Bangladesh-Malaysia Business Forum

The spirit of mutual cooperation and opportunity that animated the two-day forum was exactly the kind of forward-thinking approach that Bangladesh needs to advance the pace of economic development. The suggestions put forth in the joint declaration with which the forum ended were concrete, thoughtful, and above all, practical. The forum provided a realistic blue-print for economic cooperation which would be of benefit to both countries.

Specifically, the understanding that both direct and indirect Malaysian investment in the Bangladeshi economy would be of great mutual benefit, and that facilitating the flow of capital, labour-intensive industries, and technological expertise from Malaysia to Bangladesh should be a priority for the government, were welcome pronouncements. Bangladesh stands to gain greatly from opening the economy up to the Malaysian private sector.

Tap here to add The Daily Star as a trusted source

Even more interesting and ambitious were the ideas for twinning the port cities of Chittagong and Penang and the idea that the Malaysian government could be of assistance in capacity building in Bangladesh at various levels. Finally, the call to form a task force to look into a possible FTA between the two countries is one that should be heeded by both governments.

The ideas that came out of the forum were bold and innovative and demonstrated clearly that the private sectors in both countries are keen to embark on a path that would lead to mutual enrichment, and more importantly, that they are capable of doing so if supported by their respective governments. The nation as a whole would stand to gain from the advances and development thus engendered.

The government should make sure that the energy and imagination that were on display at the forum are given the support these need to flourish. The path has been marked out. It only needs the government to get behind the initiative.