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14 Jul 2013
Bangladesh trade fair in KL to boost trade relation

A three-day Bangladesh trade fair in Malaysia titled “Trade in Bangladesh”, will be held at the Putra World Trade Centre in Kuala Lumpur (KL) from August 15, aiming at boosting up trade and business relations between the two countries. The event, the single country largest fair in Malaysia, will highlight Bangladesh cultures, customs and potentialities of the country’s industrial sector, especially the readymade garment (RMG) sector, said BGMEA second vice president SM Mannan Kochi while addressing a press conference.

Malaysian Minister, International Trade and Industry Mustapa Mohamed and Commerce Minister GM Quader are expected to jointly inaugurate the fair at Putra World Trade Centre. A trade delegation comprising the BGMEA and BKMEA will also attend the fair to explore markets. Headmaster Events, a media and marketing event management, is organsing the trade fair which is likely to be participated by members of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), Bangladesh Tourism Board and Real Estate and Housing Association of Bangladesh.

Some 242 stalls will be set up at the prestigious fair venue ‘Putra World Trade Centre (PWTC)’ in Malaysian capital where various Bangladeshi companies will display their products in front of Malaysian entrepreneurs and consumers. Although the trade between the two countries is increasing the deficit is also widening reflecting the trade in favour of Malaysia, said Kochi stressing the need for taking steps to reduce this trade gap by encouraging more Bangladesh exports to Malaysia.

The total volume of the two-way trade between Bangladesh and Malaysia reached nearly US$1.670 billion while Bangladesh's export was only $ 100 million against Malaysia's $1,57 billion export to Bangladesh for the year 2010-2011. Of the Bangladesh Export the RMG contributed only $ 69.19 million.

Malaysia can be the new destination for Bangladeshi garments products as the Malaysian government has authorised duty free entrance for 300 Bangladeshi products including readymade garments, Mannan said and added that China holds the first position as RMG exporter to Malaysia since long followed by India. “Though still Bangladesh is third in the list of RMG exporting country to Malaysia, we are hopeful to take lead in this south-eastern Asian market,” he said.

At least 20 members of BGMEA and BKMEA will display various Bangladesh made light garments during the fair, Mannan said adding that besides, a high level joint delegation of BGMEA and BKMEA will visit the trade show to hold B2B (business to business) meetings with the Malaysian buyers. The fair will have focus on the readymade garment industry apart from giving priority to promoting tourism, the organisers said. They said the fair will help buyers communicate with the right suppliers in Bangladesh.

BGMEA Vice-President Riaz-Bin-Mohammad, Headmaster Events Chief Executive Officer (CEO) Shafiul Islam and Chief Financial Officer (CFO) Syed Zafar also spoke at the press conference.  Shafiul Islam said the exposition also aims at promoting Bangladesh tourism industry for attracting more Malaysian tourists. Syed Zafar said apart from garments and knitwear exporters, a number of beverage producers, software firms, banks, financial institutions, tour operators, hotels and airlines will participate at the mega Bangladesh exposition in Malaysia. He said Bangladesh Commerce Ministry has affiliated the fair while the Malaysian Trade Ministry has endorsed it and is looking forward to welcome Bangladeshi entrepreneurs in Kuala Lumpur.

Source :: The Independent