China to import frozen food, leather, jute goods from Bangladesh
Star Business Report
China is likely to import frozen food, leather and jute goods from Bangladesh in a bid to maximise the existing trade gap of over $1,550 million between the two countries.A visiting nine-member Chinese purchasing delegation expressed the willingness to buy Bangladeshi products when they met leaders of FBCCI and MCCI in Dhaka yesterday. It is very important to enhance bilateral trade relation between Bangladesh and China to reduce the existing trade gap, said Deng Liyang, the head of visiting delegation and director of Department of Asian Affairs, Chinese Ministry of Commerce. Speaking at the meeting with Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) leaders, Liyang said China has taken "going globally" policy to strengthen its economy. Under the policy, Chinese investment may find the way in Bangladesh's export-oriented industries, she said. FBCCI President Mir Nasir Hossain said in 2004-05 fiscal year, Bangladesh's trade deficit with China was US $1555.67 million while it was $1087.83 million in the previous year. He urged the delegation to purchase pharmaceuticals, camera parts, golf shaft, light engineering products, PVC bags from Bangladesh. He said China's investment in Bangladesh was very modest, about $206 million, in 2004-05. Meanwhile, Metropolitan Chamber of Commerce and Industry (MCCI) urged China to provide Bangladeshi products with duty-free access facility to reduce high volume trade gap between Bangladesh and China. MCCI members also suggested China to invest in Bangladesh to produce goods and services, which are in demand not only in China but also in other countries. Referring to a recent survey by Japan External Trade Organisation (JETRO), Kutubuddin Ahmed, president of MCCI, said investment costs in Bangladesh is very low in Asia. Ahmed also said China can get an opportunity to expand its business to Asian countries by investing in Bangladesh, which is a part of Safta (South Asian Free Trade Agreement) and Bimstec (Bay of Bengal Initiative for Multi Secotral, Technical and Economic Cooperation). Liyang said China has already made a commitment that 83 Bangladeshi items will get free market facilities. "We are working hard for the implementation of the commitment," she said.
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A nine-member Chinese delegation led by Deng Liyang, director of Department of Asian Affairs, Chinese Ministry of Commerce, meets the members of Metropolitan Chamber of Commerce and Industry (MCCI), yesterday in the capital. Kutubuddin Ahmed, MCCI president, is also seen in the picture. PHOTO: MCCI |
