Dhaka:Bangladesh and Malaysia have wrapped up the first round of negotiations on a proposed free trade agreement (FTA), with the next round tentatively scheduled for January 2027, as announced by the Ministry of Commerce on Thursday.
According to United News of Bangladesh, the three-day discussions, which commenced on October 27, concluded at the Pan Pacific Sonargaon Hotel in Dhaka. The negotiations were conducted in a "positive atmosphere," focusing on enhancing bilateral trade, boosting mutual investment, and exploring new cooperation areas in technology and the digital economy.
The discussions involved 13 working groups that reviewed draft texts and structural issues of the FTA chapters. Topics covered included trade in goods and services, rules of origin, customs facilitation, digital trade, sanitary and phytosanitary measures, technical barriers to trade, and issues concerning small and medium enterprises. Investment and intellectual property were also discussed.
Both delegations emphasized identifying each country's positions, potential, and areas of cooperation. Khadiza Nazneen, additional secretary at the Commerce Ministry and Bangladesh's chief negotiator, highlighted the potential of the proposed FTA to elevate existing friendly relations to a new economic level, citing Malaysia's advancements in electronics, semiconductors, and digital technology as opportunities for technology transfer and industrial cooperation.
The ministry underlined the FTA's significance for Bangladesh, especially after its graduation from the least developed country category, as new trade partnerships will be essential for sustaining competitiveness in global markets. It hopes that the FTA with Malaysia will enhance market access for Bangladeshi goods and services, strengthen industrial technological capacity, and create opportunities to join regional supply chains.
However, the ministry cautioned that the actual benefits would depend on the agreement's final terms, including tariff concessions, protection of domestic industries, and the implementation framework. Crafting a sustainable and mutually beneficial deal that balances both countries' commercial interests is vital, it added.
With the first round concluded, the process of formulating the Bangladesh-Malaysia FTA has progressed, and the ministry expressed hope that the second round in January would help shape the final contours of the agreement.