TUESDAY, 16 MAY 2017, KUALA LUMPUR: As an initiative to promote Malaysian exports to Bangladesh, Malaysia External Trade Development Corporation (MATRADE) has jointly organised a trade talk on Business Opportunities in Bangladesh with Persatuan Pengilang dan Industri Perkhidmatan Bumiputera Malaysia (PPIPBM) and Bangladesh-Malaysia Chamber of Commerce & Industry (BMCCI), depicting the true spirit of public-private partnership. The event which was held today also supported by the High Commission of Bangladesh in Malaysia.
The objective of the event was to provide information to Malaysian companies on the trade and business opportunities available in Bangladesh. With the participation from PPIPBM, the event also served as a platform to increase Bumiputera's participation in exports. To complement their effort to penetrate the market, Malaysian companies were also invited to participate in the upcoming 5th Showcase Malaysia 2017 which will be organised by BMCCI. This biannual event will be organised from 21 – 23 September 2017 in International Convention City Bashundhara, Dhaka.
The Showcase will focus on several sectors such as furniture, education, power & energy, herbal products and food & beverage. BMCCI Past President & Chairman of Showcase Malaysia 2017 Organising Committee, Mr. Syed Moazzam Hossain and Mr. Shabbir Ahmed Khan, BMCCI Honorary Secretary General & Showcase Director, Organizing Committee of 5th Showcase Malaysia 2017 were present to brief on Showcase Malaysia 2017.
The main objective of Showcase Malaysia 2017 is to highlight Malaysia as a reliable and effective source of diversified products and services and create wider network between Malaysian and Bangladeshi business communities. This event is expected to attract Bangladeshi businessmen, professionals and visitors to see for themselves the merit of Malaysia as the preferred destination and source for higher education, healthcare, tourism, property investment, automobiles, construction services, building materials, oil & gas and banking & financial services.
Bilateral trade between Malaysia and Bangladesh recorded healthy growth last year. In 2016, Bangladesh was the second largest trading partner within South Asian countries, overtaking Pakistan, and recorded a double digit growth of 33.1% from RM 4.46 billion in 2015 to RM 5.94 billion. Malaysia's exports to Bangladesh increased by 32.3% in 2016 valued at RM 5.15 billion. The major exported products are palm oil & palm-based agriculture products, petroleum products, chemicals & chemical products, machinery, equipment and parts.
Imports from Bangladesh have also recorded double digit growth of 39.4% valued at RM0.79 billion, contributed mainly by the import growth of textiles and apparels products. Textiles and apparel products contributed 75.7% of total import products. Trade balance is in Malaysia's favour amounting to RM4.36 billion, a growth of 30.9% from 2015.