Bangladesh and Malaysian officials underscored the need for deepening relations between the two countries through focusing on key areas of cooperation such as labor migration, trade, investment, and educational exchanges.
They were speaking at a lecture session titled "Bangladesh-Malaysia Relations: Moving towards Prosperity," hosted by the Bangladesh Institute of International and Strategic Studies (BIISS) at its auditorium on Sunday.
The officials from both countries highlighted opportunities to deepen ties while addressing current challenges.
Haznah Md. Hashim, the High Commissioner of Malaysia to Bangladesh as guest speaker emphasized the growing relationship between the two nations, noting the importance of enhancing bilateral collaboration.
She said labor migration is always a key issue as Malaysia remains a primary destination for Bangladeshi workers. She underscored the need to improve the labor migration framework, ensuring better protection for workers and addressing concerns like contract violations, wage disputes, and working conditions.
The high commissioner Hashim stressed that increased cooperation between Bangladesh and Malaysia could resolve many of these concerns, benefiting both nations economically while protecting workers' rights.
She also noted that Bangladesh and Malaysia should explore new sectors of collaboration, particularly in renewable energy, which presents significant opportunities for both nations.
Bangladesh's Additional Foreign Secretary, Ambassador M Riaz Hamidullah as special guest echoed these views, noting the value of structured agreements between the two governments to ensure safe and regulated labor migration.
He called for more robust regulatory mechanisms to safeguard the welfare of workers, while also highlighting the importance of labor migration for both the Bangladeshi economy and Malaysia's workforce.
The lecture also focused on the growth of bilateral trade, which surpassed USD 3 billion in 2023. Both countries are looking to further expand trade ties, with Malaysia exporting palm oil, electronics, and construction materials, while Bangladesh supplies apparel, pharmaceuticals, and seafood.
Officials highlighted the potential for expanding trade in sectors like agriculture, halal products and electronics. Discussions also touched on reducing trade barriers and simplifying customs processes to foster smoother trade flows.
Foreign direct investment (FDI) from Malaysia was another crucial point of discussion. Malaysian companies have invested in Bangladesh's telecommunications, infrastructure and real estate sectors, and further investments are being encouraged.
Bangladesh's growing economy and stable investment climate make it an attractive destination for Malaysian investors, and the establishment of special economic zones (SEZs) offers new avenues for collaboration.
Speakers at the event suggested the creation of a joint investment forum to facilitate deeper conversations between investors from both countries, with the goal of fostering more productive partnerships.
In addition to economic collaboration, the lecture touched on educational and technical exchanges between the two nations. Malaysia has become a popular destination for Bangladeshi students, especially in fields like medicine and engineering, with more than 10,000 students currently enrolled in Malaysian institutions.
The discussion emphasized the potential for expanding scholarship programs and exchange initiatives to further strengthen educational ties. Malaysia's expertise in vocational training could also play a role in helping Bangladesh develop its workforce, particularly in sectors like information technology and robotics.
Ambassador A F M Gousal Azam Sarker who chaired the session, summarized the event by underscoring the importance of building stronger people-to-people connections. He noted that cultural, educational, and technical exchanges would contribute to the overall prosperity of both nations. The discussions reinforced the foundation of Bangladesh-Malaysia relations and set the stage for continued cooperation in key sectors.
