BMCCI urges Govt. to take initiative to Increase Trade & Investment

The Government has been urged to take initiative to increase trade & investment. BMCCI President Nasir A. Choudhury made the appeal while members of the board of directors of BMCCI led by him called on Industries Minister Amir Hossain Amu, MP, on Sunday at his Ministry.

Minister appreciated the initiative of BMCCI to organize the Showcase Bangladesh 2014 during September in Kuala Lumpur, Malaysia to boost up trade & investment. He welcomed the newly elected board of directors and office bearers of the Bangladesh-Malaysia Chamber of Commerce & Industry (BMCCI) for the term 2014-2015.

The BMCCI President briefed about the BMCCI with its objectives and activities which is aimed to promote the bilateral trade and investment among the two brotherly countries. He informed that the Government of Bangladesh and through BMCCI’s various promotional measures, exports from Bangladesh to Malaysia has been remarkably increased. In 2006-2007 Bangladesh exported goods worth 16.00 million US dollars to Malaysia while the same stands at 100.11 million US Dollars in 2012-2013.

The BMCCI President further mentioned that Bangladesh considers Malaysia as a major source of Foreign Direct Investment (FDI). Malaysia is the 5th largest investor in Bangladesh in term of FDI with over 3.37 billion US dollars in investments. He said still there is enough scope for Malaysian prospective investors to invest either in 100% ownership or on a joint venture basis, in the sectors of Infra-Structure development including Roads & Highways, Port development, Power & Energy, Healthcare and Medicine, Textiles, Agro Industries, Food Products, Ceramics, Electrical & Electronics, IT, Education, Furniture, Real Estate & Low-cost Housing. In regards to these agenda, President sought support and cooperation from the Ministry of Industries.

In reply, Honorable Minister informed that the government is committed to maintain business-friendly environment in the country. He said that it is in government’s active consideration to increase bilateral trade and investment.

BMCCI also proposed the following issues to be considered from the Ministry of Industries:

  • To undertake initiative to promote relocating Malaysian Sun-set Industries to Bangladesh;
  • To undertake initiative to make Bangladesh as a Source Country for  Manpower Export to Malaysia;
  • To help, cooperate and fully support Bangladesh High Commission in Malaysia to successfully organize the 3rdShowcase Bangladesh 2014 in Kuala Lumpur, Malaysia;
  • To undertake initiative to make close connectivity between Chittagong Port and Penang Port
  • To organize seminars in Malaysia on investment opportunities in Bangladesh
  • To undertake initiative to sign FTA with Malaysia to ensure Bangladesh’s interest.

Hon’ble minister assured his ministry’s all out support to all BMCCI activities to uphold further development of relation between the two countries.

Among others, Industries Secretary Mohammad Moinuddin Abdullah, BMCCI Vice President A.S.M. Mainuddin Monem, Directors Helal Ahmed Chowdhury, Ashraful H. Chowdhury, Kamal Mostafa Chowdhury and Secretary Hasanur Rahman Chowdhury were present during the meeting.