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The country could not harness the export potential of Malaysia because of high tariff imposed on Bangladeshi goods, Commerce Minister Tipu Munshi said today.
The high tariff has been working as a deterrent factor on shipment of goods from Bangladesh to Malaysia, the bilateral trade is swelling towards Malaysia, he said.
Munshi made the comments after a meeting with Haznah Md Hashim, Malaysian high commissioner to Bangladesh, at the minister’s secretariat office in Dhaka.
Bangladesh is one of the major importers of Malaysian vegetable fat and palm oil.
For instance, Bangladesh imported goods worth $3.28 billion and exported goods worth only $337.81 million last fiscal year, according to data of the commerce ministry.
Munshi also said Bangladesh has already sent a list of potential exportable items seeking duty waiver from Malaysia, but the latter did not respond to the demand, said a statement from the commerce ministry.
Hashim said Malaysia wants to export Malaysian cars to Bangladesh but the high import duty is acting as a barrier here, the statement added.
(TDS)
