Dhaka, Kuala Lumpur step up economic cooperation talks

Bangladesh and Malaysia have discussed expanding cooperation in finance, investment and other economic sectors, including a proposed free trade agreement, Islamic finance and the recovery of illicitly transferred assets.

The issues were discussed at a meeting between Malaysian Deputy Finance Minister Lim Ching Tong and Bangladesh High Commissioner to Malaysia Manzurul Karim Khan Chowdhury at the deputy minister’s office on Thursday (August 6).

The two sides reviewed a range of matters of mutual interest, with particular focus on deepening bilateral economic engagement.

The proposed Bangladesh-Malaysia Free Trade Agreement (FTA), institutional cooperation between the two countries’ central banks, measures to combat money laundering and the recovery of laundered assets were among the key issues discussed.

They also discussed ways to facilitate the withdrawal of bank deposits held in Malaysia by Bangladeshi workers who have returned home, financing for the halal industry, investment in renewable energy and cooperation with Malaysia’s sovereign wealth fund, Khazanah.

The possibility of strategic Malaysian investment in a proposed fund in Bangladesh also came under discussion.

Both sides stressed the need to expand bilateral economic ties through mutually beneficial initiatives in financing, investment and sustainable economic development.

Lim welcomed the continued progress in Bangladesh-Malaysia relations and expressed his interest in advancing cooperation in the areas discussed at the meeting.