FBCCI seeks Chinese investment to narrow Bangladesh's trade gap
Bilateral trade is now close to $20 billion, but Bangladesh remains heavily in deficit as its annual exports to China are below $1 billion.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has called for greater business-to-business engagement and joint investment with China to help narrow Bangladesh's large trade deficit with the country.
The call came at a meeting between the FBCCI and a business delegation from the China Council for the Promotion of International Trade (CCPIT) at the FBCCI office in Motijheel today (17 August).
FBCCI Administrator Md Fazlul Hoque said bilateral trade is now close to $20 billion, but Bangladesh remains heavily in deficit as its annual exports to China are below $1 billion.
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He urged businesses from both countries to explore joint ventures and opportunities to boost Bangladeshi exports to the Chinese market.
Bangladeshi business leaders invited Chinese entrepreneurs to invest jointly in food processing, medical devices and accessories, pharmaceuticals and active pharmaceutical ingredients (API), renewable energy, and jute and jute-based products.
Fazlul assured the delegation that the FBCCI would provide necessary support to Chinese businesses seeking to invest and operate in Bangladesh.
He Tao, director of the Bureau of Commerce of China's Honghe region, expressed interest in expanding bilateral trade and investment.
"One of our key objectives is to make the import-export process between the two countries easier and unlock new opportunities in trade and business," he said.
The meeting was attended by former FBCCI directors Abdul Haque, Priti Chakraborty and Obaidur Rahman; FBCCI Secretary General Md Alamgir; FBCCI Safety Council Adviser Brig Gen (retd) Abu Naim Md Shahidullah; members of the FBCCI General Council; leaders of various chambers and associations; and other members of the CCPIT delegation.
