Bangladesh, Malaysia FTA to Help Two Economies to Face Challenges Ahead

The Malaysian High Commissioner to Bangladesh, Haznah Md. Hashim, claims that trade between Bangladesh and Malaysia is "robust," and that a free trade agreement (FTA) between the two countries will be advantageous for their economies and suggest that their businesses will be well-positioned to meet whatever difficulties lie ahead.

The second-largest trading relationship of Malaysia in South Asia and its nineteenth-largest trading partner overall is Bangladesh. According to her, Bangladesh is Malaysia's sixteenth-largest export market.

Malaysia will commemorate its National Day for the 66th time on August 31. The High Commissioner for Malaysia welcomed genuine Bangladeshi travelers to keep visiting, not just for leisure but also for medical tourism, in a statement.

Malaysia offers advanced medical facilities and skilled healthcare, she said, adding that Malaysia has also emerged as an educational hub, attracting students from Bangladesh who seek world-class education in a diverse and inclusive environment.

“I wish to call upon all Malaysians residing in this beautiful country of Bangladesh, to embrace this spirit of Merdeka and this year's theme Malaysia MADANI: Tekad Perpaduan Penuhi Harapan (determination in unity, fulfilling hope),” said High Commissioner Hashim.

On 31 August 1957, 66 years ago, Malaya (which is now Malaysia), was proclaimed independent from the United Kingdom by the late Tunku Abdul Rahman, the first Prime Minister of Malaysia.

On this historical day and with the word Merdeka chanted 7 times, a new sovereign and independent nation was born.

Emerging from the shadow of COVID-19, Malaysia managed to attract foreign investment (FDI) amounting to RM879.1 billion at the end of 2022 compared to RM782.0 billion at the end of 2021.

The High Commissioner estimates that Malaysia's trade volume would reach RM2.8 trillion in 2022, signifying the nation's fastest growth rate since 1994 at a rate of 27.8%.

Malaysia became the first Muslim nation to recognize Bangladesh as a sovereign state on January 31, 1972, when diplomatic relations between the two countries were first established.

Since then, a "brotherly relations" has been kept and expanded, which so many of them now enjoy, according to her.

The High Commissioner stated that as a result, Malaysia, led by Prime Minister Anwar Ibrahim, and Bangladesh, led by Prime Minister Sheikh Hasina, will keep up their active participation in a range of fields.