Matrade Invites M'sian Companies To Explore Trade Opportunities In Bangladesh

KUALA LUMPUR, May 17 (Bernama) -- The Malaysia External Trade Development Corporation (Matrade) is inviting Malaysian companies to participate in the 5th Showcase Malaysia 2017, to explore trade opportunities in Bangladesh. The three-day biannual event, to be held at the International Convention City Bashundhara, Dhaka, from Sept 21, 2017, is organised by the Bangladesh-Malaysia Chamber of Commerce & Industry (BMCCI). In a statement Tuesday, Matrade said the showcase, part of an initiative to promote Malaysian exports, would focus on several sectors such as furniture, education, power and energy, herbal products and food and beverage. “The main objective is to highlight Malaysia as a reliable and effective source of diversified products and services and create wider network between Malaysian and Bangladeshi business communities,” it said. Meanwhile, Matrade said a trade talk on business opportunities in Bangladesh was held today and was participated by the Bumiputera manufacturers and services industry association of Malaysia and BMCCI. “The event also served as a platform to increase Bumiputera's participation in export activities,” said Matrade. Bilateral trade between Malaysia and Bangladesh recorded a double-digit growth of 33.1 per cent from RM4.46 billion (US$1.03 billion) recorded in 2015 to RM5.94 billion registered in 2016. Bangladesh is Malaysia’s second largest trading partner among South Asian countries, overtaking Pakistan, it added. Malaysia's exports to Bangladesh in 2016 rose 32.3 per cent to RM5.15 billion with major exports being palm oil and palm-based agriculture products, petroleum products, chemicals and chemical products, machinery, equipment and parts. Meanwhile, imports from Bangladesh valued at RM790 million, also recorded a double-digit growth of 39.4 per cent, contributed mainly by textile and apparel products, comprising 75.7 per cent of total imports. Trade balance was in Malaysia's favour amounting to RM4.36 billion, documenting a growth of 30.9 per cent from 2015. (US$1 = RM4.31) -- BERNAMA