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Bangladesh to form body to negotiate FTA with Malaysia

Published: July 11, 2019 19:30:46 | Updated: July 14, 2019 10:10:51


Bangladesh will form a committee to negotiate signing Free Trade Agreement (FTA) with Malaysia.

The information was revealed at the ‘Showcase Bangladesh-Go Global’ at the Royale Chulan Hotel in Kuala Lumpur on Thursday, reports BSS.

Commerce Minister Tipu Munshi inaugurated the showcase as the chief guest.

State Minister for Expatriates’ Welfare and Overseas Employment Imran Ahmed, Deputy Minister for International Trade and Industry (MITI) of Malaysia Dr Ong Kian Ming, Bangladesh High Commissioner to Malaysia Shahidul Islam, Acting High Commissioner of Malaysia in Dhaka Amir Farid Abu Hasan, Bangladesh Association of International Recruiting Agencies (BAIRA) President Benjir Ahmed and BMCCI President Syed Moazzam Hossain delivered speeches on the occasion.

There were three sessions in the daylong showcase – “Globalization – Prospect of Emerging Economy Session”, “Trade: Prospects and Opportunities in Bangladesh” and “Challenges and Opportunities of Skilled Human Resource for Overseas Employment from Bangladesh”.

Tipu Munshi said the government is thinking about signing the FTA with Malaysia.

At a session, former Bangladesh Bank governor Dr Atiur Rahman also recommended signing FTA immediately to boost bilateral trade and investment relations between the two countries.

BMCCI President Syed Moazzam Hossain said a committee will be formed as early as possible to negotiate the FTA between the two countries.

 “Bilateral trade between the two countries will boost up after the signing of the FTA,” he added.

He informed that the BMCCI has also proposed to the Malaysian government to take a special economic zone for setting up their factories in Bangladesh.

Supporting proposed FTA, Executive Director of Policy Research Institution (PRI) of Bangladesh Ahsan H Mansur said the both countries trade should come under FTA.

He also said there are certainly opportunities of bilateral trade between Bangladesh and Malaysia to grow much faster.

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