Malaysia keen on FTA partnership with Bangladesh: Reports

04 Jun '24

1 min read

Malaysia keen on FTA partnership with Bangladesh: Reports

Pic: Adobe Stock

Insights

Malaysia is keen to sign an FTA with Bangladesh to increase two-way trade and investment.
High commissioner of Malaysia to Bangladesh, Haznah Md Hashim underlined this at an event held in Bangladesh's capital Dhaka recently.
Malaysia is Bangladesh's 26th largest trading partner.
Bangladesh's exports to Malaysia reportedly reached $330.3 million last year.

Malaysia is enthusiastic about signing a Free Trade Agreement (FTA) with Bangladesh to boost bilateral trade and investment.

This is as per media reports, which added Malaysian high commissioner Haznah Md Hashim expressed this desire during an interaction with the members of the Diplomatic Correspondents Association of Bangladesh (DCAB) in Dhaka.

Malaysia holds historical significance for Bangladesh, being the first Muslim country to recognise its independence in January 1972.

Despite being Bangladesh’s 26th largest trading partner, trade remains skewed towards Malaysia, with the two-way trade reaching $2.78 billion last year, primarily fuelled by Malaysian exports.

However, there has been a positive trend in Bangladesh’s exports to Malaysia, reaching $330.3 million last year.

With agriculture and garments being key export sectors for Bangladesh, the Malaysian high commissioner also stressed the importance of competitiveness, especially as Bangladesh graduates from the Least Developed Country (LDC) status.

Fibre2Fashion News Desk (DR)

More Textiles News - Bangladesh...