DHAKA: Bangladesh offers huge potential for the establishment of a halal food industry besides serving as a platform for Malaysian companies to penetrate Western and European markets.

Malaysian High Commissioner in Bangladesh, Norlin Othman said there was huge demand for halal food products in this country of 160 million people out of which 95 per cent were Muslims.

"We are competeting with India and Thailand in the food industry but we have an edge over them because of our status as an Islamic country," she told reporters during a briefing on Sunday.

She said besides having long established diplomatic ties, Bangladesh and Malaysia are members of the Organisation of Islamic Conference (OIC), the Commonwealth of Nations and D8 (group of eight major OIC members), besides sharing a common stance on many issues.
She said Malaysia contributed fund to Universiti Teknologi Islam which was funded by the OIC.

Norlin said besides opportunities in the food industry, Malaysian companies could also use Bangladesh as a platform to penetrate Western and European markets as it attracted low tariffs.

"Bangladesh is considered a less developed country by European Union and Western markets. They get very good tariffs, even duty-free, to the EU," she said, adding that air service between Malaysia and Bangladesh was also good with six flights flying from Malaysia to Bangladesh daily.

On Malaysian investments in Bangladesh, Norlin said they were concentrated in the country`s energy and telecommunication industry.

She said one such investment in Bangladesh`s energy sector was by 1Malaysia Development Board which had invested US$500 million in three sub-stations which supplied 80 percent of Dhaka`s electricity demand.

In 2012, two-way trade which stood at US$1.4 billion with Malaysia exporting petroleum, crude palm oil and machineries while imports from Malaysia comprised textile and frozen food, was in Malaysia`s favour.

Source: bernama.com.my

BDST: 1723 HRS, NOV 17, 2013
SR/MMA/JCK eic@banglanews24.com