Dhaka:Bangladesh and Malaysia have successfully concluded the first round of formal negotiations aimed at establishing a Free Trade Agreement (FTA) between the two countries. The talks, which took place over three days starting October 27, focused on drafting and reviewing various chapters of the proposed agreement to enhance bilateral trade and cooperation in areas such as technology and the digital economy.
According to Bangladesh Sangbad Sangstha, the negotiations involved 13 working groups that examined draft chapters and structural issues related to trade in goods and services, investment, rules of origin, customs procedures, digital trade, intellectual property rights, sanitary and phytosanitary measures, technical barriers to trade, and matters concerning small and medium-sized enterprises. The discussions concluded at the Pan Pacific Sonargaon Hotel in Dhaka, where officials from both countries exchanged views on economic cooperation and identified potential areas for collaboration.
The chief negotiator for Bangladesh, Khadiza Nazneen, emphasized that the proposed FTA could elevate the friendly relations between Bangladesh and Malaysia to a new economic level. She highlighted the potential for technology transfer, investment attraction, and industrial cooperation, particularly given Malaysia's advancements in electronics, semiconductors, and digital technologies. The Bangladeshi delegation expressed gratitude to Malaysian chief negotiator Dr. Rashidi Said and his team for their constructive engagement during the talks.
Both countries have tentatively planned for the second round of negotiations in January 2027, with a focus on resolving differences over various chapters and reaching mutually acceptable positions. The FTA is considered crucial for Bangladesh as it prepares to graduate from the least developed country category, aiming to maintain its competitiveness in international markets and attract foreign investment. An effective trade agreement with Malaysia could potentially expand market access for Bangladeshi goods and services and enhance the country's technological capabilities and participation in regional supply chains. The benefits of the agreement will depend on the final terms, including tariff concessions and safeguards for domestic industries.