Bangladesh wants to sign FTA with Malaysia

Bangladesh is working to sign a free trade agreement (FTA) with Malaysia, Commerce Minister Tipu Munshi said on Wednesday.

“We are trying to sign deals like FTA with different countries to make trade relationships sustainable,” Munshi told this at a virtual discussion titled ‘Bangladesh-Malaysia FTA: Challenges and Opportunities’ organised by the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) on Wednesday.

Presently, many opportunities have been created for investments in Bangladesh and through signing FTAs, trade and economic relationships may be stronger between countries.

He said, “Bangladesh’s trade and economic relations with Malaysia are long. Bangladesh has many opportunities to increase trade and economic relations with Malaysia, one of the first Muslim countries that gave recognition to Bangladesh as an independent country.”

Under the initiative of Prime Minister Sheikh Hasina, 100 special economic zones in various important places of Bangladesh are progressing fast. Many countries are interested in investing in those projects. If Malaysia invests here, it will be greatly beneficial, he observed.

However, an easy investment policy has been made providing attractive and competitive opportunities. Bangladesh is now a lucrative place to invest.

Bangladesh is working hard to create business opportunities using modern technology. Malaysia signed the Bilateral Trade Agreement with Bangladesh in 1986, the Maritime Transport Agreement in 1973, the Economic and Technical Co-operation Agreement in 1992 and the Avoidance of Double Taxation Agreement in 1994.

Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) President Rakib Mohammad Fakhrul (Rocky) presided over the discussion. Bangladesh Trade and Tariff Commission Member Mostafa Abid Khan presented a keynote paper.

Malaysian High Commissioner to Bangladesh Haznah Md Hashim and Bangladesh High Commissioner to Malaysia Golam Sarwar also spoke, among others.