Malaysians Can Increase Investments In Bangladesh's Diverse Sectors

KUALA LUMPUR, July 11 (BERNAMA) -- Malaysian investors can increase their investments in Bangladesh's diverse sectors, said its High Commissioner to Malaysia, A.K.M. Atiqur Rahman. He said currently, Malaysia was the sixth largest investor in Bangladesh with investments of about US$1.4 billion (US$1=RM3.15). Atiqur said Malaysian investors were working on several mega projects in Bangladesh which included construction. "Investment and trade between the two countries will not be affected by the economic turmoil in Europe and problems in other Western countries," he said at a media briefing on "Showcase Bangladesh 2012". The fair, from July 13-15, aims to introduce Bangladeshi products and services to potential buyers and importers in Malaysia. He said Malaysia's exports to Bangladesh amounted to US$1.8 billion last year. "Our exports to Malaysia from July 2011 to June 2012 amounted to US$56 million," he said. Meanwhile, chairman of Showcase Bangladesh 2012, Syed Moazzam Hossain, said Showcase Bangladesh 2012, scheduled to be held at Dataran Merdeka (Independence Square), would help to accelerate trade and economic ties between the two countries. "We will organise one-to-one meeting for Malaysian importers and Bangladeshi exporters as well as Malaysian exporters and Bangladeshi importers," he said. Besides that the fair is also aimed at promoting Bangladesh's image, heritage and culture, he added. Syed Moazzam said 60 to 70 stalls were taken up by Bangladeshi business and financial institutions, representing bank/remittance services, ready-made garments, knitwear, ceramics, leather products, food, tourism and handicrafts. He said that Bangladesh would like the Malaysians to know that it can produce good products that are export worthy, something many Malaysians seemingly not aware of. Bangladesh wants the Malaysians to understand that it can also provide products at competitive rates just like other countries such as China can, said Syed Moazzam during an announcement at the press meet held at the embassy here on Wednesday. The High Commissioner, on the other hand, also said that the '2nd Showcase Malaysia 2012,' which will present Malaysia to Bangladeshis will be scheduled in June 2013 in Dhaka, Bangladesh, thus making the event a "two-way" effort. The 2nd Showcase Bangladesh 2012 is organised by the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) in collaboration with the Bangladesh High Commission in Malaysia, Malaysia South-South Association (MASSA) and Malaysia External Trade Development Cooperation (MATRADE). International Trade and Industry Minister Mustapa Mohamed is expected to launch the event while Bangladeshi Commerce minister Ghulam Muhammed Quader and Environment and Forests Minister Dr Hasan Mahmud are also expected in attendance. -- BERNAMA