Malaysia has expressed its interest in diversifying palm oil exports to Bangladesh and investing in palm oil value addition industries.
Malaysian Minister for Plantation Industries and Commodities Datuk Zuraida Kamaruddin came up with this while talking to Bangladesh High Commissioner to Malaysia Md Golam Sarwar in Putrajaya Tuesday, according to a press release of Bangladesh High Commission in Kuala Lumpur.
Noting the contribution of Bangladeshi workers in the development of Malaysia's palm oil sector, Datuk Zuraida Kamaruddin said Malaysia is interested in expanding the palm oil market in Asian countries.
He emphasised on increasing the production of palm oil by ensuring uninterrupted labour supply, solving housing problems and increasing the facilities for the workers.
High Commissioner Md Golam Sarwar briefed the Malaysian minister on the economic and social progress of Bangladesh under the leadership of Prime Minister Sheikh Hasina.
He said the government is setting up a total of 100 economic zones and 28 high-tech parks in the country to attract foreign investors.
He told the Malaysian minister that Malaysian investors could benefit by investing in these economic zones and high-tech parks.
He added that Malaysia could provide an opportunity for Malaysian investors to invest in Bangladesh by taking up an entire special economic zone like South Korea and Japan.
The Malaysian minister assured the high commissioner that he would discuss the matter with the concerned.
They also discussed women's empowerment, protecting the interests of Bangladeshi workers in the plantation sector in Malaysia, expansion of halal trade between the two countries and initiation of negotiations for the signing of the Malaysia-Bangladesh bilateral trade agreement.
In terms of the close economic relations, Malaysia's investment in Bangladesh cumulates more than $3 billion on various sectors like telecommunication, infrastructure, and education, according to the Malaysian high commission to Bangladesh.
Besides, around 8 lakh Bangladeshis are working in Malaysia, according to an unofficial estimation.
Bangladesh High Commission Counsellor to Malaysia (Labour) Md Hedayetul Islam Mandal, Counsellor (Commercial) Md Rajibul Ahsan, Counsellor (Political) Ruhul Amin and deputy secretary general of the Ministry of Plantation Industries and Commodities of Malaysia were present during the courtesy call.