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Dhaka Monday,  Dec 5, 2022

Bangladesh Urges Malaysia To Ensure LNG export

Finance minister AHM Mustafa Kamal in a meeting with Malaysian deputy finance minister YB Dato` Indear Moha Shar Abdullah on Wednesday requested the latter to export a necessary amount of liquefied natural gas to Bangladesh.

He also called upon the deputy finance minister for taking further measures to hire more manpower from Bangladesh during the meeting held alongside the annual general meeting of the Asian Development Bank in Manila.

The finance minister, now in Manila to attend the ADB annual general meeting, expressed the country’s willingness to sign a free trade agreement with Malaysia.

Mustafa Kamal requested the Malaysian deputy minister of finance to implement the FTA as early as possible, according to a press release issued by the finance ministry on the day.

The Malaysian deputy finance minister assured the Bangladesh finance minister of consultation with their ministries concerned regarding the LNG export and more manpower recruitment.

On July 13, 2022, a MoU was inked virtually between Bangladesh and Malaysia in the field of co-operation such as the supply of LNG.

The MoU was signed by Bangladesh state minister for the Ministry of Power, Energy and Mineral Resources Nasrul Hamid and Dato’ Sri Mustapa Mohamed, minister in the Prime Minister’s Department (Economy) of Malaysia.

Bangladesh has stopped purchasing LNG from sport market due to its price hike.

Finance minister AHM Mustafa Kamal said that trade between Bangladesh and Malaysia was growing.

In financial year 2020-2021, Bangladesh’s export earnings from Malaysia stood at $306 million against the import of $1.57 billion, he said.

The finance minister said that Malaysia had been an important source of foreign direct investment.

The Malaysian FDI stock in the country’s telecom sector stands at $788 million.

In another meeting, the finance minister discussed bilateral issues with his Bhutanese counterpart.

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