Amu for boosting trade relations with Malaysia

Industries Minister Amir Hossain Amu underscored the need for strengthening  relations between Bangladesh and Malaysia in every possible sphere, including trade and business, for the mutual benefits of the common people in both the countries.
The Minister hoped the existing trade figure between Bangladesh and Malaysia will reach the new height in the days ahead through closer bilateral trade and investment relations between the two countries.
He was speaking as the chief guest at the inaugural ceremony of the "5th Showcase Malaysia 2017," a single country three-day trade fair, at International Convention City, Bashundhara in the city.
"I am sure that through this wonderful exhibitions and business gathering, the existing trade and business relations between Bangladesh and Malaysia will be strengthened further in the upcoming days," the minister said.
Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) organised the event in collaboration with the Malaysia High Commission in Dhaka and Bangladesh High Commission in Kuala Lumpur and also with the support of Malaysia External Trade Development Corporation (MATRADE) and Malaysia South-South Association (MASSA).
Mentioning Malaysia as one of the time-tested friends of Bangladesh, Amu said, the inherent reasons behind the strong bond of friendship are mainly based on religious, cultural, linguistic, ethnic, historical and social links existing between the peoples of both the countries.
Among others, Acting High Commissioner of Malaysia to Bangladesh Idham Zuhri Mohamed Yunus, BMCCI President Architect Md. Alamgir Jalil and Showcase Organizing Committee Chairman Syed Moazzam Hossain also spoke on the occasion.
Shabbir Ahmed Khan, Secretary General, BMCCI and Showcase Director, distinguished leaders of BMCCI,  Exhibitors and business delegations from Malaysia were also present at the event.
Md Alamgir Jalil said: "Bilateral trade between Malaysia and Bangladesh recorded healthy growth last year. In 2016, Bangladesh as the second largest trading partner among South Asian countries overtook Pakistan, and recorded a double digit growth of 33.1 % from RM (Malaysian ringgit) 4.46 billion in 2015 to RM 5.94 billion. Malaysia's exports to Bangladesh increased by 32.3% in 2016 valued at RM 5.15 billion."
"The major exported products (from Malaysia to Bangladesh) are palm oil and palm-based agricultural products, petroleum products, chemicals & chemical products, machinery, equipment and parts," he said
Exports from Bangladesh to Malaysia have also recorded double digit growth by 39.4% valued at RM 0.79 billion, contributed mainly by exportt growth of textiles and apparels products.
Textiles and apparel products contributed 75.7% of total import products. Trade balance is in Malaysia's favour amounting to RM 4.36 billion, a growth of 30.9% from 2015," referred Alamgir.