The first vice president of Chittagong Stock Exchange yesterday stressed the need for exploring the possibility of a cross-border share trading between Bursa Malaysia (Kuala Lampur Stock Exchange) and Chittagong Stock Exchange to facilitate foreign investment in Bangladesh through the capital market.
Nasiruddin Ahmed Chowdhury was addressing a visiting business delegation from Malaysia at the bourse in the port city, according to a CSE press release.
The CSE official also urged the visiting delegation to raise the issue with their policy makers so that the economies of both the countries could reap optimum benefit from such a trading.
Listing the incentives the Bangladesh government offered to the foreign investors Nasiruddin said, "I am sure, many of you are eager to start joint venture here. The Bangladesh government has been giving many incentives in agro based sectors, light engineering and textiles for the foreign investors as well as for local entrepreneurs. It is the high time for you to avail of this opportunity and align our capital market as a source of capital in your industry."
The CSE first vice president expressed satisfaction over the withdrawal of the Malaysian restriction on manpower import from Bangladesh.
Mentioning that a $ 265.81 million trade deficit exists between the two countries, he asked for taking measures to reduce this trade gap in the interest of healthy economic ties.
The CSE official said, "Through the internet, trading will soon be expanded globally to attract foreign investments and cross-border trading is only a matter of time."
Jalilah Baba, the Malaysian business delegation leader, also spoke on the occasion.
She assured the Chittagong Stock Exchange that she would discuss with the Bursa Malaysia on the issue of regional exchange programme between the two bourses of Bangladesh and Malaysia.
Jalilah is the director of Malaysian Industrial Development Authority (MIDA), NG Shelue Lih, a senior official of MASSA, Abdul Matlub Ahmad, chairman of Nitol Group, Kamal Mostafa Chowdhury, a member of CSE and MCCI and A B Siddique, CSE chief executive officer, were present during the meeting with the business delegation.