Bangladesh-Malaysia Chamber of Commerce & Industry (BMCCI) organised the session on 'Trade and Investment: Cross Border Investments can Bangladesh be an ideal location to attract Malaysian investment?' as part of first Bangladesh-Malaysia Business Forum at Sonargaon Hotel in Dhaka yesterday.

Eminent economist and former advisor to the caretaker government Professor Wahiduddin Mahmud chaired the session.

Making the keynote speech, Executive Chairman of Board of Investment (BOI) Mamudur Rahman said textile, leather, ceramic, agro-processing, processed food, edible oil, electronics, steel and services as potential sectors for investment for the Malaysian entrepreneurs.

Referring to a Japanese study, he said the cost of operating business in Bangladesh is very competitive and less than many other countries including Asean.

Former commerce secretary Suhel Ahmed said Bangladesh is now enjoying trade concessions in many countries, which Malaysian entrepreneurs should take into consideration for investing in this country.

President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Annisul Huq urged the Malaysian entrepreneurs to invest in the backward linkage industries of the garment sector, saying Bangladesh has a ready market for investment in this sector.

"I don't see foreign investors here who say that they are unhappy. Opportunities in some areas in Bangladesh are unlimited," he noted.

In his speech, Wahiduddin Mahmud said it is a lesson for many to note how Malaysia started recovering fast after the Southeast Asian economic crisis.

"Preventing a country from such crisis was not very easy. It was a matter of domestically developed strategy that we learnt from Malaysia," he explained.

Former commerce minister Tofail Ahmed mentioned incentive packages for some sectors in Bangladesh is the best in South Asia and added Bangladesh is a potential country for investment.

Bangladesh's export earning is now US$7.6 billion, which was only $200 million in 1972, he said mentioning congenial investment environment is prevailing here.

President of Foreign Investors' Chamber of Commerce & Industry (FICCI) in Bangladesh Mahbub Jamil said foreign investors who are already in this country are quite happy.

There are possibilities of merger and acquisition and Malaysian investors can think of taking over state-owned enterprises (SOEs), he added.

President of Federation of Malaysian Manufacturers Datuk Mustafa Mansur said bilateral trade between Malaysia and Bangladesh has increased substantially over last few years.

Bangladesh has 140 million people and many of its citizens are working abroad including Malaysia, meaning that the country has highly skilled work force.

There is a good demand for halal food in the global market and Bangladeshi and Malaysian companies can join hands to explore the opportunities in this area, he opined.

Former chairman of Bangladesh Textile Mills Associ-ation (BTMA) A Matin Chowdhury said Bangladesh has market access for its products to some major markets including European Union, Canada and others.

On the other hand, Malaysian companies are strong in producing polyster, synthetic fabrics where Bangladesh has to grow, he added.