The government needs to start immediate negotiations with Malaysia and seize the opportunity to send maximum number of workers against their present demand of 1.1 million, a trade body suggested here yesterday.
Leaders of the Bangladesh Malaysia Chamber of Commerce and Industry (BMCCI), led by its president Nasir A Choudhury, came up with the recommendation as they met Foreign Minister AH Mahmood Ali at the foreign ministry, reports UNB.
The BMCCI put forward a number of recommendations to close the existing trade gaps between the two countries, increase FDI from Malaysia and remove barriers for increasing manpower exports to Malaysia.
The trade body sought government initiatives to make Bangladesh as the major source country for manpower export to Malaysia.
The BMCCI president sought the commerce ministry’s cooperation to sign a Free Trade Agreement (FTA) with Malaysia but after ensuring Bangladesh’s best interests.
The FTA between the two countries could attract greater FDI leading to Malaysian manufacturing units relocating to Bangladesh to take advantage of lower wage costs, he said.
The BMCCI leader suggested creating awareness among the Malaysian investors about the competencies of products and services of Bangladesh.
Bangladesh has so far fetched Malaysian FDI to the tune of US $3.37bn while the total value of trade between the two countries last year amounted to over US$2bn.
The foreign minister listened to their recommendations and assured of providing all possible support to increase Bangladesh’s export to Malaysia.
He thanked the BMCCI leaders for their role in promoting bilateral trade relationship between Bangladesh and Malaysia.
