08/06/2011 (Financial Express) - A three-day 'Showcase Malaysia-2011' will kick off in the city Friday, aiming to boost trade and bilateral relations between Dhaka and Kuala Lumpur.

"The main objective of the showcase is to enhance Malaysia's image as a reliable supplier and build a good network with the local business community," Syed Moazzam Hossain, president of Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI), said.

He was speaking at a press conference in the city Tuesday ahead of the exhibition to be organised by Bangladesh Malaysia Chamber of Commerce and Industry (BMCCI).

Malaysia is one of investment partners of Bangladesh and its investment till 2010 stood at $1.4773 billion in terms of foreign direct investment (FDI), the BMCCI president said.

More Malaysian investors have shown interest to invest in different sectors, he said, adding during January- June 2011, Malaysia invested over $30.0 million in the country.

Bangladesh exported $61.98 million against its import from Malaysia worth $1.0 billion in 2009-10 fiscal.

It is evident that Bangladesh has been suffering a chronic trade deficit with Malaysia, which is growing every year, he said.

"Poor marketing and research and tariff and non tariff barriers are the major constraints to the huge trade gap," he said, noting that the government should come forward with a proactive trade facilitation role for market promotion.

"The showcase will be a unique opportunity for the local businessmen to see the authentic products and interact with the Malaysian counterparts directly and to reduce the trade gap," he said.

Malaysia is a promoter of halal foods in the world markets of $600 billion and local halal food manufacturers can have the share of the market by mutual co-operation, he told the press briefing.

Regarding manpower export to Malaysia, the BMCCI president said, Malaysia might recruit manpower from Bangladesh from September this year after a process is going on to legalise about 0.3 million workers there.

About 60 Malaysian companies including manufacturers, exporters, traders, educational institutions, service providers from telecommunication, banking, airlines and tourism, health care and medical will take part in the showcase.

The products to be displayed include information technology, education, food and beverage, machineries and industrial products, electric and electronics, automobiles and spare parts, halal foods, herbal products, infrastructure development, cosmetics and chemicals, palm oil, health care products and services, real estate and housing, animal feeds, spices, fashion design, shoes and bags and furniture.