Bangladesh-Malaysia chamber, EPB focus on addressing trade deficit

The Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) and the Export Promotion Bureau (EPB) have emphasised addressing Dhaka's trade deficit with Kuala Lumpur.

Various issues related to bilateral trade between the two countries were the focus of a meeting on Tuesday, where a BMCCI delegation headed by its President Sabbir Khan met with Md Anwar Hossain, vice chairman (Executive Head) of the EPB.

The BMCCI delegation informed the EPB vice chairman that the chamber is actively working to foster cordial relations between businesses in both countries and to reduce the trade gap.

The delegation made several strategic recommendations to tackle the trade imbalance, including negotiating a bilateral Free Trade Agreement (FTA) to secure duty-free access for Bangladeshi products and identifying tariff and non-tariff barriers.

It also put emphasis on attracting investment in infrastructure and potential export sectors, ensuring effective participation in international trade fairs, and enhancing technical cooperation.

Additionally, the BMCCI proposed increased participation in iconic trade fairs held in both countries, as well as the potential for sending trade delegations to expand bilateral trade.

They expressed optimism that such discussions and exchanges would play a crucial role in strengthening trade relations between Bangladesh and Malaysia.

The meeting was attended by senior officials from the Export Promotion Bureau.