DCCI urges Chinese investment in agro-processing
DCCI's Acting President Waqar Ahmad Choudhury said China is the largest trading partner of Bangladesh. During 2017-18, bilateral trade with China was about USD12.40 billion which is 13.85 percent of the country's external trade.
He made the call at a meeting between Dhaka Chamber of Commerce and Industry (DCCI) and the visiting 11-member Chinese trade delegation held at DCCI conference room in the city on Monday.
DCCI also hosted an effective business to business (B2B) matchmaking meeting between the members of the visiting Chinese trade delegation and their Bangladeshi counterparts with a view to boosting bilateral trade.
A Memorandum of Understanding (MoU) was also signed between DCCI and Liaoning Federation of Industry and Commerce
Zhao Yanqing, Chairman of Liaoning Federation of Industry and Commerce led the Chinese delegation. Acting President of DCCI Waqar Ahmad Choudhury chaired this bilateral business talk.
DCCI's Acting President Waqar Ahmad Choudhury said China is the largest trading partner of Bangladesh. During 2017-18, country's bilateral trade with China reached a new height.
But the growing trade deficit with China is worrying. It reached USD11 billion in 2017-18. Waqar said more exports to China could make more import affordable. It would create new trade.
Despite, it is encouraging that the China's investment synergy is expanding. FDI inflow from China to Bangladesh reached to USD1.03 billion last year largely in power, apparel and financial sector, he informed.
He also said agro-processing offers immense investment opportunities for Chinese investors as this sector is the 2nd largest export sector of Bangladesh. Moreover DCCI Acting President invited the Chinese investors to invest in high-end apparel making, backward linkage of pharmaceuticals, leather and footwear, electronics and automobile sector in Bangladesh.
Zhao Yanqing, said that Liaoning province is situated in the north-east side of China which is closer to Korea, Japan and Mongolia. He invited Bangladeshi investors to invest in Liaoning province to tap the export market of Korea, Japan and Mongolia.
Liaoning province is rich in mineral resources like nickel, iron and magnesium. He said Bangladesh and Liaoning province is similar in size and the province is developed in terms of infrastructure and industrial base.
DCCI Vice President Imran Ahmed said China can play a vital role in developing South Asian regional trade and investment.
DCCI Directors Enamul Haque Patwary and SM Zillur Rahman were present along with leading businessmen and their representatives. Senior officials of 8 companies sat with the Chinese delegation for business to business talks.