Though trade deficit with China in 2017-18 reached USD11 billion, it is encouraging that bilateral investment between Bangladesh and China is expanding, speakers at an interactive business meeting said on Monday. They said, the FDI inflow from China to Bangladesh reached USD1.03 billion, largely in power, apparel and financial sectors, they informed, adding that the agro-processing offers immense investment opportunities for Chinese investors as this sector is the 2nd largest export sector of Bangladesh.
The interactive business meeting between Dhaka Chamber of Commerce & Industry (DCCI) and visiting 11-member Chinese trade delegation was held at the auditorium of DCCI, in the city’s Motijheel. Addressing the event, DCCI Acting President, Waqar Ahmad Choudhury, invited Chinese investors to invest in high-end apparel, backward linkage of pharmaceuticals, leather and footwear, electronics and automobile sectors in Bangladesh.
DCCI also held an effective B2B matchmaking between the visiting Chinese trade team and their Bangladeshi counterparts with a view to boosting bilateral trade. Zhao Yanqing, Chairman of Liaoning Federation of Industry and Commerce led the Chinese delegation while Waqar Ahmad Choudhury chaired the bilateral business talk.
The DCCI Acting President also said that China is the largest trading partner of Bangladesh. During 2017-18, bilateral trade of Bangladesh and China was about USD12.40 billion which is 13.85 percent of the total trade of Bangladesh, he said.Zhao Yanqing said that Liaoning province is situated in the north-east side of China which is near 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 are similar in size and the province is developed in terms of infrastructure and industrial base.
DCCI Vice President Imran Ahmed the offered vote of thanks and said that China can play a vital role in developing South Asian regional trade and investment.DCCI Directors Enamul Haque Patwary and SM Zillur Rahman and entrepreneurs from different organizations took part in the business meeting. Representatives from eight companies sat with the Chinese delegation for a B2B. A Memorandum of Understanding (MoU) was also signed between DCCI and Liaoning Federation of Industry and Commerce.
