The country may fetch annual remittance of $ 1.5 billion from Malaysia if legal channels are available for sending the money.

Currently, the country is receiving US$ 1 billion remittance from Malaysia. The inflow of remittance from that country, however, was US$ 595 million two years ago.

Experts said this at a discussion meeting in the city Tuesday.

Industries Minister Dilip Barua addressed the meeting titled ‘Showcase Bangladesh-2012’.

The Dhaka Chamber of Commerce and Industries (DCCI) and the Malayasian Chamber of Commerce and Industries (MCCI) jointly organised the meeting.

The meeting disclosed that ‘Showcase Bangladesh-2012’ fair will be organised in Malayasia.

Addressing as the chief guest, Dilip Barua said the present government is paying more attention to private sector, aiming to build an industrially sound Bangladesh.

For this, the government has undertaken a policy to provide the entrepreneurs with logistic supports, infrastructure and marketing instead of setting up industries by its own, Dilip Barua added.

With the support of the government, efficient industries like readymade garments (RMG), ship-breaking, ship-building, pharmaceutical and plastic product manufacturing units have thrived in the country, Barua said.

The minister, however, pointed out that political stability is crucial for ensuring sustainable economic growth.

Terming Malaysia as reliable friend, Barua added remittance worth $1 billion comes from Malaysia every year which can be increased to $ 1.5 billion.

DCCI President Asif Ibrahim presided over the meeting.

Syed Moajjem Hossain, former MCCI president and chairman of Fair Committee, presented the keynote paper.

MCCI President Syed Nurul Islam, Additional Secretary of Commerce Ministry Manoj Kumar Roy, MCCI Secretary General Alamgir Jalil, DMD of IBBL Nurul Islam, among others, spoke on the occasion.

BSS adds: The seminar was told that some 500,000 legitimate Bangladeshis are presently working in Malaysia.

The speakers said Malaysia could be a new market for Bangladeshi garments instead of European Union.

The Malaysian government has already allowed duty-free access for 300 Bangladeshi products, including garments. This opportunity must be utilised to increase exports of garments, home textiles, jute, jute goods, handicrafts, lather goods, pharmaceuticals and other products, they opined.