as the Ministry of Commerce taking steps to reduce this gap by encouraging more Bangladesh exports to Malaysia.

"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," he added.

In the beginning, Showcase Organising Committee Chairman Syed A Habib welcomed all and expressed his gratitude to all the sponsors, co-sponsors and the participants for their active presence to elevate the success of the Showcase Malaysia.

Mahbubur Rahman expressed his joy and focus on his long standing relationship with BMCCI from its inception. He wishes a grand success of the Showcase from the bottom of his heart.

BMCCI President Syed Almas Kabir expressed his whole-hearted joy and 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."

Haznah Md Hashim focused on the bilateral relation between Bangladesh and Malaysia.