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Malaysian Deputy Finance Minister Liew Chin Tong and Dhaka Chamber of Commerce and Industry (DCCI) President Taskeen Ahmed held a courtesy meeting at a hotel in Kuala Lumpur on Thursday.
DCCI Senior Vice-President Rajib H Chowdhury and Vice-President Salim Solaiman were also present at the meeting.
During the meeting, Taskeen Ahmed said bilateral trade between Bangladesh and Malaysia stood at around US$2.57 billion in the 2024-25 fiscal year.
He said the two governments could work more closely to identify new areas of economic cooperation and expand trade between the two friendly Muslim-majority countries.
The DCCI president said Bangladesh and Malaysia could create new business opportunities through greater mutual trust and the exchange of experience and technological expertise.
He highlighted Bangladesh’s growing energy demand and its potential in renewable energy, saying the government had recently announced long-term incentives and investment-friendly facilities for the energy and renewable energy sectors, including solar power generation.
He called on Malaysian businesses to invest in Bangladesh’s renewable energy sector and build long-term, mutually beneficial partnerships.
Such cooperation could be made more effective and sustainable through technology transfer, skills development and joint investment, he added.
Taskeen also highlighted the success and popularity of Bangladesh’s mobile financial services (MFS) sector, saying its model is now being used in several countries, including in the Middle East. He said the experience could also offer useful lessons for Malaysia.
He said Bangladesh imports goods worth around US$70 billion annually from countries around the world, making it a large and promising consumer market.
He urged Malaysian exporters to expand their commercial activities in Bangladesh and increase exports to the country by tapping into the potential of its large consumer market.
He also stressed the need to strengthen trade partnerships, diversify products and increase bilateral investment between the two countries.
Liew Chin Tong said Malaysia has a significant demand for skilled workers in its information and communications technology (ICT) sector.
He said Bangladesh’s large young population could benefit from substantial employment opportunities in Malaysia if young people are equipped with the necessary technical and professional skills through appropriate training.
The Malaysian deputy finance minister also said Bangladesh needs to further modernise its international transaction system to attract foreign investment and expand bilateral trade.
He said Malaysia’s experience and models could be useful for Bangladesh in expanding Islamic finance, developing innovative financial products and building a more efficient financial infrastructure.
