On Tuesday (January 14, 2025) a delegation from the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI), led by Mohd Shuhada Othman, High Commissioner of Malaysia to Bangladesh, met with Sk Bashir Uddin, Hon’ble Adviser, Ministry of Commerce, to discuss enhancing bilateral trade and commerce between our two brotherly nations.
Key discussions included the potential signing of a Free Trade Agreement (FTA) which could significantly benefit both countries as Bangladesh approaches Middle-Income status in 2026. The current trade scenario, which shows a large trade deficit favoring Malaysia, was also addressed, with Bangladesh exporting $293 million while importing $2.6 billion in FY 2023-24.
The meeting highlighted the importance of increasing people-to-people contact and conducting market research to identify import opportunities for Malaysia. BMCCI also emphasized leveraging the growing Halal market, projected to reach approximately USD 6 trillion by 2031, and establishing partnerships with Malaysian certification bodies like JAKIM to enhance Bangladesh’s Halal certification processes.
Additionally, BMCCI aims to strengthen trade ties within the ASEAN framework and capitalize on Malaysia’s strategic position to boost Bangladeshi exports. The delegation also discussed initiatives to address the skills gap in Malaysia by collaborating on training skilled engineers.
Honorable Adviser H.E. Sk. Bashir Uddin expressed gratitude for the important discussions and reiterated the commitment to work closely with the private sector to realize these opportunities.
BMCCI President Mr. Shabbir A Khan, Vice President Mr. Mahbubul Alam, Secretary General Mr. Md. Motaher Hoshan Khan, Joint Secretary General Mr. Rubaiyat Ahsan, Joint Secretary General Mr. Sifat Ahmed Chaudhuri, Director Mr. Mahmudur Rashid were present at the meeting.
