Press Release

300 products get duty-free access to Malaysia

The Malaysian government has offered duty-free export facility to 300 Bangladeshi products, including main export earning apparel.
The new regime will come to effect soon, said a senior official of the commerce ministry, requesting not to be named.
Last year Malaysia gave the same facility to 19 products, the official added.
The announcement of duty-waiver for the 300 products was made in October last year, although the declaration is yet to come into force.
Major products on the list of 300 include apparels, handbags, shoes, shampoos, suits, children’s apparels, wallets, hair colourants, golf balls, imitation jewellery, talcum powder, curtains, tablecloths, blankets, bed sheets, shirts, undergarments, lingerie, nightwear, perfumes and mosquito nettings, the official said.
The new offer will help reduce bilateral trade gap that heavily favours Malaysia, he added.
According to Export Promotion Bureau (EPB) data, during the July-March period of the current fiscal year, Bangladesh imported goods worth $1.23 billion from Malaysia and exported goods worth $29.84 million.
In the last fiscal year, the import amount was $1.24 billion, while that of export was $62 million.
“The duty-free facility will benefit Bangladesh. Malaysia might be a good apparel market for us, as its people have a strong purchasing power,” said Shafiul Islam Mohiuddin, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
He said there are some markets such as Australia and New Zealand that have a little population with strong purchasing capacity.
Syed Moazzam Hossain, president of Bangladesh-Malaysia Chamber of Commerce and Industry, said the Malaysian government has already allowed duty-free facility to 300 Bangladeshi products. Now it is the responsibility of the Bangladesh government to move fast on the matter, he added.
“We have potential in Malaysia, but we have to explore it. Bangladeshi garment exporters should explore the Asian countries like Malaysia,” he said.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.