BUSINESS OPPORTUNITIES IN BANGLADESH
7 MARCH 2013 (THURSDAY)
PARIS ROOM, LEVEL 3, MECC MENARA MATRADE
WELCOMING REMARKS By
Y. Bhg. Dato’ Zakaria Kamarudin
Mr. Syed Nurul Islam,
President, Bangladesh Malaysia Chamber of Commerce and Industry (BMCCI)
Mr. Mamunur Rahman, CEO EXPOPRO
Ar. Md.Alamgir Jalil
Hon. Secretary General, BMCCI
Members of the Media,
Malaysian companies, and
Ladies and Gentlemen,
A very good morning, “shagotom”, Selamat Datang – Welcome to MATRADE
On behalf of MATRADE, I would like to take this opportunity to welcome Mr. Syed Nurul Islam and his team to this special programme on Business Opportunities in Bangladesh.
I also would like to express my appreciation and thanks to all Malaysian participants for allocating your time to attend this programme.
This programme is made possible through the collaboration between MATRADE and BMCCI. It is intended to provide you with the information on business prospect, potential and opportunities that are available in Bangladesh.
Malaysia’s Trade with Bangladesh has been on an upward trend with an average annual growth of 28.8% for the past decade.
In 2012, Malaysia’s total trade with Bangladesh was valued at US$1.57 billion. Although trade was in Malaysia’s favour, it is encouraging to note that Malaysia’s imports from Bangladesh increased by more than 80% to US$73.9 million in 2012 as compared to the previous year. These figures indicate that businesses from both countries are looking forward to have more business transactions with each other.
Malaysia’s top 5 exports to Bangladesh by products sector in 2012 (January – December) were:
- Refined petroleum products (US$591.79 million; 39 per cent);
- Palm oil (US$252.59 million; 16.6 per cent);
- Chemicals & chemical products (US$116.31 million; 7.7 per cent);
- Iron and Steel (US$97.65 million; 6.4 per cent) and
- Electrical & electronic products (US$66.94 million; 4.4 per cent);
Malaysia’s major imports from Bangladesh in 2008 (January – December) were:
- Textiles and Apparel (US$34.83 million; 46.4 per cent);
- Refined petroleum products (US$17.37 million; 23.1 per cent);
- Vegetables, Roots and Tubers (US$5.08 million; 6.8 per cent);
- Processed food (US$4.81 million; 6.4 per cent);
- Seafood, Fresh, Chilled and Frozen (US$ 2.39 million; 3.2 per cent) and
- Electrical & electronic products (US$ 1.82 million; 2.4 per cent).
Among the South Asian Countries, Bangladesh ranked as Malaysia’s 3rd largest trading partner and 3rd largest export destination after India and Pakistan.
I believed that with closer trade relations between Malaysia and Bangladesh, the trade figure between our countries will reach to a higher mark in the near future and years to come.
Ladies and Gentlemen,
Today event is organized with the objective to provide Malaysian companies with first hand information on business opportunities in Bangladesh.
Before we listen to the presentation by the distinguished speakers, allow me to just point out some important facts on Bangladesh
1. GDP Growth –average (2008-2012) stood at 6.2%
2. Population -Out of 144million, 86% are below 45 years old-which is comparable with Vietnam and India. The Middle class is growing rapidly, thus increasing the disposable income among the consumers.
3. Investment-actively encourage investment into the countries –reflecting into the need for better infrastructure facilities.
In view of these important facts, we are fortunate that our two speakers today will present to us details on the opportunities offered by the important sectors in Bangladesh which are power and infrastructure, as well as, education.
Mr. Mamunur Rahman will be speaking on the power generation and infrastructure development while Mr. Md. Alamgir will talk in details on the opportunities and potential of education industry in Bangladesh.
Mr. Md. Alamgir will also speak on Showcase Malaysia 2013 which will be held in Dhaka, Bangladesh on 23 to 25 May 2013. Malaysian exporters should use this platform to explore and build closer relationship with the Bangladeshi business communities.
I have visited Bangladesh in March 2012 during MATRADE’s Marketing Mission to Dhaka and Chittagong where I managed to meet with Malaysian having their business in Bangladesh. Among the notable Malaysian companies in Bangladesh were
- AXIATA Ltd, formerly known as TM International,
- Perdana College
- Westmont Power (BD) Limited
- IRIS Corporation Berhad
- Malaysia Maritime and Dredging Corporation (MMDC)
I have the chance to visit the Chittagong Port where Malaysian company, MMDC was doing the dredging works for the expansion of the port. The contract worth RM100 millions and schedule to be completed by end of this year.
Ladies and Gentlemen,
Before I end, I would like to take this opportunity to acknowledge and record our appreciation to BMCCI and all Malaysian companies for your support in making this programme a success. I wish all of you a fruitful session.
It is now my pleasure to invite Mr. Syed Nurul Islam to deliver his opening remarks. Thank You.