Bangladesh seeks Chinese support to diversify exports, boost investment

Bangladesh seeks to strengthen economic ties with China to diversify exports and attract investment, supporting sustainable socio-economic growth, particularly in the wake of its graduation from the least developed country (LDC) status.

During a bilateral trade meeting today, the goals were discussed between Taskeen Ahmed, president of the Dhaka Chamber of Commerce & Industry (DCCI), and Yao Wen, Ambassador of China to Bangladesh, at the Chinese Embassy in Dhaka.

During the meeting, DCCI President Taskeen Ahmed highlighted that total bilateral trade reached $17.35 billion in FY2024, with Bangladesh importing $16.64 billion and exporting $715.38 million. 

According to a press release, Ahmed urged China to expand cooperation in sectors including agriculture, ICT, renewable energy, automobile, light engineering, logistics, medical equipment, semiconductors, shipbuilding, and entrepreneurship capacity building, emphasising the need for skill and technology development for Bangladeshi entrepreneurs.

Ambassador Yao Wen noted that over 20 new Chinese companies have pledged nearly $800 million in the RMG and textile sectors since last year, boosting potential exports. 

He also highlighted growing interest in Bangladesh's electric vehicle industry but flagged high tariffs and insufficient supportive policies as barriers to investment.

The Ambassador emphasised the importance of diversifying Bangladesh's export basket beyond ready-made garments, which account for 85% of exports, and encouraged seeking China's technological support to improve production capacity and competitiveness