The Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) has unveiled ambitious plans to tap into Malaysia’s lucrative semiconductor and halal markets through groundbreaking partnerships that could potentially generate $13 billion in export revenue for Bangladesh by 2030.
Historic MoUs Mark New Era in Bilateral Relations
In a landmark development, BMCCI announced the signing of historic Memorandums of Understanding with Malaysia’s national research and development center MIMOS and the Advanced Semiconductor Academy (ASEM), marking the first-ever government-to-business agreement between the two nations in their 53-year diplomatic history.
The agreements focus on semiconductor innovation, technology transfer, and talent development, establishing frameworks for joint training programs, research collaboration, and startup partnerships. BMCCI also signed an additional MoU with ASEM to launch a “Train-the-Trainer” initiative in Bangladesh, aimed at equipping local professionals with advanced technical skills.
Malaysia’s $113 Billion Halal Market Opportunity
BMCCI President Shabbir Ahmed Khan highlighted the enormous potential within Malaysia’s halal market, which is projected to reach $113 billion by 2030. Speaking at a press briefing in Dhaka’s Banani area, Khan emphasized that Bangladesh could capture up to $13 billion in exports by upgrading its halal product standards and investing in workforce development.
However, Khan identified a critical obstacle: “Currently, Bangladesh lacks a recognized halal certification body. Neither the Islamic Foundation nor BSTI has international compliance for halal certification. This gap is costing us market access”. He urged the government to establish a credible, internationally accepted halal certification authority to unlock this market potential.
Addressing Skills Gap in Semiconductor Sector
The partnership comes at a strategic time when Malaysia faces a significant talent shortage in its expanding semiconductor industry. The Malaysian government aims to strengthen its semiconductor and advanced manufacturing sectors, requiring 60,000 engineers by 2030, but domestic institutions can only supply 15,000, leaving a gap of 45,000 professionals.
“Bangladesh can fill this gap,” Khan stated. “By improving the quality of engineering education and aligning curricula with industry needs, we can export high-value talent to Malaysia”. This represents a shift toward exporting skilled human capital alongside traditional goods.
Declining Trade Figures Show Urgency for New Approach
The partnerships address concerning trends in bilateral trade between the two countries. Bangladesh’s exports to Malaysia have declined from $375 million to $300 million annually, while Malaysian exports to Bangladesh dropped from $5 billion to $3 billion.
Despite Bangladesh’s currently limited footprint in semiconductors, Khan emphasized the sector’s importance: “The global semiconductor market is expected to surpass $3 trillion by 2030 and Bangladesh must position itself to be part of this revolution”.
Technology Transfer and Global Integration
The MoUs with MIMOS Services Sdn Bhd represent more than traditional trade relationships, focusing on technology advancement and knowledge transfer. “This is not just about trade, it’s about co-developing industries, building skills, and integrating Bangladesh into global high-tech supply chains,” Khan concluded.
The initiatives received renewed momentum following Chief Adviser Professor Muhammad Yunus’s recent visit to Malaysia, which reinvigorated trade discussions and opened new doors for cooperation.
These strategic partnerships position Bangladesh to capitalize on Malaysia’s ambitious plan to triple its current $121 billion annual exports by 2030, creating substantial demand for skilled manpower across the manufacturing ecosystem.
