Bangladesh urges duty free access of Malaysian markets

08 Jun '05

2 min read

Malaysia has decided to examine on Bangladeshi reason of reducing trade imbalance heavily treated towards Kuala Lumpur at the very first day of official talks of the two-day Joint Commission meeting held here.

Economic Relations Division (ERD) secretary Ismail Zabihullah said,"Foreign Ministers of the two country will sign an agreed minutes of cooperation after the ministerial meeting on Tuesday."

He added that the issue of bilateral free trade agreement (FTA) featured in the talks, as a few known gray areas would necessitate for further discussion. Bangladesh urged to boost manpower recruitment from the country under the signed memorandum of understanding (MOU), between the two countries in 2003.

Bangladesh appealed for duty-free access to Malaysia for its 19 category of products, includes readymade garments, home textiles, terry towel, ceramic products, frozen foods, jute and leather products, and potato.

ERD secretary explained these products are demanded in Malaysia and some of this products were being exported to the country.

The duty-free access would help Bangladesh to reduce the trade deficit, he added.

Bangladesh suffered a trade shortfall of $245 million in 2003-04 with its imports totalling US$ 254 million against exports of $ 8.66 million.

Ismail Zabihullah said Bangladesh requested Malaysia for similar trade preferences Kuala Lumpur shares with its ASEAN partners, considering the excellent relationsbetween the two brotherly countries.
between the two brotherly countries.

Malaysia was also requested to consider Bangladesh's cause in line with the Global System of Trade Preferences (GSTP), he added.

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